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Home Depot co-founder Bernie Marcus has died


Home Depot co-founder Bernie Marcus has died

Bernie Marcus, the co-founder of Home Depot, has died at the age of 95.

Marcus, who grew up in New Jersey, was the youngest son of poor Russian immigrants and became a self-made billionaire with a net worth of over $11 billion, according to Forbes, after founding the hardware store chain with Arthur Blank in 1978 with the support of investor Ken Langone.

Marcus, a longtime donor to the Republican National Committee, was an early supporter of former President Donald Trump, according to federal election records.

The Home Depot

Home Depot co-founders Bernie Marcus (left) and Arthur Blank (right). (Marcus Foundation)

In one of his final interviews in November 2023, Marcus spoke with FOX Business senior correspondent Charlie Gasparino in an in-depth interview in which he criticized President Biden's economic policies for exacerbating price increases for consumers.

ticker Security Last Change Change %
HD THE HOME DEPOT INC. 395.57 +2.98

+0.76%

“I never expected anything like what we’re going through,” Marcus said of Biden at the time. “I wake up every morning and ask myself, 'What is this idiot going to do today?'”

“He restricted drilling, he caused inflation, inflation caused every other problem for every businessman, every American,” Marcus said. “And the people he is supposed to represent – ​​the poor people, the middle class – are being killed today.”

FULL INTERVIEW: HOME DEPOT CO-FOUNDER BERNIE MARCUS

Marcus also founded the Job Creators Network, a small business advocacy group, more than a decade ago.

“Bernie Marcus was one of America's great business success stories,” said Alfredo Ortiz, CEO of the Job Creators Network. “But Bernie was so much more than a businessman. He was a visionary, a philanthropist and a dedicated family man. As The Home Depot grew into one of the largest companies in the country, Bernie never forgot the importance of small businesses to the economy, and the country as a whole generously commissioned JCN to protect the small business economy from relentless attacks by big government.

Home Depot co-founder Bernie Marcus. (Getty Images/Getty Images)

Marcus and his wife Billi, who founded the Marcus Foundation, have donated more than $2 billion to various causes.

“Bernie Marcus’s legendary business success is matched only by his generous philanthropy,” said Elaine Parker, president of the Job Creators Network Foundation. “He not only gave back, but paid it forward, helping to preserve the free market economy that makes the next generation of Home Depots possible.”

“Bernie recognized that small business and entrepreneurship are the lifeblood of the American economy,” she added. “And the best way to protect them is to defend capitalism, the only economic system that enables ordinary people to become entrepreneurs and become financially independent.”

The founders of Home Depot

Home Depot co-founders Bernie Marcus (center) and Arthur Blank (R), and financier Ken Langone (L). (Marcus Foundation/Fox News)

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The couple is also part of The Giving Pledge along with Warren Buffett, Bill Gates, Elon Musk and other wealthy individuals. The organization supports philanthropists who commit to donating a majority of their wealth to charitable causes.

Home Depot went public in 1981 at $12 a share and is trading at about $395 a share on Tuesday. It has more than 2,000 branches and employs more than 500,000 people.

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