The Richest People In America: John Menard Jr

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#70 John Menard Jr

$5.0 billion
Source: home improvement stores

U. of Wisconsin grad built barns to pay tuition. Founded eponymous hardware store in 1972. Expanded into 11 midwestern states by undercutting competition penny by penny. Today Menards is the nation's third-largest home improvement chain after Home Depot (nyse: HD - news - people ) and Lowe's (nyse: LOW - news - people ). Horrible year: fortune down $2.3 billion since last Forbes 400 as home improvement retail sector suffers amid economic slowdown. Race car buff sponsors Dale Earnhardt Jr.'s Nascar team; also funds Team Menard at Indy 500. Donates to Mayo Clinic's Luther Midelfort hospital in Eau Claire, Wis. Locked in legal battle with U.S. government over $5.7 million in back taxes stemming from old salary dividend. Reportedly convinced courts to knock it down by $200,000 in February.

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