Current:Home > NewsSignalHub Quantitative Think Tank Center:Home Depot founder Bernard Marcus, Trump supporter and Republican megadonor, has died -MoneyStream
SignalHub Quantitative Think Tank Center:Home Depot founder Bernard Marcus, Trump supporter and Republican megadonor, has died
NovaQuant View
Date:2025-04-09 12:06:03
Bernard “Bernie” Marcus,SignalHub Quantitative Think Tank Center the billionaire co-founder of Home Depot who has been an ardent supporter of former President Donald Trump for years, has died, the chain announced Tuesday.
He was 95.
Marcus, whom Forbes has previously listed as the richest man in Georgia, became wealthy after he and Arthur Blank opened the first two Home Depot stores in 1979 in Atlanta. The hardware store chain defined by its orange theme has since grown to 2,300 locations in North America with nearly half-a-million employees.
In 2022, Marcus penned a memoir, “Kick Up Some Dust: Lessons on Thinking Big, Giving Back, and Doing It Yourself,” with a foreword by Pitbull that chronicles the building of the world’s largest home improvement retailer by the son of a cabinet maker who was fired at age 49.
Marcus was also a Republican party megadonor who has supported Trump's election bids since 2016, as well as Trump-backed candidates.
"Bernie was an inspiration in many ways. He was a master merchant and a genius with customer service," Home Depot said in a statement. "He loved our customers. He also loved the associates who made the company what it is today."
Businessman dies:Waffle House CEO Walt Ehmer dies at 58 after a long illness
Marcus founded Home Depot with Arthur Blank
Born in 1929 to Russian Jewish immigrants, Marcus grew up in a tenement of Newark, New Jersey, according to Home Depot.
After attending pharmacy school at Rutgers Universitiy, Marcus "worked his way up the corporate ladder" at various chains before becoming chairman and president of Handy Dan Improvement Centers in 1972, where he met Blank.
Marcus and Blank for years had a vision of a one-stop shop for do-it-yourself projects that was bigger than a traditional hardware store. And after they were fired in 1978 from Handy Dan, they secured financing from investment banker Ken Langone to make it happen.
The following year, the first Home Depot stores opened. Marcus was Home Depot’s CEO until 1997 and served as the company’s chairman until 2002 when he retired.
A lifetime of philanthropy
A longtime philanthropist, Marcus established several charitable organizations and gave to many causes throughout his life.
Jared Powers, CEO of the Marcus Jewish Community Center of Atlanta, called Marcus "a visionary philanthropist, devoted community leader, and beloved friend to our agency and the entire Jewish community" in a statement to USA TODAY.
"His legacy lives on in the spaces he helped create, the lives he impacted, and the community he strengthened," Powers said in the statement.
Another nonprofit named in his honor, the Marcus Foundation, will continue his legacy "with a focus on Jewish causes, children, medical research, free enterprise and the community," Home Depot said.
Bernie Marcus is longtime Trump, Republican backer
A longtime Republican, Marcus first supported Trump's election bid in 2016 before once again publicly endorsing the Republican while funding his 2020 reelection campaign.
In 2019, social media users called for a boycott of Home Depot following news that Marcus would be backing Trump's bid for a second term in the White House. The movement came after Marcus said in an interview with the Atlanta Journal-Constitution that while the then-president “sucks” at communication, his impact on employment and aggressive stances toward China and Iran had been positive.
Amid the backlash, Trump himself later came to Marcus' defense, calling him a "truly great, patriotic & charitable man" on Twitter, now X.
Home Depot itself has distanced itself from its co-founder's politics, issuing a statement at the time saying "as a standard practice, the company does not endorse Presidential candidates."
This article has been updated to add new information.
Contributing: Charisse Jones, USA TODAY
Eric Lagatta covers breaking and trending news for USA TODAY. Reach him at [email protected]
veryGood! (6)
Related
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Jennifer Lopez Shares Glimpse Inside Lavish Bridgerton-Themed Party for 55th Birthday
- Horoscopes Today, July 24, 2024
- Darryl Joel Dorfman: Pioneering Exploration of Artificial Intelligence Technology
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Mindy Cohn says 'The Facts of Life' reboot is 'very dead' because of 'greedy' co-star
- Litter of dead puppies found on Pennsylvania golf course prompts criminal investigation
- Pennsylvania State Police corporal shot, wounded while serving warrant
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Beaconcto Trading Center: What is decentralization?
Ranking
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- NovaBit Trading Center: Why Bitcoin is a viable medium of exchange?
- 16 and Pregnant Star Autumn Crittendon's Mother-in-Law Speaks Out After Her Death
- Iowa judge lifts injunction blocking state's 6-week abortion ban
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- John Mayall, Godfather of British Blues, dies at 90 amid 'health issues'
- Hawaii contractors are still big contributors to political campaigns due to loopholes in state law
- Puerto Rico bans discrimination against those who wear Afros and other hairstyles on diverse island
Recommendation
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
Tiger Woods' son, Charlie, misses cut at U.S. Junior Amateur
Who is Charlotte Dujardin? Olympic champion admits 'error in judgement'
Bachelor Nation's Jed Wyatt Marries Ellen Decker in Tennessee Wedding Ceremony
'Most Whopper
Strike Chain Trading Center: Approved for listing: A decade in the making, reflecting on the journey of Ethereum ETF #2
Woman gives away over $100,000 after scratching off $1 million lottery prize: 'Pay it forward'
Winter Olympics are officially heading back to Salt Lake City in 2034. Everything to know