Bernard Marcus

Bernard Marcus
Born	(1929-05-12) 12 May 1929 Newark, New Jersey, U.S.
Died	4 November 2024(2024-11-04) (aged 95) Boca Raton, Florida, U.S.
Occupation(s)	Entrepreneur, philanthropist
Known for	Co-founder of Home Depot

Bernard Marcus (May 12, 1929 – November 4, 2024) was an American billionaire entrepreneur best known for co-founding Home Depot in 1978. He held the roles of the company’s inaugural CEO and chairman until his retirement in 2002. As of November 2024, Forbes valued his fortune at approximately US$10.3 billion. Marcus was also a prominent financial supporter of the Republican Party, including backing Donald Trump’s presidential bids.

Early life

Born in Newark, New Jersey, Marcus was the son of Russian Jewish immigrants Joe and Sara Marcus; his father worked as a cabinet maker. The youngest among four siblings, he was raised in a tenement and completed his education at South Side High School (currently known as Malcolm X Shabazz High School) in 1947. Although accepted into Harvard Medical School, he lacked the funds to attend and instead pursued a pharmacy degree at Rutgers University. During his university years, he joined the Alpha Epsilon Pi fraternity.

Career

Marcus initially worked as a pharmacist before shifting toward retail, gaining experience at a cosmetics firm and various retail positions. In 1968, he moved to California to join Odell Inc., followed by a transition to Daylin in Los Angeles in 1970. Eventually, he rose to become CEO of Handy Dan Improvement Centers, a home improvement chain headquartered in Los Angeles. In April 1978, Marcus and Arthur Blank were dismissed amid an internal power struggle at Handy Dan.

Later that year, Marcus partnered with Blank to establish Home Depot alongside merchandising specialist Pat Farrah and investment banker Ken Langone, who was instrumental in securing investor capital. The company launched its first two stores on June 22, 1979, in Atlanta.

Marcus acted as Home Depot’s first CEO until May 1997 and continued as chairman until his retirement on May 31, 2002. Blank took over as CEO until December 2000. In recognition of his achievements, Marcus was inducted into the Junior Achievement U.S. Business Hall of Fame in 2006.

He publicly opposed the Employee Free Choice Act, contending that it disproportionately favored labor unions by limiting secret ballot elections and imposing penalties on employee actions related to union activity.

In 2010, Marcus established the Job Creators Network, a conservative advocacy organization, providing $500,000 in initial funding.

Political activity

In 2012, Marcus contributed $10.7 million—the maximum allowable personal donation—to Mitt Romney’s presidential campaign, making him its largest individual donor. He gave $1.5 million in 2015 to super political action committees supporting candidates Jeb Bush and Scott Walker.

On June 1, 2016, Marcus publicly endorsed Republican nominee Donald Trump, becoming one of Trump’s top financial backers with donations totaling $7 million. His endorsement of Trump’s 2020 reelection effort provoked calls for a boycott of Home Depot. Together with his wife, Marcus donated $731,200 directly to Trump’s 2020 campaign and contributed $10.7 million to affiliated political action committees.

In 2023, Marcus gave $2 million to the pro-Israel lobbying organization AIPAC and declared support for Trump’s third consecutive presidential run. His group, Job Creators Network, supported litigation that played a role in the Supreme Court case Biden v. Nebraska, which contested federal student loan forgiveness policies.

Philanthropy

Marcus pledged to donate 90% of his $5.9 billion net worth, joining The Giving Pledge alongside his wife, Billi. By 2019, he had contributed $2 billion and committed the majority of his fortune, which increased to $9.8 billion by 2024. That year, he was recognized among the top ten philanthropists in the United States based on donations and pledges. Additionally, he was an early advocate for the Jewish Future Promise, urging American Jews to allocate at least half of their charitable contributions to causes related to Judaism or Israel.

As chairman of the Marcus Foundation, Marcus dedicated efforts toward supporting children, advancing medical research, promoting free enterprise, assisting veterans, fostering Jewish initiatives, and strengthening community programs. He also held a position on the Board of Directors for the Shepherd Center, focusing on care for veterans suffering from traumatic brain injuries. In 2005, he was honored with The Salvation Army’s highest accolade, the Others Award.

In recognition of his community service that embodied the founding principles of colonial Georgia, Marcus was named a Georgia Trustee in 2009 by the Georgia Historical Society and the Governor of Georgia. His philanthropic leadership earned him the William E. Simon Prize for Philanthropic Leadership in 2012.

Jewish and Israeli causes

In 1991, Marcus co-established the Israel Democracy Institute, providing $5 million for its facility located in Jerusalem’s Talbiya neighborhood and investing hundreds of millions of shekels into its ongoing operations. In 2016, Marcus and his wife Billi contributed $25 million toward the $133 million MDA Marcus National Blood Services Centre in Israel.

Georgia Aquarium

Bernard Marcus played a key role as a major donor to the Georgia Aquarium, which opened in downtown Atlanta in 2005, largely financed by his $250 million gift.

Medical research

Marcus founded The Marcus Institute to assist children with developmental disabilities and donated $25 million to Autism Speaks to advance research into autism’s causes and treatments. He was also actively engaged as a board member of the organization.

Books

In 1999, Marcus co-wrote Built from Scratch: How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion with Arthur Blank and Bob Andelman. More recently, he authored Kick Up Some Dust: Lessons on Thinking, Giving Back and Doing It Yourself alongside Catherine Lewis, which premiered at the Marcus Jewish Community Center of Atlanta's Book Festival in November 2022.

Personal life and death

Marcus experienced two marriages. With his first wife, Ruth (divorced 1972; deceased 2023), he had two children: Frederick, who is a professor at Emory University, and Susanne (1956–2021), a musician, music manager, and philanthropist who led The Susanne Marcus Collins Foundation. Through his second marriage to philanthropist Billi Morris (married 1973), he gained a stepson, Michael Morris, who owns and publishes The Atlanta Jewish Times. Marcus was also a grandfather to seven grandchildren.

As of 2006, he resided in Atlanta but passed away peacefully from natural causes at his residence in Boca Raton, Florida on November 4, 2024, at age 95.