• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Home Depot co-founder Bernie Marcus dies
Editor's Pick

Home Depot co-founder Bernie Marcus dies

by November 6, 2024
by November 6, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Bernie Marcus, the co-founder of Home Depot who became a billionaire philanthropist and GOP donor, has died at the age of 95.

‘The entire Home Depot family is deeply saddened by the death of our co-founder Bernie Marcus,’ the company said. ‘We owe an immeasurable debt of gratitude to Bernie. He was a master merchant and a retail visionary. But even more importantly, he valued our associates, customers and communities above all. He’s left us with an invaluable legacy and the backbone of our company: our values. 

Marcus’ death was first reported by CNN.

Born to Russian-Jewish immigrants in 1929, Marcus grew up in Newark, New Jersey, according to a biography shared by Home Depot. He eventually enrolled in pharmacy school and graduated from Rutgers University.

At age 49, Marcus formed Home Depot with Arthur Blank, the Atlanta Falcons owner and a billionaire supporter of Democrats, in Atlanta in 1978 after both were fired from another home improvement firm. They were assisted with financing from Ken Langone, another major philanthropist and Republican donor.

In a statement, Blank said he was “heartbroken at the passing” of his “dearest friend.”

“Today, I’ve lost a father-figure, mentor, brother and business and life partner,” Blank said. “While this loss is profoundly painful, I am grateful for the close to 60 years we spent together, navigating challenges and celebrating successes, and I am honored to have been part of Bernie’s remarkable life.”

In 2023, Marcus announced his support of Donald Trump for president. On Tuesday, Trump posted a statement on his Truth Social app mourning Marcus’s death.

‘I just learned of the passing of legendary entrepreneur and political genius Bernie Marcus,’ Trump wrote. ‘He was my supporter from the beginning and was always there when I needed help or advice. He strongly endorsed me for this election, as well as my other runs, and I will never forget him for that. He was an extraordinary man and I look forward to powerfully honoring him in the future. Warmest condolences to his wonderful family, and all of his many friends!’

In 1981, Home Depot was listed on the Nasdaq exchange for $12 a share. Today, the company’s shares are worth $395, equating to a market cap of about $392 billion. Home Depot now employs almost half a million workers.

Marcus served as CEO for about the first two decades of the company, and as chairman until he retired in 2002. According to Forbes, Marcus had a net worth of about $11 billion at the time of his death.

Thanks to that fortune, Marcus became a prolific philanthropist. Through a foundation he created, he gave to a variety of causes and projects focused on medicine and health care, Jewish and Israeli issues, free enterprise and veterans support, and community efforts.

A longtime booster of Atlanta civic projects, Marcus donated $250 million to help build the Georgia Aquarium, among the largest in the world.

In the run-up to the 2016 presidential election, Marcus initially donated to a political action committee that supported candidates such as former Florida Gov. Jeb Bush and former Wisconsin Gov. Scott Walker. He eventually threw his support behind Donald Trump, writing in an online op-ed that his experience turning Home Depot into a multibillion-dollar business meant he could not support the policies being advocated by Hillary Clinton, who competed with Trump in that election.

In 2023, Marcus endorsed Trump again. In another online op-ed, he said that while he had been ‘frustrated’ at times by Trump’s behavior, ‘we cannot let his brash style be the reason we walk away from his otherwise excellent stewardship of the United States during his first term in office.’

‘Now is the time for unity to save The American Dream for future generations,’ he wrote.

This post appeared first on NBC NEWS
You Might Also Like
  • ‘Inside Out 2’ tops $1 billion at the global box office, first film to do so since ‘Barbie’
  • Walmart managers can now earn $400,000 a year, no college required, thanks to stock grants
  • Savings simulator: Is your money beating inflation?
  • The great American jobs machine keeps revving in an election year
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Bitcoin and Ethereum Trends: Channel Analysis & Entry Points
next post
Amazon gets FAA approval for new delivery drone as it begins tests in Arizona

You may also like

SEC issues summons for Gautam Adani, nephew on bribery allegations

November 25, 2024

3 Reasons To Have Local IT Support For Your Tech...

January 23, 2023

Joann Fabrics and Crafts files for Chapter 11 bankruptcy

March 20, 2024

Microsoft confirms performance-based job cuts across departments

January 10, 2025

Average credit card balances jump 10% to a record $6,360...

February 9, 2024

Walmart and Target face similar problems — but only one...

August 19, 2023

Women’s basketball league Unrivaled signs uniform deal with Under Armour

December 11, 2024

USPS resumes shipments from China in abrupt about-face

February 5, 2025

Former MGM Grand casino president to be sentenced for failing...

May 9, 2024

The Mirage casino, which ushered in an era of Las...

May 18, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025
    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,630 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,576 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Senet and UnaBiz Partner to Enable...

    March 13, 2023

    Ex-CEO of firm that merged with...

    July 18, 2024

    Consumer confidence pops in the last...

    December 22, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here