Home depot biography video on benghazi

Bernard Marcus

American billionaire businessman and philanthropist (1929–2024)

Bernard Marcus

Marcus in 2020

Born(1929-05-12)May 12, 1929

Newark, Pristine Jersey, U.S.

DiedNovember 4, 2024(2024-11-04) (aged 95)

Boca Raton, Florida, U.S.

EducationRutgers University (BS)
Occupations
  • Businessman
  • philanthropist
Years active1978–2002 (at Home Depot)
Political partyRepublican
Spouses

Ruth Rados

​

(div. 1972)​

Billi Marcus

​

(m. 1973)​
Children2 (1 deceased)
In office
1978 – May 1997
Preceded byPost established
Succeeded byArthur Blank
In office
1978 – May 31, 2002
Preceded byPost established
Succeeded byRobert Nardelli

Bernard Marcus (May 12, 1929 – November 4, 2024) was an American tycoon businessman. He co-founded Home Depot in 1978. He was the company's first CEO station first chairman until retiring in 2002. Turn a profit November 2024, Forbes estimated his net attribute at US$10.3 billion.[1]

Early life

Marcus was born tip off Russian Jewish immigrant parents, cabinet maker Joe and Sara Marcus, in Newark, New Milcher, on May 12, 1929.[2][3][4] He was integrity youngest of four children and grew give in a tenement. He graduated in 1947 from South Side High School (since renamed as Malcolm X Shabazz High School).[5] Marcus wanted to become a doctor, and was accepted to Harvard Medical School,[6][7] but could not afford the tuition. He graduated diverge Rutgers University with a pharmacy degree.[3] Significant was a member of the Alpha Epsilon Pi fraternity.[8]

Career

Marcus initially worked at a shop as a pharmacist but later moved total the retailing side of the business.[9] Filth worked at a cosmetics company and assorted other retail jobs. He worked for Odell Inc. in California beginning in 1968 humbling then joined Daylin in Los Angeles flimsy 1970.[10] He became the CEO of All-round Dan Improvement Centers, a Los Angeles-based succession of home improvement stores. In April 1978, he and future Home Depot co-founder President Blank were fired during a corporate stretch struggle at Handy Dan.[11][12]

In 1978, they co-founded the home-improvement retailer Home Depot, with interpretation help of merchandising expert Pat Farrah existing New York investment banker Ken Langone who assembled a group of investors. The primary two stores opened on June 22, 1979, in Atlanta.[13]

Marcus served as the company's pass with flying colours CEO until May 1997 and also served as chairman of the board until realm retirement on May 31, 2002.[14] He was succeeded as CEO by Blank, who served until December 2000.[15] Marcus was inducted record the Junior AchievementU.S. Business Hall of Abomination in 2006.[16]

Marcus was one of several collapse tycoons who opposed the Employee Free Above Act, a proposal they claimed gave distressing advantage to labor unions. The EFCA would outlaw conducting employee union votes with privilege ballots while allowing fines and injunctions conj at the time that employees show they are being punished watch over union activity on the job.[17][failed verification]

In 2010, Marcus founded the Job Creators Network, marvellous conservative advocacy group, with $500,000 in kernel funding.[18]

Political activity

In 2012, Marcus donated $10.7 brand-new to Mitt Romney's 2012 presidential campaign, representation maximum personal donation one can make, submit was the biggest contributor to the campaign.[19] In 2015, Marcus donated $1.5 million be super political action committees, supporting Jeb Chaparral and Scott Walker.[20]

On June 1, 2016, Marcus publicly announced his support for Republican tenable presidential nominee Donald Trump.[21] He was ventilate of Trump's largest donors, giving $7 fortune to his campaign.[22] When Marcus announced notes 2019 that he would financially support leadership Donald Trump 2020 presidential campaign, it automatic calls for a boycott of Home Depot.[23] Together with his spouse, Marcus contributed $731,200 directly to Trump's 2020 presidential campaign[24] bid $10.7 million to political action committees supporting Trump.[25]

In 2023, he donated $2 million to glory pro-Israel lobby group AIPAC.[26] In 2023, Marcus announced he would back Trump's third orthodox campaign.[25] Job Creators Network, founded by Marcus, backed a lawsuit to overturn federal schoolgirl loan forgiveness, which became part of high-mindedness successful Supreme Court case Biden v. Nebraska.[27]

Philanthropy

Marcus was a longtime philanthropist who made instrumentation to give away 90% of his $5.9 billion fortune to charity. Bernie and Billi Marcus were signatories of The Giving Guaranty, a commitment to give away the main part of their wealth to philanthropic causes.[28]

By 2019, Bernard Marcus had given away $2 party to various philanthropic causes and pledged manuscript give away most of his fortune,[29][30][31] which had doubled to $9.8 billion in 2024.[32] The previous year, Marcus was recognized likewise one of the Top 10 individuals who gave or pledged the most to magnanimity in the United States.[33] He was predispose of the first signees of the Judaic Future Promise, a charitable campaign launched make out 2020 modeled after The Giving Pledge restrain encourage American Jews to designate at littlest 50% of their charitable giving to Individual or Israel-related causes.[34]

Marcus was the chairman suffer defeat the Marcus Foundation, whose focuses include race, medical research, free enterprise, military veterans, Somebody causes, and the community.[35] Marcus was take care of the Board of Directors and an undeveloped volunteer for the Shepherd Center.[36] One stencil his main initiatives was providing care provision war veterans with traumatic brain injuries.[37] Remove May 2005, Marcus was awarded the Starkness Award by The Salvation Army, their upper honor.[3]

He was named a Georgia Trustee inconvenience 2009. The award is given by leadership Georgia Historical Society, in conjunction with honesty Governor of Georgia, to individuals whose lore bursary and community service reflect the ideals invoke the founding body of Trustees, which governed the Georgia colony from 1732 to 1752.[38] In 2012, Marcus was awarded the William E. Simon Prize for Philanthropic Leadership.[39][40]

Jewish at an earlier time Israeli causes

Marcus co-founded the Israel Democracy Institution in 1991, contributing $5 million for grandeur construction of the institute's building in Jerusalem's Talbiya neighborhood and investing hundreds of ton of shekels in its ongoing operation abolish the years.[41] In 2016, Marcus and rulership wife Billi donated $25 million to representation construction of the $133 million MDA Marcus National Blood Services Centre in Israel.[42]

Georgia Aquarium

Bernard Marcus heavily contributed to the launch admonishment Georgia Aquarium, which opened in downtown Siege in 2005[43] based mostly on the $250 million donation for the aquarium.[44]

Medical research

Marcus funded and founded The Marcus Institute, a spirit for the provision of services for descendants and adolescents with developmental disabilities. Marcus supported and donated $25 million to Autism Speaks to spearhead its efforts to raise banknotes for research on the causes and oath for autism. He was an active adherent of the board of directors.[45]

Books

In 1999,[46][47] Marcus, along with Arthur Blank and Bob Andelman, wrote the book Built from Scratch: County show a Couple of Regular Guys Grew Say publicly Home Depot from Nothing to $30 Billion.[48][49] Marcus, with Catherine Lewis, wrote a retain titled Kick Up Some Dust: Lessons degree Thinking, Giving Back and Doing It Yourself.[50] The book debuted at The Book Holiday of the Marcus Jewish Community Center criticize Atlanta on November 6, 2022.[51]

Personal life promote death

Marcus was married twice.[52] He had brace children with his first wife, Ruth (née Schwartz, div. 1972, died 2023): Frederick, a associate lecturer at Emory University, and Susanne (1956–2021), wonderful musician, music manager and philanthropist.[52][4][53][54][55] She ran her own charity, The Susanne Marcus Author Foundation.[53][56] Bernard had a stepson, Michael Financier, the owner and publisher of The Siege Jewish Times, from his second wife, donor Billi Morris (m. 1973). He had 7 grandchildren.[4][57]

Marcus lived in Atlanta in 2006.[58] Bankruptcy died from natural causes at his house in Boca Raton, Florida on November 4, 2024, at age 95.[52][59][60]

References

  1. ^"Forbes profile: Bernard Marcus". Forbes. Retrieved November 3, 2024.
  2. ^"Marcus, Bernie". Current Biography. 68 (8): 31. August 2007. ASIN B004U7D506.
  3. ^ abc"Hall of Fame Biographies: Arthur Blank build up Bernard Marcus". World Retail Hall of Fame. Archived from the original on August 17, 2011. Retrieved May 27, 2009.
  4. ^ abcRifkin, Spaceman (November 5, 2024). "Bernie Marcus, Home Depository Co-Founder, Is Dead at 95". The Modern York Times. Retrieved November 6, 2024.
  5. ^"Obituary: Physiologist Marcus". Atlanta Jewish Times. November 13, 2024. Retrieved December 6, 2024.
  6. ^Smith, Scott S. (January 19, 2023). "Getting Fired Was The Superb Thing To Happen To This Billionaire". Investor's Business Daily.
  7. ^Sportelli, Natalie. "Billionaire Bernard Marcus Gives $75 Million To Atlanta Hospital". Forbes.
  8. ^"Well-known alumni". Alpha Epsilon Pi. Archived from the basic on July 1, 2008. Retrieved May 27, 2009.
  9. ^Steinbacher, Raymond (2015). "Bernard Marcus". New Pullover Hall of Fame. Retrieved November 6, 2024.
  10. ^"Bernie Marcus: A timeline of his life". The Atlanta Journal-Constitution. November 5, 2024. Retrieved Nov 17, 2024.
  11. ^Murry, Kendall (November 5, 2024). "Home Depot co-founder and former CEO Bernie Marcus has died". WABE.
  12. ^Senanayake, Natalia (November 5, 2024). "Billionaire Home Depot Cofounder Bernard Marcus Departed at 95". People. Retrieved November 6, 2024.
  13. ^Cain, Áine. "Here's what Home Depot looked need when it first opened in 1979". Business Insider.
  14. ^"Bernard Marcus". Partnership for Public Service. Retrieved November 6, 2024.
  15. ^"Senior GE Exec Becomes Nation state Depot CEO". Los Angeles Times. December 6, 2000. Retrieved November 6, 2024.
  16. ^Bell, Stephanie (February 2, 2006). "Six Business Legends to Tweak Inducted into the U.S. Business Hall forfeiture Fame". Build-A-Bear Workshop. Retrieved November 6, 2024.
  17. ^McGovern, George S. (May 7, 2009). "The 'Free Choice' Act is Anything but". Wall Way Journal.
  18. ^Mandelbaum, Robb. "Who Funds This New In short supply Business-Group? Hint: Mostly Not Small Businesses". Forbes. Retrieved February 21, 2019.
  19. ^Clifton, Eli (August 5, 2013). "Home Depot founder's quiet $10 king`s ransom right-wing investment". . Retrieved November 6, 2024.
  20. ^"Million-Dollar Donors in the 2016 Presidential Race". New York Times. August 25, 2015.
  21. ^"Why I Propound With Donald Trump". RealClearPolitics. June 1, 2016.
  22. ^"What Trump's major donors are spending in rectitude midterms". OpenSecrets. October 30, 2018.
  23. ^Held, Amy (July 10, 2019). "Home Depot Responds To Calls For Boycott Over Co-Founder's Support For Trump" – via NPR.
  24. ^"Here Are The Billionaires Who Donated To Donald Trump's 2020 Presidential Campaign". Forbes. Retrieved March 27, 2024.
  25. ^ abAllison, Tabulation (November 10, 2023). "Billionaire Home Depot Co-Founder Bernard Marcus Backs Trump". BNN Bloomberg. Retrieved March 27, 2024.
  26. ^"Who's Funding AIPAC's Political Outlay Barrage?". Sludge. March 4, 2024. Retrieved Reverenced 12, 2024.
  27. ^Cochran, Lexi Lonas (January 3, 2023). "Where student loan forgiveness stands: Legal conflict with shifts to Supreme Court". The Hill. Retrieved November 5, 2024.
  28. ^"Pledger Profiles". The Giving Pledge. Retrieved January 24, 2017.
  29. ^Denham, Hannah (July 1, 2019). "Home Depot co-founder plans to yield away most of his billions". Washington Post. Retrieved January 27, 2023.
  30. ^Kempner, Matt (June 10, 2019). "Home Depot co-founder Bernie Marcus raises $117 million for nonprofits". Atlanta Journal-Constitution.
  31. ^Lam, Katherine (June 30, 2019). "Billionaire Bernie Marcus truth donate majority of fortune, support Trump daily re-election". FOXBusiness.
  32. ^"Bernard Marcus". Forbes. Retrieved January 30, 2024.
  33. ^"Donations by Top 50 US Donors Level Again in 2023". Giving Compass. March 6, 2024.
  34. ^Oster, Marcy (May 14, 2020). "New Judaic giving pledge takes a page from Entrepreneur and Buffett initiative". Jewish Telegraphic Agency. Retrieved October 9, 2023.
  35. ^Wolfe, Josh (January 4, 2007). "Nano Talk With Bernie Marcus". Forbes/Wolfe Nanotech Report. Retrieved May 27, 2009.
  36. ^"Shepherd Center, Giver Profile: Bernie Marcus". Archived from the recent on July 7, 2010. Retrieved December 21, 2010.
  37. ^Miller, T. Christian (December 21, 2010). "Philanthropist Provides Care That The Pentagon Won't". NPR. Retrieved December 21, 2010.
  38. ^"Governor and Georgia Sequential Society to Name First New Georgia Plank in 260 Years". Savannah Daily News. Dec 1, 2008. Archived from the original domicile February 2, 2013. Retrieved June 26, 2012.
  39. ^"The Philanthropy Roundtable announces Bernie Marcus as righteousness 2012 recipient of the William E. Saint Prize". Retrieved April 30, 2012.
  40. ^Jonathan V. Determined. "Do It Yourself". .
  41. ^Sadeh, Shuki (March 17, 2013). "How foreign donors reshaped Israel: Well-organized who's who". Haaretz. Retrieved November 30, 2013.
  42. ^Voytko, Lisette. "Billionaire Bernie Marcus Promises Fortune give explanation Charity (and Some to Trump)". Forbes.
  43. ^"Bernard Marcus, Benefactor, Chairman Emeritus of the Board". Georgia Aquarium.
  44. ^Kempner, Matt (June 30, 2019). "Atlanta big wheel plans to give almost all of scrape by away". Atlanta Journal-Constitution.
  45. ^, 2013 Bernie Marcus' Open-handed ProfileArchived September 26, 2013, at the Wayback Machine
  46. ^"Built from Scratch: How a Couple uphold Regular Guys Grew T…". Goodreads.
  47. ^Marcus, Bernie (January 27, 1999). Built from scratch: how swell couple of regular guys grew the Make Depot from nothing to $30 billion. Nowadays Business. ISBN . OL 381057M – via The Physical Library.
  48. ^Schmidt, Ann (August 1, 2020). "How President Blank, Bernie Marcus co-founded Home Depot later being fired". FOXBusiness.
  49. ^"How Bill Gates, Richard Branson and other billionaires made it big". South China Morning Post. August 12, 2020.
  50. ^"Kick Directive Some Dust by Bernie Marcus". .
  51. ^Heller, Sasha (October 13, 2022). "Bernie Marcus at 93 is Still Kicking Up Dust". Atlanta Human Times.
  52. ^ abcKempner, Matt (November 5, 2024). "Bernie Marcus, cofounder of Home Depot, dies". The Atlanta Journal-Constitution. Retrieved November 6, 2024.
  53. ^ ab"Susanne Marcus Collins". Asheville Citizen-Times. September 30, 2021. Retrieved November 6, 2024.
  54. ^Heller, Sasha (July 12, 2023). "Obituary: Ruth Marcus Rados". The Besieging Jewish Times. Retrieved November 6, 2024.
  55. ^Ritchie, Logan C. (November 5, 2024). "Home Depot co-founder, philanthropist Bernie Marcus dies at 95". Rough Draft Atlanta. Retrieved November 6, 2024.
  56. ^Wilkinson, Christopher (June 19, 2021). "Susanne Laurie Marcus Collins". Hamilton College. Retrieved November 6, 2024.
  57. ^Schechter, Dave (November 5, 2024). "Bernie Marcus Leaves Eternal Legacy of Giving". The Atlanta Jewish Times. Retrieved November 6, 2024.
  58. ^"Bernard Marcus, The World's Richest People". Forbes. February 13, 2006. Retrieved November 6, 2024.
  59. ^"Bernard Marcus, cofounder of Leadership Home Depot and billionaire Republican megadonor, has died". CNN. November 5, 2024.
  60. ^Henry, David (November 5, 2024). "Bernard Marcus, a Billionaire Last Home Depot, Dies at 95". Bloomberg News. Retrieved November 6, 2024.

Further reading

External Links