The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Home Depot co-founder Bernie Marcus dies

by admin November 7, 2024
November 7, 2024
Home Depot co-founder Bernie Marcus dies

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

0
FacebookTwitterGoogle +Pinterest
previous post
It’s GAME ON for These Stocks
next post
Nvidia passes Apple as world’s most valuable company

Related Posts

Chase Bank is referring check fraud ‘glitch’ incidents...

September 10, 2024

Cucumbers shipped to 14 states recalled over Salmonella...

June 4, 2024

CEOs at Trump meeting say he was ‘meandering’...

June 17, 2024

Applebee’s owner Dine Brands to lean on value,...

March 8, 2025

Southwest Airlines faces FAA audit over string of...

July 25, 2024

Express files for bankruptcy, plans to close nearly...

April 23, 2024

Tim Cook to join Trump at White House...

August 7, 2025

Women’s Tennis Association extends media rights deal with...

June 27, 2025

A year after Silicon Valley Bank failed, another...

March 5, 2024

Trump Media plummets 10% as post-lockup selloff picks...

September 25, 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.

    Latest

    • Trump family’s American Bitcoin makes stock market debut

      September 5, 2025
    • Apple has survived Trump’s tariffs so far. It might raise iPhone prices anyway.

      September 5, 2025
    • Paramount mandates 5-day-a-week return to office ahead of major cost cuts

      September 5, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 5, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 5, 2025
    • Dem senator compares American founding principle to Iran’s theocracy: ‘Extremely troubling’

      September 5, 2025

    Categories

    • Business (1,379)
    • Politics (4,403)
    • Stocks (1,629)
    • Uncategorized (45)
    • World News (1,372)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, 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 © 2025 thetraderharbor.com | All Rights Reserved