About Bernie Marcus
Bernie Marcus is an American businessman, billionaire, and co-founder of The Home Depot, the world's largest home improvement supply retailer.
Bernie Marcus served as the company's CEO for 19 years, from the day he co-founded it with Arthur Blank in 1979. Bernard Marcus was the chairman of the company until he retired in 2002, making him one of the richest men in America.
This American businessman's hometown is Newark, New Jersey, in the United States. Many magazines have praised him for his social responsibility and mentioned him as one of the most generous philanthropists in the world. Through his Marcus Foundation, he donates more than $1 billion to various philanthropic causes, including hospitals, education, and Jewish causes.
In 1990, Georgia Trend magazine named Bernie Marcus the most respected CEO. He has been honored with induction into the Horatio Alger Association of Distinguished Americans and was inducted into the Rutgers University Hall of Distinguished Alumni in 2000. In 2006, Bernie Marcus was inducted into the Junior Achievement US Business Hall of Fame. Bernie Marcus and his wife, Billi Marcus, have donated $250 million to the Georgia Aquarium. The couple were listed among the top charitable donors in the country by The Chronicle of Philanthropy in 2005. After his retirement in 2002, Bernie Marcus became the chairman of The Home Depot.
Bernie Marcus' Net Worth, Earnings & Spending Habits
What is Bernie Marcus' net worth?
Bernie Marcus' net worth is estimated to be $4.5 billion. His enormous wealth includes his earnings and possessions that he acquired by being the CEO of The Home Depot company for 19 years.
How much does Bernie Marcus earn per year?
Bernie Marcus' income per year is unavailable in the public database.
Height, Age & Physical Attributes
How tall is Bernie Marcus?
Bernie Marcus is 5 ft 11 in (180 cm) tall.
How old is Bernie Marcus?
Bernie Marcus was born on May 12, 1929, and is 93 years old as of 2022.
Childhood And Education
Bernie Marcus was born in Newark, New Jersey, on May 12, 1929. His parents were Russian immigrants. Bernie Marcus earned his high school diploma in 1947 from South Side High School. He grew up in a tenement along with his siblings, whose names are not revealed to the media.
Bernie Marcus aspired to be a doctor but couldn't afford Harvard Medical College's tuition, so he worked as a cabinet maker for his father. He obtained a pharmacy degree at Rutgers University and joined the Alpha Epsilon Pi fraternity. Instead of becoming a pharmacist, Bernie Marcus chose a career in the retail field, as he was more interested in the retail business than being a pharmacist.
Bernie Marcus formed The Home Depot after being fired, along with another key executive, from Handy Dan Home Improvement Centers for experimenting with wholesale do–it–yourself merchandise.
Family, Romance, And Relationships
Who is Bernie Marcus' partner?
Bernie Marcus was married to Ruth Rados, his first wife, and they have two children. A son named Frederick Marcus and a daughter named Susanne Marcus Collins were born. He later married his second wife, Billi, and has a stepson, Michael Morris. Bernie Marcus is a family person, and he lives with his two children, wife, and stepson in Newark, New Jersey, in the United States as of April 2022.
Career And Professional Highlights
Best Known For…
Bernie Marcus began to work at a drugstore and cosmetics company called Vornado. The retail experience interested him more than the pharmaceutical aspect of his job, so he chose to continue his career in retail. Moving up through the ranks at Vornado, Bernie Marcus was the vice president when he left the company in 1968. He moved because he was offered the role of president of Odell, Inc., which he accepted. In 1970, Bernie Marcus was promoted to vice president of a much larger corporation, Daylin, Inc. Daylin was the owner of the Handy Dan Home Improvement Centers brand of local home improvement stores.
Bernie Marcus progressed through the ranks of retailer Handy Dan by 1972, and he had formed a friendship with Arthur Blank, the vice president of finance. The pair began experimenting with discounted merchandise within the Handy Dan chain. When Bernie Marcus became the company's chairman, he developed a plan to sell discounted goods in a do–it–yourself retail store along with Arthur Blank. They began to experiment with the idea, which was a success locally.
Meanwhile, Kenneth Langone, the venture capitalist, had heard from a friend that Bernie Marcus had found success with his new marketing strategy at Handy Dan. Langone arranged to meet Bernie Marcus. He saw a person with a desire to make things better, even when things were good. Langone began purchasing Handy Dan stock, acquiring roughly 14% of the company's ownership. Learning this, the head at the Handy Dan Home Improvement center fired Bernie Marcus along with the executive, Arthur Blank.
With the support of merchandising guru Pat Farrah and New York investment banker Ken Langone, who organized a group of investors, Bernie Marcus and Arthur Blank created the home-improvement retailer The Home Depot in 1979. The warehouse concept of the store revolutionized the home improvement business, making Bernie Marcus, Arthur Blank, and Ken Langone billionaires. The stores carried twice as many items as the first vision and expanded widely.
In January 2014, Bernie Marcus founded a job creator network. The primary purpose of this network was to recruit small business entrepreneurs and executives. From the beginning, Arthur Blank served as the president of The Home Depot, and Bernie Marcus was its CEO. Farrah, its third partner, has retired.
Bernie founded The Marcus Institute, a center that provides services for children and adolescents with developmental disabilities. He co-founded the Israel Democracy Institute in 1991, donating more than $5 million to its construction in Jerusalem's Talbiya area. In 2005, he contributed to the opening of the Georgia Aquarium in downtown Atlanta, Georgia, which is now home to diverse marine life collections like beluga whales and whale sharks.
Bernie Marcus and his wife contributed $25 million to the MDA Marcus National Blood Services Centre, which cost $133 million to build. He is an active member of the board of directors of Autism Speaks and reportedly has donated $25 million to raise money for various researches on the causes and cures for autism. In 2015, Bernie Marcus donated around $1.5 million to Super PACs supporting Jeb Bush and Scott Walker.
What awards has Bernie Marcus won?
In May 2005, Bernie Marcus was honored with the highest award, the Others Award, by the Salvation Army. In recognition of his accomplishments and community service, the Georgia Historical Society, in conjunction with the Governor of Georgia, has given him the award of Georgia Trustee in 2009. He was also honored with the prestigious William E. Simon Prize for philanthropic leadership for his contributions to philanthropic causes in 2012.
Bernie Marcus' Hobbies And Interests
Bernie Marcus enjoys watching basketball and supports the Atlanta Hawks professional basketball team. He also enjoys swimming and golf.
Other Interesting Bernie Marcus Facts And Trivia
- In the early days of their company, The Home Depot, Bernie Marcus and Arthur Blank lured customers by sending their kids into the streets to hand $1 bills to anyone willing to walk in.
- The first Home Depot store was opened in Atlanta, Georgia.
- Bernie Marcus co-authored the book 'Built From Scratch' about founding The Home Depot.
- Bernie Marcus, Arthur Blank, and Ken Langone revolutionized the home improvement business by introducing a new warehouse concept in The Home Depot.
- Bernie Marcus was one of Donald Trump's largest donors, and he gave $7 million to his campaign in 2016.
We would love your help! If you have a photo of Bernie Marcus, either of them alone, or a selfie that you would be happy to share, please send it to [email protected]
If you have knowledge or information that you think would help us improve this article, please contact us.