Bernie Marcus, co-founder of Home Depot, billionaire philanthropist and Republican donor, has died at the age of 95.
“The entire Home Depot family is deeply saddened by the passing of our co-founder Bernie Marcus,” the company said in a statement. “We owe an immeasurable debt to Bernie. He was a master merchant and a retail visionary. But more importantly, he was our He cared for his employees, customers and community. He left us with a valuable legacy and the backbone of our company: our values.
Marcus’ death was first reported by CNN.
According to a biography shared by Home Depot, Marcus was born in 1929 to Russian Jewish immigrants and grew up in Newark, New Jersey. He eventually enrolled in pharmacy school and graduated from Rutgers University.
At age 49, Marcus founded Home Depot in Atlanta in 1978 with billionaire Arthur Blank, owner of the Atlanta Falcons and a Democrat, after being fired from another home improvement company. They received funding from Ken Langone, another major philanthropist and donor to the Republican Party.
Blank said in a statement that she was “heartbroken by the passing” of her “beloved friend.”
“Today, I lost a father figure, a mentor, a brother, and a partner in business and life,” Blank said. “While this loss is extremely difficult, we are grateful for the nearly 60 years we spent together, overcoming challenges and celebrating successes, and we are honored to have been a part of Bernie’s remarkable life. .”
In 2023, Marcus announced that he would support Donald Trump for president. On Tuesday, President Trump posted a statement on his app, Truth Social, mourning Marcus’ death.
“I just learned of the passing of Bernie Marcus, a legendary entrepreneur and political genius,” President Trump said. “He has been my supporter from the beginning and has been there whenever I have needed help or advice. He has supported me not only in this election but also in running for other elections. He was very supportive and I will never forget that. He was an extraordinary person and I look forward to honoring him in the future. My deepest condolences to his wonderful family and his many friends. ”
In 1981, Home Depot was listed on the Nasdaq Exchange at $12 per share. The company’s stock is currently valued at $395, giving it a market capitalization of approximately $392 billion. Home Depot currently employs approximately 500,000 people.
Marcus served as CEO of the company for approximately the first 20 years and chairman until his retirement in 2002. According to Forbes, Marcus’ net worth at the time of his death was approximately $11 billion.
That good fortune made Marcus a prolific philanthropist. Through the foundation he established, he donated to a variety of causes and projects focused on medical and health care, Jewish and Israeli issues, free enterprise and veterans support, and community initiatives.
A longtime supporter of Atlanta’s civic projects, Marcus donated $250 million to build the Georgia Aquarium, one of the largest in the world.
In the run-up to the 2016 presidential election, Marcus initially donated to political action committees supporting candidates such as former Florida Governor Jeb Bush and former Wisconsin Governor Scott Walker. He ultimately endorsed Donald Trump, writing in an online op-ed that his experience in turning Home Depot into a multibillion-dollar business made him unable to support the policies advocated by Hillary Clinton, who ran against Trump in the election. I wrote.
In 2023, Marcus endorsed Trump again. In another online op-ed, he said that while he was sometimes “frustrated” by President Trump’s actions, “his brash style led him to believe that during the president’s first term, he was not responsible for the otherwise good stewardship of the United States.” I can’t walk away from it.” office. “
“Now is the time to come together to protect the American Dream for future generations,” he wrote.
