Home Depot Co-Founder Bernie Marcus Passes Away
ICARO Media Group
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Bernard "Bernie" Marcus, the billionaire co-founder of Home Depot and steadfast supporter of former President Donald Trump, has died, the hardware chain revealed on Tuesday. Known for his substantial influence and wealth, Marcus was once listed by Forbes as the wealthiest individual in Georgia. He amassed his fortune alongside Arthur Blank by opening the inaugural Home Depot stores in 1979 in Atlanta. Today, the chain boasts 2,300 locations across North America and employs nearly half a million people.
In 2022, Marcus published a memoir, "Kick Up Some Dust: Lessons on Thinking Big, Giving Back, and Doing It Yourself," which highlighted his journey from being the son of a cabinet maker who lost his job at 49 to founding the world's largest home improvement retailer. The book features a foreword by musician Pitbull and encapsulates Marcus's philosophy on business and life.
A die-hard Republican and significant party donor, Marcus supported Trump’s presidential campaigns starting in 2016 and continued endorsing candidates backed by Trump. Home Depot expressed its condolences stating, "Bernie was an inspiration in many ways. He was a master merchant and a genius with customer service. He loved our customers and the associates who built this company."
Born in 1929 to Russian Jewish immigrants in Newark, New Jersey, Marcus lived in a tenement during his upbringing. He later graduated from pharmacy school at Rutgers University and climbed the corporate ladder through various companies, ultimately becoming the chairman and president of Handy Dan Improvement Centers in 1972. It was here that he met his future business partner, Arthur Blank. Fired from Handy Dan in 1978, the duo, with the financial backing of investment banker Ken Langone, opened the first Home Depot stores the following year. Marcus served as CEO until 1997 and remained as chairman until his retirement in 2002.
Marcus was also renowned for his philanthropy, founding several charitable organizations and making significant contributions to numerous causes. Jared Powers, CEO of the Marcus Jewish Community Center of Atlanta, lauded him as "a visionary philanthropist, devoted community leader, and beloved friend." Powers emphasized that Marcus's legacy continues through the lives he impacted and the community he supported. Another of his charitable ventures, the Marcus Foundation, will perpetuate his legacy by focusing on Jewish initiatives, children, medical research, free enterprise, and community support.
His backing of Trump in the 2016 election and subsequent 2020 reelection campaign sparked calls for a boycott of Home Depot in 2019, after Marcus endorsed Trump despite his communication flaws but credited him for positive economic policies. Trump defended Marcus, describing him as "a truly great, patriotic & charitable man." Despite Marcus's political involvements, Home Depot clarified its stance in a statement asserting that the company does not endorse presidential candidates.