Bernard “Bernie” Marcus, the billionaire cofounder of Home Depot and prominent Republican megadonor, has passed away at the age of 95, the company confirmed on Tuesday.
“The entire Home Depot family is deeply saddened by the death of our cofounder Bernie Marcus,” the company said in a statement. “We owe an immeasurable debt of gratitude to Bernie.”
Marcus, with an estimated net worth of $7.4 billion according to Bloomberg’s Billionaire Index, amassed his fortune by founding Home Depot alongside Arthur Blank in 1978. The company grew into a retail giant, now operating 2,300 stores and holding a stock market valuation nearing $400 billion.
Born in 1929 in Newark, New Jersey, to Russian Jewish immigrants, Marcus was the youngest of four siblings. He earned a degree in merchandising and marketing from Rutgers University and later worked in the retail industry at various chains before meeting Blank at Handy Dan Home Improvement, a California-based chain. After both were fired from Handy Dan under new management, the pair decided to launch their own venture—Home Depot. Their concept was to create a larger, more customer-oriented hardware store with a more skilled staff, a vision that revolutionized the retail industry.
In a statement, Arthur Blank, who was Marcus’ longtime business partner and close friend, said he was “heartbroken at the passing of my dearest friend.” He praised Marcus for his “tremendous commitment to so many causes” and the profound impact he had on countless individuals and families. Blank reflected on their nearly six decades together, navigating both challenges and successes.
Marcus served as Home Depot’s CEO until 1997 and remained chairman until his retirement in 2002.
Beyond his business success, Marcus was also known for his philanthropic work, especially in Atlanta, where he and his wife, Billi, were active supporters of local charities. They established the Marcus Autism Center at Emory University, dedicated to helping children with developmental disabilities, and funded numerous medical and Jewish organizations. In 2005, Marcus made a $250 million donation that helped open the Georgia Aquarium, one of the largest aquariums in the world. He also contributed to the creation of the Marcus Trauma Center at Grady Memorial Hospital and the Marcus Heart and Vascular Center at Piedmont Hospital.
In its statement, Home Depot praised Marcus as “a master merchant and a retail visionary” who “valued our associates, customers and communities above all.” The company emphasized his lasting legacy, rooted in the core values he instilled at Home Depot.
Marcus was also an outspoken political figure, having donated millions of dollars to Republican candidates and causes. He was a vocal supporter of former President Donald Trump, and his political views made headlines, especially during Trump’s presidential campaigns. His financial backing led to calls for boycotts of Home Depot from some of Trump’s opponents in 2016 and 2019.
In a 2022 interview with The Financial Times, Marcus expressed concerns about the future of capitalism in America, criticizing what he viewed as the spread of “socialism” and the decline of work ethic. He also lamented the rise of what he called “woke” culture, claiming it was stifling free speech and freedom of thought in the U.S.
“I’m 93. Who gives a crap about Bernie Marcus?” he quipped during the interview.
Despite his later years marked by outspoken political commentary, Marcus leaves behind a lasting business legacy and a reputation for philanthropy and influence within both the retail industry and conservative politics.
This story has been updated with additional context and developments.
EDITED by:
“KORÇA BOOM”
