Bernard Marcus was a billionaire and philanthropist who was co-founder of The Home Depot hardware stores.
- Died: November 4, 2024 (Who else died on November 4?)
- Details of death: Died in Boca Raton, Florida at the age of 95.
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Bernard Marcus’ legacy
Marcus began his professional work life as a pharmacist, not a business mogul. Earning a pharmacy degree from Rutgers University, he worked for a New Jersey-based pharmacy business before becoming more interested in the retail side of things. By 1972, he was in Los Angeles, working for Handy Dan Home Improvement Centers. However, when new management pushed Marcus and the company’s CFO, Arthur Blank, out the door, the move ended up being pivotal. With expertise and investors, the pair formed The Home Depot in 1978, the first two stores opening a year later in Atlanta.
Marcus served as CEO for the company’s first 19 years, then as chairman of the board until he retired in 2002. In those years, he and his partners – including investment banker Ken Langone – became billionaires, and Home Depot became one of the most successful businesses in North America, setting the warehouse-style model many other chains now use.
When not running his business, Marcus was a political activist and philanthropist, supporting both Jewish and conservative causes, most recently each of the three major presidential campaigns of Donald Trump. In 2020, he donated nearly $11 million to political action committees supporting Trump. Marcus signed on with The Giving Pledge and Jewish Future Pledge, both promises to give away much of his fortune. He also created the Marcus Foundation, was on the board of the Shepherd Center, co-founded the Israel Democracy Institute, and helped fund the Georgia Aquarium.
Marcus co-authored the books “Built from Scratch: How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion” and “Kick Up Some Dust: Lessons on Thinking, Giving Back and Doing It Yourself.”
Notable quote
“I believe charitable groups are one of the most important ways we fix problems in this country.” — interview with Philanthropy Roundtable
Tributes to Bernard Marcus
Full obituary: CNN
