Bernie Marcus, Home Depot co-founder and billionaire philanthropist, dies at 95

NEW YORK -- Bernard “Bernie” Marcus, nan co-founder of The Home Depot, nan world's largest location betterment chain, a billionaire philanthropist, and a large Republican donor, has died. He was 95.

Marcus died Monday successful Boca Raton, Florida, surrounded by family, according to a Home Depot spokesperson.

Marcus was Home Depot's CEO arsenic it grew quickly during its first 2 decades, and was president of nan committee until his status successful 2002. In caller years, he became an outspoken protagonist of erstwhile president Donald Trump.

“We beryllium an immeasurable indebtedness of gratitude to Bernie,” nan institution said successful a statement. “He was a maestro merchant and a unit visionary. But moreover much importantly, he weighted our associates, customers and communities supra all. He’s near america pinch an invaluable bequest and nan backbone of our company: our values and culture. ”

The boy of Russian Jewish immigrants, Marcus was calved successful 1929 and grew up successful a tenement successful Newark, New Jersey, according to a curriculum vitae connected nan company's website. Marcus had aspirations of becoming a doctor, but his family couldn't spend aesculapian schoolhouse and he endeavored to go a pharmacist, receiving a grade from Rutgers University. Marcus utilized to opportunity he'd skip classes to waste Amana freezers door-to-door, according to Home Depot.

After college, Marcus worked astatine nan manufacturing conglomerate O’Dell’s and nan unit concatenation Vornado, quickly ascending nan firm ladder. By 1972, Marcus was president and president of Handy Dan Improvement Centers, portion of nan Daylin conglomerate. It was location that Marcus formed a lifelong relationship pinch Arthur Blank.

The large infinitesimal successful his profession arrived aft he was fired by Handy Dan successful 1978, on pinch Blank. Marcus had dreamt of a one-stop shop for do-it-yourselfers. At property 49, Marcus, on pinch Blank, founded Home Depot. Investment banker Ken Langone helped to unafraid financing to get The Home Depot started, according to nan company.

The first Home Depot opened successful Atlanta nan pursuing twelvemonth and by 1981, nan institution went nationalist and began trading stock. There are now much than 2,000 Home Depot stores and nan institution employs much than 500,000 people. In nan past decade yearly income astatine Home Depot person doubled, reaching astir $153 cardinal successful 2023

Marcus has financially supported various charities arsenic good arsenic Jewish and aesculapian organizations done donations. He besides built nan Georgia Aquarium successful Atlanta, 1 of nan largest successful nan world. The institution said that his philanthropic activity will proceed done The Marcus Foundation, pinch a attraction connected Jewish causes, children, aesculapian research, free endeavor and nan community.

Marcus was a vocal and financial protagonist of Donald Trump, donating astir $5 cardinal to nan Republican Party betwixt 2016 and 2020, according to OpenSecrets, an statement that tracks governmental spending. Last year, Marcus penned an op-ed for nan correct helping tract Real Clear Politics, a clearinghouse of elections information and analysis, that spelled retired nan reasons he was endorsing Trump for a 2nd term.