Bernie Marcus is co-founder of The Home Depot, the largest home improvement retailer in the world. He is also a generous philanthropist, having donated millions of dollars to worthy causes over the years.
In this blog, Fidlarmusic will introduce Bernie Marcus – an overview of his life, career, and philanthropic work. We hope you enjoy learning more about this remarkable man!
What is Bernard Marcus’s Net Worth and Salary 2023
Bernard Marcus Net worth and Salary 2023 That net worth places him among Georgia’s wealthiest citizens. Bernard Marcus, who was born in Newark, New Jersey, earned a Pharmacy degree from Rutgers University. He paid his way through college as a cabinetmaker.
Though he initially wanted to be a pharmacist, he found the retail side of drugstore management more interesting and began working for several retail companies and chains.
He later became CEO of Handy Dan Improvement Centers, but he and a coworker were sacked after a disagreement with the board. In 1979, the two co-founded The Home Depot.
He was CEO until 1998 and Chairman of the Board until 2002.
Since leaving The Home Depot, he has mostly focused on philanthropic efforts, including donating $250 million to the Georgia Aquarium, the world’s largest aquarium, and establishing the Marcus Institute, a center for children and young people with developmental problems.
Bernard Marcus Overview
Early life and education
Bernard Marcus was born in Newark, New Jersey to Russian Jewish immigrants. He grew up in a slum and attended South Side High School before graduating in 1947.
Marcus aspired to be a doctor but couldn’t afford the school, so he worked as a cabinet builder for his father. He pursued a pharmacy degree at Rutgers University. He joined the Alpha Epsilon Pi fraternity while there.
Career
Marcus worked as a pharmacist in a drugstore but got more interested in the retail aspect of the business.
He worked for a cosmetics company and numerous retail roles until becoming CEO of Handy Dan Improvement Centers, a home improvement store chain based in Los Angeles.
During a corporate power struggle at Handy Dan in 1978, he and future Home Depot co-founder Arthur Blank were both sacked.
With the support of merchandising specialist Pat Farrah and New York investment banker Ken Langone, who organized a group of investors, they co-founded the home-improvement retailer The Home Depot in 1979.
With its warehouse idea, the retailer transformed the home improvement industry. Blank, Marcus, and Langone all made billions of dollars. Marcus was the company’s initial CEO and chairman of the board for 19 years until his retirement in 2002.
In 2006, Marcus was honored in the Junior Achievement U.S. Business Hall of Fame.
Marcus is one of the numerous business titans who have spoken out against the Employee Free Choice Act, a contentious initiative that they argue gives labor unions an unfair advantage.
The EFCA would make secret ballot employee union elections illegal while also permitting penalties and injunctions when employees allege they are being punished for union activity on the job.
Marcus received $500,000 in startup funding to launch the Job Creators Network, a conservative lobbying group, in January 2014.
Marcus gave $1.5 million to Super PACs supporting Jeb Bush and Scott Walker in 2015. Marcus openly declared his support for Republican presumptive presidential contender Donald Trump on June 1, 2016.
He was one of Trump’s most generous supporters, donating $7 million to his campaign.
When Marcus indicated in 2019 that he would financially support Donald Trump’s 2020 presidential campaign, it sparked demands for a boycott of Home Depot, despite the fact that Marcus was no longer employed by the company.
Marcus stated in a June 2019 interview that the majority of his fortune is in Home Depot stock.
1 Bernard Marcus Net Worth – Dessert Week
2 Bernard Marcus Net Worth 2023: Wiki, Married, Family, Wedding
3 Bernard Marcus Net Worth & Biography
4 Billionaire Bernie Marcus to donate majority of fortune, support Trump for re-election
5 Atlanta billionaire plans to give almost all of it away
6 Home Depot co-founder will give 90% of his reported 4.5 billion fortune to charity
7 Bernie Marcus | Famous People Facts – Kidadl
8 Bernard Marcus Phone Number: Relationship, Net worth, House Address, Wiki 2023
9 Find Out About His Wealth and Philanthropic Works
- Author: idolpersona.com
- Published Date: 12/28/2021
- Review: 3.29 (377 vote)
- Source: 🔗
FAQs
Is Bernie Marcus a billionaire?
Bernard “Bernie” Marcus (born May 12, 1929) is an American billionaire businessman. He co-founded The Home Depot and was the company’s first CEO, and chairman until retiring in 2002
Who currently owns Home Depot?
The company’s largest shareholder is The Vanguard Group, Inc., with ownership of 8.9%. With 6.7% and 5.7% of the shares outstanding respectively, BlackRock, Inc. and Capital Research and Management Company are the second and third largest shareholders.
How much are the founders of Home Depot worth?
Conclusion
Thank you for reading this overview of Bernie Marcus. As you can see, he is a highly successful businessman and philanthropist who has had a profound impact on many industries and causes. We hope that this information has been helpful to you and that you will continue to learn more about this remarkable individual.
