The Home Depot co-founder Bernard Marcus dies
The Home Depot co-founder Bernard “Bernie” Marcus has passed away at the age of 95.
Born in 1929 to Jewish Russian immigrant parents, Marcus grew up in Newark, New Jersey and dreamt of becoming a doctor.
As his parents could not afford it, the young Marcus decided to pursue pharmacy instead but would often cut classes to sell Amana freezers door-to-door.
After graduating from college, Marcus worked his way up the corporate ladder at manufacturing conglomerate O’Dell’s and retail chain Vornado.
By 1972, Marcus was appointed as chairman of the board and president at Handy Dan Improvement Centers. However, Handy Dan fired Marcus, along with Arthur Blank and Ron Brill, in 1978.
After being laid off, the trio opened the first The Home Depot stores in 1979, with the financial help of investment banker Ken Langone. The founders grew the business globally, eventually employing more than 500,000 associates.
As a philanthropist, Marcus and his wife Billi established The Marcus Institute, now known as The Marcus Institute. The Children’s Healthcare of Atlanta not-for-profit subsidiary treats more than 5500 children with autism and related disorders a year.
The couple also joined The Giving Pledge in 2010, a commitment to give away most of their money during their lifetime.
His other contributions include the Georgia Tech Marcus Center for Therapeutic Cell Characterization and Manufacturing, Grady Hospital’s Marcus Trauma and Emergency Center, the Marcus Heart and Vascular Center at Piedmont Atlanta Hospital, and a grant to the Construction Education Foundation of Georgia.
The Marcus Foundation will continue Bernie’s philanthropic work, focusing on Jewish causes, children, medical research, free enterprise and the community.
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