Home Depot founder Bernard Marcus, longtime Trump backer, has died at 95

Bernard “Bernie” Marcus, a billionaire and cofounder of Home Depot, passed away at the age of 95, as announced by Home Depot on Tuesday. Known for his significant political contributions, Marcus was a prominent Republican donor and an ardent supporter of former President Donald Trump in recent years.

In a statement, Home Depot expressed its sorrow: “The entire Home Depot family is deeply saddened by the death of our cofounder Bernie Marcus. We owe an immeasurable debt of gratitude to Bernie.”

With an estimated net worth of $7.4 billion, according to Bloomberg’s Billionaire Index, Marcus achieved his fortune through the founding of Home Depot. Alongside Arthur Blank, Marcus established the company in 1978, which grew into a leading hardware chain with over 2,300 stores today and a stock market valuation close to $400 billion.

Marcus was born in Newark, New Jersey, in 1929, to a family of Russian Jewish immigrants. As the youngest of four children, he pursued higher education at Rutgers University, where he studied merchandising and marketing. He subsequently entered the retail industry, gaining experience with various retail chains.

His career took a pivotal turn when he met Arthur Blank while working at Handy Dan Home Improvement in California. After both men were dismissed due to changes in management, they decided to start their own business, envisioning a hardware store larger than the norm, staffed with knowledgeable employees. This vision became a reality as Home Depot was born.

In a heartfelt statement, Blank expressed his sadness over the loss of his close friend, stating, “I’m heartbroken at the passing of my dearest friend. Bernie’s tremendous commitment to so many causes will live on, as will the immeasurable impact on countless individuals and families who have been blessed by his giving heart.”

Reflecting on their partnership, Blank continued, “While this loss is profoundly painful, I am grateful for the close to 60 years we spent together, navigating challenges and celebrating successes. I am honored to have been part of Bernie’s remarkable life.”

Marcus served as Home Depot’s CEO until 1997 and remained chairman until he retired in 2002.

Home Depot, which began in Atlanta, Georgia, became a key part of Marcus’s philanthropic efforts. Together with his wife, Billi, he established the Marcus Autism Center at Emory University, supporting children with developmental disabilities.

Marcus was also a major donor to numerous charitable organizations, including Jewish and medical foundations. Notably, he provided a $250 million grant to help create the renowned Georgia Aquarium in 2005. He also contributed to the establishment of the Marcus Trauma Center at Grady Memorial Hospital and the Marcus Heart and Vascular Center at Piedmont Hospital, both in Atlanta.

The company further honored his legacy, stating, “He was a master merchant and a retail visionary. But even more importantly, he valued our associates, customers, and communities above all. He’s left us with an invaluable legacy and the backbone of our company: our values.”

In addition to his philanthropic endeavors, Marcus was known for his political activities. He donated millions to support Republican candidates, including the late Senator John McCain, Florida Governor Ron DeSantis, and former President Trump.

During his later years, Marcus frequently voiced his opinions on conservative television networks such as Fox News and Fox Business, discussing his support for Trump’s policies. His vocal support for Trump led to some calls to boycott Home Depot in 2016 and 2019.

In a 2022 interview with the Financial Times, Marcus expressed concerns about the state of capitalism in America. He criticized the growing trend of "socialism," claiming it was leading to a culture where “nobody works, nobody gives a damn.”

Reflecting on societal changes, Marcus added, “We used to have free speech here. We don’t have it. The woke people have taken over the world. You know, I imagine today they can’t attack me. I’m 93. Who gives a crap about Bernie Marcus?”