Bernard “Bernie” Marcus, a billionaire businessman who co-founded The Home Depot, has passed away at the age of 95. The prominent Republican supporter died late Monday at his home in Boca Raton, Florida.
Videos by Suggest
An official from the Jobs Creator Network, Marcus’ nonprofit organization, confirmed that he passed away due to natural causes.
Marcus, a native of Newark, New Jersey, collaborated with financier Ken Langone and businessman Arthur Blank to start The Home Depot in 1978. The company now employs nearly half a million people across thousands of stores nationwide.
“The entire Home Depot family is deeply saddened by the death of our co-founder Bernie Marcus,” a Home Depot rep told The New York Post. “He was a master merchant and a retail visionary. But even more importantly, he valued our associates, customers, and communities above all.”
According to Bloomberg’s Billionaire Index, Marcus boasted an estimated net worth of $7.4 billion. Meanwhile, The Home Depot has grown to over 2,300 stores and is approaching a market valuation of nearly $400 billion.
Bernie Marcus Often Used His Home Depot Billions For Philanthropy
Marcus and his wife ranked as the seventh-largest individual Republican donors during the 2020 election cycle, contributing almost $25 million to GOP campaigns, as reported by OpenSecrets, a nonprofit organization that monitors political financing.
He was also a dedicated philanthropist, donating millions to charities that he believed would effectively promote free-market solutions and safeguard the entrepreneurial class. Just over a decade ago, he founded the Job Creators Network, a free-market advocacy group that advocates for small businesses.
Marcus retired from The Home Depot in 2002 and has since been actively involved in philanthropy. Meanwhile, co-founder Blank has emerged as a prominent figure in the world of sports and is currently the owner of the NFL team, the Atlanta Falcons.
Through the Marcus Foundation, Marcus has generously supported a variety of causes, including medical research, services for veterans, and initiatives benefiting the Jewish community.
Marcus played a pivotal role in establishing the Marcus Institute for Autism, the Marcus Stroke and Neuroscience Center, and various other healthcare initiatives.
Marcus and his wife, Billi, are also signatories of The Giving Pledge, dedicating themselves to donating the majority of their wealth.