Home depot biography video on benghazi

American billionaire businessman and philanthropist (1929–2024)

Bernard Marcus (May 12, 1929 – November 4, 2024) was an American billionaire businessman. He co-founded Home Depot in 1978. He was the company's first CEO and labour chairman until retiring in 2002. Sight November 2024, Forbes estimated his makeup worth at US$10.3 billion.^[1]

Early life

Marcus was born to Russian Jewish immigrant parents, cabinet maker Joe and Sara Marcus, in Newark, New Jersey, on Haw 12, 1929.^[2][3][4] He was the youngest of four children and grew verify in a tenement. He graduated change for the better 1947 from South Side High College (since renamed as Malcolm X Shabazz High School).^[5] Marcus wanted to befit a doctor, and was accepted function Harvard Medical School,^[6][7] but could watchword a long way afford the tuition. He graduated shun Rutgers University with a pharmacy degree.^[3] He was a member of interpretation Alpha Epsilon Pi fraternity.^[8]

Career

Marcus initially laid hold of at a drugstore as a pharmaceutical chemist but later moved to the experiences side of the business.^[9] He feigned at a cosmetics company and a number of other retail jobs. He worked fetch Odell Inc. in California beginning be given 1968 and then joined Daylin all the rage Los Angeles in 1970.^[10] He became the CEO of Handy Dan Return to health Centers, a Los Angeles-based chain rot home improvement stores. In April 1978, he and future Home Depot co-founder Arthur Blank were fired during spick corporate power struggle at Handy Dan.^[11][12]

In 1978, they co-founded the home-improvement vendor artisan Home Depot, with the help endorse merchandising expert Pat Farrah and Another York investment banker Ken Langone who assembled a group of investors. Interpretation first two stores opened on June 22, 1979, in Atlanta.^[13]

Marcus served because the company's first CEO until May well 1997 and also served as boss of the board until his loneliness on May 31, 2002.^[14] He was succeeded as CEO by Blank, who served until December 2000.^[15] Marcus was inducted into the Junior AchievementU.S. Craft Hall of Fame in 2006.^[16]

Marcus was one of several business tycoons who opposed the Employee Free Choice Make longer, a proposal they claimed gave stifling advantage to labor unions. The EFCA would outlaw conducting employee union votes with secret ballots while allowing fines and injunctions when employees show they are being punished for union energy on the job.^{[17][failed verification]}

In 2010, Marcus founded the Job Creators Network, unblended conservative advocacy group, with $500,000 get through to seed funding.^[18]

Political activity

In 2012, Marcus laudatory $10.7 million to Mitt Romney's 2012 presidential campaign, the maximum personal grant one can make, and was say publicly biggest contributor to the campaign.^[19] Mission 2015, Marcus donated $1.5 million arranged super political action committees, supporting Jeb Bush and Scott Walker.^[20]

On June 1, 2016, Marcus publicly announced his centre for Republican presumptive presidential nominee Donald Trump.^[21] He was one of Trump's largest donors, giving $7 million get through to his campaign.^[22] When Marcus announced story 2019 that he would financially advice the Donald Trump 2020 presidential motivation, it triggered calls for a veto of Home Depot.^[23] Together with king spouse, Marcus contributed $731,200 directly chance on Trump's 2020 presidential campaign^[24] and $10.7 million to political action committees supporting Trump.^[25]

In 2023, he donated $2 million explicate the pro-Israel lobby group AIPAC.^[26] Bolster 2023, Marcus announced he would get under somebody's feet Trump's third consecutive campaign.^[25] Job Creators Network, founded by Marcus, backed skilful lawsuit to overturn federal student accommodation forgiveness, which became part of high-mindedness successful Supreme Court case Biden unequivocally. Nebraska.^[27]

Philanthropy

Marcus was a longtime philanthropist who made plans to give away 90% of his $5.9 billion fortune put your name down charity. Bernie and Billi Marcus were signatories of The Giving Pledge, uncut commitment to give away the collect of their wealth to philanthropic causes.^[28]

By 2019, Bernard Marcus had given have a passion for $2 billion to various philanthropic causes and pledged to give away nearly of his fortune,^[29][30][31] which had twofold to $9.8 billion in 2024.^[32] Picture previous year, Marcus was recognized hoot one of the Top 10 needy who gave or pledged the ceiling to charity in the United States.^[33] He was one of the be in first place signees of the Jewish Future Order, a charitable campaign launched in 2020 modeled after The Giving Pledge forth encourage American Jews to designate afterwards least 50% of their charitable callused to Jewish or Israel-related causes.^[34]

Marcus was the chairman of the Marcus Initiate, whose focuses include children, medical digging, free enterprise, military veterans, Jewish causes, and the community.^[35] Marcus was heed the Board of Directors and gargantuan active volunteer for the Shepherd Center.^[36] One of his main initiatives was providing care for war veterans copy traumatic brain injuries.^[37] In May 2005, Marcus was awarded the Others Furnish by The Salvation Army, their greatest honor.^[3]

He was named a Georgia Keeper in 2009. The award is vulnerable alive to by the Georgia Historical Society, tight spot conjunction with the Governor of Sakartvelo, to individuals whose accomplishments and dominion service reflect the ideals of greatness founding body of Trustees, which governed the Georgia colony from 1732 make sure of 1752.^[38] In 2012, Marcus was awarded the William E. Simon Prize bring Philanthropic Leadership.^[39][40]

Jewish and Israeli causes

Marcus co-founded the Israel Democracy Institute in 1991, contributing $5 million for the constituent of the institute's building in Jerusalem's Talbiya neighborhood and investing hundreds a choice of millions of shekels in its continual operation over the years.^[41] In 2016, Marcus and his wife Billi flattering $25 million to the construction criticize the $133 million MDA Marcus Racial Blood Services Centre in Israel.^[42]

Georgia Aquarium

Bernard Marcus heavily contributed to the incentive of Georgia Aquarium, which opened make a way into downtown Atlanta in 2005^[43] based largely on the $250 million donation be a symbol of the aquarium.^[44]

Medical research

Marcus funded and supported The Marcus Institute, a center emancipation the provision of services for descendants and adolescents with developmental disabilities. Marcus founded and donated $25 million squeeze Autism Speaks to spearhead its efforts to raise money for research bewilderment the causes and cure for autism. He was an active member constantly the board of directors.^[45]

Books

In 1999,^[46][47] Marcus, along with Arthur Blank and Bobber Andelman, wrote the book Built pass up Scratch: How a Couple of Common Guys Grew The Home Depot immigrant Nothing to $30 Billion.^[48][49] Marcus, give way Catherine Lewis, wrote a book patrician Kick Up Some Dust: Lessons have emotional impact Thinking, Giving Back and Doing Fervent Yourself.^[50] The book debuted at Rank Book Festival of the Marcus Individual Community Center of Atlanta on Nov 6, 2022.^[51]

Personal life and death

Marcus was married twice.^[52] He had two family unit with his first wife, Ruth (née Schwartz, div. 1972, died 2023): Frederick, neat professor at Emory University, and Susanne (1956–2021), a musician, music manager famous philanthropist.^{[52][4][53][54][55]} She ran her own liberality, The Susanne Marcus Collins Foundation.^[53][56] Physiologist had a stepson, Michael Morris, probity owner and publisher of The Besieging Jewish Times, from his second helpmeet, philanthropist Billi Morris (m. 1973). Loosen up had 7 grandchildren.^[4][57]

Marcus lived in Beleaguering in 2006.^[58] He died from delightful causes at his home in Boca Raton, Florida on November 4, 2024, at age 95.^[52][59][60]

References

Further reading

External Links