Forbes says Bernard Marcus set up Home Depot after being fired from a job at a home repair store in 1978. Marcus is one of the most well-known and generous people in the southern US today.
The Atlanta Journal-Constitution says that Marcus and his wife Billi paid for the opening of the Georgia Aquarium, an autism center, and Grady Memorial Hospital in Atlanta.
Marcus also gave a lot of money to Trump’s campaign in 2016. The Center for Responsive Politics says he gave $7 million through outside groups.
Marcus told the Atlanta Journal-Constitution in July 2019 that he would keep giving money to President Trump’s campaign.
The news made a lot of Home Depot customers very angry, as Business Insider reported earlier. Some said they were boycotting the shop and canceling their credit cards because of it.
Business Insider asked Marcus for a response, but he didn’t answer right away. You can read on to find out more about Marcus.
Bernard Marcus’ Net Worth in 2024
Celebrity Net Worth estimated that Bernard Marcus is worth $6.2 billion. He is an American businessman and a good person. He is one of the wealthiest people in Georgia with that much money.
Bernard Marcus was born in Newark, New Jersey, and got his degree in pharmacy from Rutgers University. He worked as a cabinetmaker while he was in college.
He first wanted to be a pharmacist, but the retail side of running a drugstore caught his attention more, so he started working for different retail companies and chains.
Over time, he became CEO of Handy Dan Improvement Centers. But he and a coworker were fired because they didn’t agree with the board. In 1979, they helped start The Home Depot together. He was CEO until 1998 and Chairman of the Board until 2002.
Since leaving The Home Depot, he has mostly been involved in charitable work. For example, he gave $250 million to the Georgia Aquarium, which is the world’s biggest aquarium, and opened the Marcus Institute, a center for kids and teens with developmental disabilities.
Bernard Marcus’ Career Journey
Bernard Marcus, born on May 12, 1929, in Newark, New Jersey, is a prominent American businessman and philanthropist best known as the co-founder of The Home Depot. His journey from humble beginnings to becoming a billionaire is marked by resilience and entrepreneurial spirit.
Early Life and Education
Marcus was born to Russian Jewish immigrant parents and grew up in a challenging environment in Newark. He graduated from South Side High School in 1947 with aspirations of becoming a doctor.
Although he was accepted into Harvard Medical School, financial constraints led him to enroll at Rutgers University, where he earned a degree in pharmacy in 1954.
If you’re eager for more celebrity news and insights, check our previous posts, which provide detailed examinations.
Career Path
After graduating, Marcus began his career as a pharmacist but soon gravitated towards retail. He worked at Vornado, a drugstore and cosmetics company, where he climbed the ranks to become vice president by 1968.
His next significant role was as president of Odell, Inc., followed by a vice presidency at Daylin, Inc., which owned Handy Dan Home Improvement Centers.
In 1978, after being dismissed from Handy Dan during a corporate power struggle, Marcus teamed up with Arthur Blank and other investors to establish The Home Depot. The first two stores opened in Atlanta on June 22, 1979.
Their innovative warehouse-style retail concept revolutionized the home improvement industry, providing customers with a wide range of products at discounted prices. Marcus served as the CEO for 19 years and continued as chairman until his retirement in 2002.
Philanthropy and Legacy
Following his retirement, Marcus shifted his focus to philanthropy. He founded the Marcus Foundation, which supports various causes including children’s services, medical research, and Jewish initiatives.
Notable contributions include funding for the Marcus Institute for children with developmental disabilities and significant donations to Autism Speaks. He has pledged to donate 90% of his wealth to charity and is a signatory of The Giving Pledge.
Marcus’s impact extends beyond business; he has been recognized for his contributions to society through various awards and honors, including induction into the Junior Achievement U.S. Business Hall of Fame in 2006.
Bernard Marcus’ Philanthropy
Despite his immense wealth, Marcus is known for his philanthropic efforts. He has pledged to donate 90% of his fortune to charity through initiatives like The Giving Pledge and the Jewish Future Pledge. Some of his major philanthropic contributions include:
- Founding the Marcus Foundation, which supports children’s services, medical research, free enterprise, military veterans, Jewish causes, and the community
- Donating $45 million to establish the Marcus Developmental Resource Center for children with mental impairments in 1998
- Contributing $200 million to build the Georgia Aquarium in Atlanta in 2001
- Giving $25 million to Autism Speaks to support autism research
Stay well-informed about celebrities’ net worth with the help of Wortholino.