Current:Home > reviewsHome Depot founder Bernard Marcus, Trump supporter and Republican megadonor, has died -Core Financial Strategies
Home Depot founder Bernard Marcus, Trump supporter and Republican megadonor, has died
View
Date:2025-04-15 17:00:53
Bernard “Bernie” Marcus, 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 elagatta@gannett.com
veryGood! (67)
Related
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Travis Scott Will Not Face Criminal Charges Over Astroworld Tragedy
- New Reports Show Forests Need Far More Funding to Help the Climate, and Even Then, They Can’t Do It All
- Doctors are drowning in paperwork. Some companies claim AI can help
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- New Mexico Could Be the Fourth State to Add a Green Amendment to Its Constitution, But Time Is Short
- The EPA Wants Millions More EVs On The Road. Should You Buy One?
- Sabrina Carpenter Has the Best Response to Balloon Mishap During Her Concert
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Bill Gates on next-generation nuclear power technology
Ranking
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- The EPA says Americans could save $1 trillion on gas under its auto emissions plan
- Peter Thomas Roth Deal: Get 2 Rose Stem Cell Masks for the Price of 1
- Gloomy global growth, Tupperware troubles, RIP HBO Max
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Newly elected United Auto Workers leader strikes militant tone ahead of contract talks
- Inflation eased in March but prices are still climbing too fast to get comfortable
- Is a State Program to Foster Sustainable Farming Leaving Out Small-Scale Growers and Farmers of Color?
Recommendation
A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
Prince Harry and Meghan Markle Officially Move Out of Frogmore Cottage
Michael Jordan's 'Last Dance' sneakers sell for a record-breaking $2.2 million
Biden names CIA Director William Burns to his cabinet
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Maya Millete's family, friends continue the search for missing mom: I want her to be found
Inside Clean Energy: Here’s Why Some Utilities Support, and Others Are Wary of, the Federal Clean Energy Proposal
Newly elected United Auto Workers leader strikes militant tone ahead of contract talks