Bernard “Bernie” Marcus, the co-founder of the world’s largest home improvement retail chain, Home Depot, has passed away at the age of 95. His death occurred on Monday in Boca Raton, Florida, surrounded by family, as confirmed by a representative from the company.
Marcus was instrumental in Home Depot’s explosive growth during its formative years and served as the company’s CEO for two decades, remaining chairman until his retirement in 2002. In the latter part of his life, he became a prominent supporter of former President Donald Trump, advocating for Republican causes.
The company expressed their gratitude towards Marcus in an official statement, acknowledging his significant contributions. They referred to him as a “master merchant” and a “retail visionary,” emphasizing his commitment to employees, customers, and the broader community. They noted that his legacy is embedded in the company’s core values and culture.
Born in 1929 to Russian Jewish immigrants in Newark, New Jersey, Marcus initially dreamed of becoming a doctor; however, financial constraints led him to pursue pharmacy instead. He earned his degree from Rutgers University and famously took to selling Amana freezers while skipping classes.
Following college, Marcus quickly climbed the corporate ladder at O’Dell’s manufacturing and then Vornado, eventually becoming chairman and president of Handy Dan Improvement Centers by 1972. This job is where he met and formed a lasting friendship with Arthur Blank.
His pivotal career moment came in 1978, when both he and Blank were let go from Handy Dan. Inspired by a vision of a comprehensive DIY supply store, the duo launched Home Depot at the age of 49, with essential financial backing from investment banker Ken Langone.
The first Home Depot store opened in Atlanta in 1979, and by 1981, the company had gone public. Today, Home Depot boasts more than 2,000 locations and employs over 500,000 individuals. In a remarkable growth trajectory, the company’s annual sales have doubled in the past decade, reaching nearly $153 billion in 2023.
Marcus was well-known for his philanthropy, contributing to various charities and supporting medical and Jewish organizations. Notably, he was behind the establishment of the Georgia Aquarium in Atlanta, one of the largest aquariums in the world. The Marcus Foundation continues his charitable efforts, focusing on Jewish initiatives, children’s welfare, medical research, free enterprise, and community development.
Additionally, Marcus was a staunch supporter of Trump, reportedly donating about $5 million to the Republican Party between 2016 and 2020. In 2022, he wrote an op-ed for Real Clear Politics, elaborating on his reasons for endorsing Trump for a second presidential term.