Bernard (Bernie) Marcus, co-founder of Home Depot — the world’s largest home improvement retailer — and renowned philanthropist, passed away yesterday, Nov. 4, in Boca Raton. He was 95 years old.
Born in 1929 in Newark, N.J. to Russian-Jewish immigrants, Marcus aspired to become a doctor and attend Harvard Medical School. However, after completing his pre-med courses, he learned that a quota on Jewish students required an additional fee that his family could not afford. Undeterred, he earned a degree in pharmacy from Rutgers University and launched a successful corporate career, advancing through the ranks at manufacturing conglomerate O'Dell's and retail chain Vornado, Inc. In 1972, he was appointed chairman and president of Handy Dan Improvement Centers, Inc., where he met Arthur Blank, forming a partnership and friendship that would last a lifetime.
By 1978, Marcus envisioned a one-stop shop for do-it-yourselfers, which didn’t exist at the time in the home improvement retail landscape. Seizing the moment after being fired from Handy Dan at 49 years old, he teamed up with Blank. With financing from investment banker Ken Langone, they opened the first Home Depot in Atlanta, Ga., in late 1979.
From there, Home Depot quickly grew into a successful enterprise, eventually employing more than 500,000 associates and opening more than 2,300 stores in the U.S., Canada and Mexico, with revenues reaching $152.7 billion in 2023.
Throughout his life, Marcus dedicated his energy and resources to philanthropy alongside his wife, Billi. He attributed his strong commitment to “Tzedakah” (the Jewish principle of giving back) to his mother, a lesson deeply rooted in his formative years in Newark, where his family faced financial hardships.
In 1989, Marcus founded The Marcus Foundation, which has since awarded more than $2.7 billion through over 3,500 grants, contributing to various causes, including medical research, Jewish initiatives, free enterprise and children’s health. His remarkable contributions include $25 million to Boca Raton Regional Hospital in 2012 and an additional $15 million in 2020. This year, Forbes named Bernie and Billi the 2024 Philanthropists of the Year.
In lieu of gifts or flowers, the Marcus family encourages donations to causes close to his heart: medical research, Israel and Jewish causes and veterans initiatives through organizations such as the Marcus Autism Center, Israel Democracy Institute and Marcus Neuroscience Institute at Boca Raton Regional Hospital.
For more information, visit corporate.homedepot.com.
Bernie Marcus
Bernie Marcus, co-founder of Home Depot, sits on a ladder wearing the brand's iconic orange apron