Bernard “Bernie” Marcus, the co-founder of The Home Depot, passed away at the age of 95 on Monday in Boca Raton, Florida, surrounded by his family, according to a spokesperson for the company.
Marcus played a key role in the company’s early growth, serving as CEO during its first two decades as it expanded rapidly. He remained chairman of the board until his retirement in 2002. In recent years, he became a prominent supporter of former President Donald Trump and was well known for his significant political contributions, especially to Republican causes.
The Home Depot issued a statement paying tribute to Marcus, acknowledging his immense contributions to the company and retail industry. “We owe an immeasurable debt of gratitude to Bernie,” the statement read. “He was a retail visionary and a master merchant, but above all, he placed immense value on our associates, customers, and communities. His legacy, built on our core values and culture, will continue to guide the company moving forward.”
Born in 1929 to Russian Jewish immigrant parents, Bernard Marcus grew up in a tenement in Newark, New Jersey, as noted in a biography on The Home Depot’s website. Although he initially dreamed of becoming a doctor, financial constraints prevented him from attending medical school. Instead, he pursued a degree in pharmacy at Rutgers University. Marcus once shared that he would often skip classes to sell Amana freezers door-to-door, according to the company.
After graduating, Bernard Marcus worked for O’Dell’s, a manufacturing conglomerate, and the retail chain Vornado, quickly climbing the corporate ranks. By 1972, he had become chairman and president of Handy Dan Improvement Centers, a part of the Daylin conglomerate. It was during his time there that Marcus formed a close friendship with Arthur Blank.
A pivotal moment in his career came in 1978 when both Marcus and Blank were fired from Handy Dan. At the age of 49, Marcus pursued his long-held vision of creating a one-stop shop for do-it-yourself customers. Together with Blank, he co-founded Home Depot. Investment banker Ken Langone played a key role in securing the funding needed to launch the company, according to Home Depot.
The first Home Depot store opened in Atlanta in 1979, and by 1981, the company went public, offering shares of stock. Today, Home Depot operates over 2,000 stores and employs more than 500,000 people. In the past decade, the company’s annual sales have doubled, reaching nearly $153 billion in 2023.
Beyond his business success, Marcus was a generous philanthropist, supporting a variety of causes, including Jewish organizations, medical research, and charities. He is also credited with building the Georgia Aquarium in Atlanta, one of the largest aquariums in the world. According to the company, his charitable efforts will continue through The Marcus Foundation, which focuses on Jewish causes, children, medical research, free enterprise, and community initiatives.
Marcus was also an outspoken supporter of former President Donald Trump, contributing nearly $5 million to the Republican Party between 2016 and 2020, according to Open Secrets, a group that tracks political donations. In 2023, Marcus wrote an op-ed for the conservative site Real Clear Politics, explaining why he was endorsing Trump for a second term.