Bernard "Bernie" Marcus (born May 12, 1929) is an American
billionaire
A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busin ...
businessman. He co-founded
The Home Depot
The Home Depot, Inc., is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. Home Depot is the largest home improvement re ...
and was the company's first CEO, and chairman until retiring in 2002.
Early life and education
Bernard Marcus was born to Russian
Jewish
Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...
immigrant parents in
Newark, New Jersey
Newark ( , ) is the most populous city in the U.S. state of New Jersey and the seat of Essex County and the second largest city within the New York metropolitan area. He was the youngest of four children and grew up in a
tenement
A tenement is a type of building shared by multiple dwellings, typically with flats or apartments on each floor and with shared entrance stairway access. They are common on the British Isles, particularly in Scotland. In the medieval Old Town, i ...
. He graduated from
South Side High School Southside High School or South Side High School may refer to:
*Southside High School (Gadsden, Alabama)
*Southside High School (Dallas County, Alabama), a school in the Dallas County Schools system
* Southside High School (Batesville, Arkansas)
* ...
in 1947. Marcus wanted to become a doctor but could not afford the tuition. He graduated from
Rutgers University
Rutgers University (; RU), officially Rutgers, The State University of New Jersey, is a Public university, public land-grant research university consisting of four campuses in New Jersey. Chartered in 1766, Rutgers was originally called Queen's ...
with a
pharmacy
Pharmacy is the science and practice of discovering, producing, preparing, dispensing, reviewing and monitoring medications, aiming to ensure the safe, effective, and affordable use of medicines. It is a miscellaneous science as it links heal ...
degree. While there he joined the
Alpha Epsilon Pi
Alpha Epsilon Pi (), commonly known as AEPi, is a college fraternity founded at New York University in 1913 by Charles C. Moskowitz and ten other men. The fraternity has more than 150 active chapters across the United States, Canada, United Kingdo ...
fraternity.
Career
Marcus worked at a
drugstore
A pharmacy (also called "drugstore" in American English or "community pharmacy" or "chemist" in Commonwealth English, or rarely, apothecary) is a retail shop which provides pharmaceutical drugs, among other products. At the pharmacy, a pharmacis ...
as a pharmacist but became more interested in the retailing side of the business. He worked at a
cosmetics
Cosmetics are constituted mixtures of chemical compounds derived from either natural sources, or synthetically created ones. Cosmetics have various purposes. Those designed for personal care and skin care can be used to cleanse or protect ...
Los Angeles
Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...
-based chain of home improvement stores. In 1978, both he and future Home Depot co-founder
Arthur Blank
Arthur M. Blank (born September 27, 1942) is an American businessman and a co-founder of the home improvement retailer The Home Depot.
He also currently owns two professional sports teams based in Atlanta, Georgia - the Atlanta Falcons of the Na ...
were fired during a corporate power struggle at Handy Dan.
In 1979, they co-founded the home-improvement retailer
The Home Depot
The Home Depot, Inc., is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. Home Depot is the largest home improvement re ...
, with the help of merchandising expert
Pat Farrah
Patrick "Pat" Farrah is an American former retail executive who is a co-founder of Home Depot.
Patrick Farrah was born and raised in Southern California. Dropping out of junior college in the first year, in 1962 he took a job at National Lumber an ...
and New York
investment banker
Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with ...
Ken Langone
Kenneth Gerard Langone Sr. KSG (born September 16, 1935) is an American billionaire businessman, investor, and philanthropist, best known for organizing financing for the founders of The Home Depot. He has been a major donor to the Republican Pa ...
who assembled a group of investors.
The store revolutionized the home improvement business with its warehouse concept. Blank, Marcus, and Langone became billionaires. Marcus served as the company's first CEO for 19 years and also served as chairman of the board until his retirement in 2002. Marcus was inducted into the
Junior Achievement
JA (Junior Achievement) Worldwide is a global non-profit youth organization founded in 1919 by Horace A. Moses, Theodore Vail, and Winthrop M. Crane. JA works with local businesses, schools, and organizations to deliver experiential learning ...
U.S. Business Hall of Fame
The Global Business Hall of Fame, powered by JA Worldwide, was established by Junior Achievement in 1975 as the U.S. Business Hall of Fame, the result of an idea by Willard F. Rockwell, Jr. (former chairman and CEO of Rockwell International) and ...
in 2006.
Marcus is one of several business tycoons who opposed the
Employee Free Choice Act
The Employee Free Choice Act is the name for several legislative bills on US labor law (, , , , , , , , .) which have been proposed and sometimes introduced into one or both chambers of the U.S. Congress.
The bill's purpose, as taken from the 200 ...
, a controversial proposal they claim gives unfair advantage to labor unions. The EFCA would outlaw conducting employee union votes with secret ballots while allowing fines and injunctions when employees show they are being punished for union activity on the job.
In January 2014, Marcus founded the Job Creators Network, a conservative advocacy group, with $500,000 in seed funding.
In 2015, Marcus donated $1.5 million to Super PACs supporting
Jeb Bush
John Ellis "Jeb" Bush (born February 11, 1953) is an American politician and businessman who served as the 43rd governor of Florida from 1999 to 2007. Bush, who grew up in Houston, was the second son of former President George H. W. Bush a ...
and Scott Walker. On June 1, 2016, Marcus publicly announced his support for Republican presumptive presidential nominee
Donald Trump
Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
Trump graduated from the Wharton School of the University of Pe ...
. He was one of Trump's largest donors, giving $7 million to his campaign. When Marcus announced in 2019 that he would financially support the
Donald Trump 2020 presidential campaign
Incumbent Republican Donald Trump led an unsuccessful campaign for the 2020 United States presidential election. He was inaugurated for his first term on January 20, 2017, and officially announced his reelection campaign on June 18, 2019.
Do ...
, it triggered calls for a boycott of Home Depot even though Marcus was by then no longer with the company.
In a June 2019 interview, Marcus said most of his wealth is in Home Depot stock.
Philanthropy
Marcus co-founded the
Israel Democracy Institute
Israel Democracy Institute (IDI; he, המכון הישראלי לדמוקרטיה), established in 1991, is an independent center of research and action dedicated to strengthening the foundations of Israeli democracy. It is located in Jerusalem, ...
in 1991, contributing $5 million for the construction of the institute's building in Jerusalem's
Talbiya
Talbiya or Talbiyeh ( ar, الطالبية, he, טלביה), officially Komemiyut, is an upscale neighborhood in Jerusalem, between Rehavia and Katamon. It was built in the 1920s and 1930s on land purchased from the Greek Orthodox Patriarchate of ...
neighborhood and investing hundreds of millions of
shekels
Shekel or sheqel ( akk, 𒅆𒅗𒇻 ''šiqlu'' or ''siqlu,'' he, שקל, plural he, שקלים or shekels, Phoenician: ) is an ancient Mesopotamian coin, usually of silver. A shekel was first a unit of weight—very roughly —and became c ...
in its ongoing operation over the years. He heavily contributed to the launch of the
Georgia Aquarium
Georgia Aquarium is a public aquarium in Atlanta, Georgia, United States. It exhibits hundreds of species and thousands of animals across its seven major galleries, all of which reside in more than of water. It was the largest aquarium in the wor ...
, which opened in downtown
Atlanta, Georgia
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...
, in 2005. Based mostly on the
US$
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
250M million donation for the Aquarium, Marcus and his wife, Billi, were listed among the top charitable donors in the country by ''
The Chronicle of Philanthropy
''The Chronicle of Philanthropy'' is a magazine that covers the nonprofit world of philanthropy. Based in Washington, DC, it is aimed at charity leaders, foundation executives, fund raisers, and other people involved in philanthropy. ''The Chroni ...
'' in 2005. Marcus also funded and founded The Marcus Institute, a center for the provision of services for children and adolescents with
developmental disabilities
Developmental disability is a diverse group of chronic conditions, comprising mental or physical impairments that arise before adulthood. Developmental disabilities cause individuals living with them many difficulties in certain areas of life, espe ...
. In May 2005, Marcus was awarded the Others Award by the
Salvation Army
Salvation (from Latin: ''salvatio'', from ''salva'', 'safe, saved') is the state of being saved or protected from harm or a dire situation. In religion and theology, ''salvation'' generally refers to the deliverance of the soul from sin and its c ...
, its highest honor. Marcus donated $25 million to
Autism Speaks
Autism Speaks Inc. is a controversial autism advocacy organization and the largest autism research organization in the United States. It sponsors autism research and conducts awareness and outreach activities aimed at families, governments, an ...
to spearhead its efforts to raise money for research on the causes and cure for autism. He is an active member of the board of directors. Bernie and Billi Marcus are signatories of
The Giving Pledge
The Giving Pledge is a campaign to encourage extremely wealthy people to contribute a majority of their wealth to philanthropic causes. , the pledge has 236 signatories from 28 countries. Most of the signatories of the pledge are billionaires, an ...
, a commitment to give away the majority of their wealth to philanthropic causes.
Marcus is chairman of the Marcus Foundation, whose focuses include children, medical research, free enterprise, military veterans, Israeli causes and the community. Marcus is on the Board of Directors and an active volunteer for the
Shepherd Center
Shepherd Center is a private, not-for profit hospital in Atlanta, Georgia. Founded in 1975, the 152-bed hospital focuses on the medical treatment, research and rehabilitation for people with spinal cord injury and disease, acquired brain injury, ...
. His main focus is in providing care for war veterans with traumatic brain injuries. He was named a Georgia Trustee in 2009. The award is given by the
Georgia Historical Society
The Georgia Historical Society (GHS) is a statewide historical society in Georgia. Headquartered in Savannah, Georgia, GHS is one of the oldest historical organizations in the United States. Since 1839, the society has collected, examined, and ta ...
, in conjunction with the
Governor of Georgia
The governor of Georgia is the head of government of Georgia and the commander-in-chief of the state's military forces. The governor also has a duty to enforce state laws, the power to either veto or approve bills passed by the Georgia Legisl ...
, to individuals whose accomplishments and community service reflect the ideals of the founding body of
Trustees
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to t ...
, which governed the Georgia colony from 1732 to 1752. In 2012, Marcus was awarded the
William E. Simon Prize for Philanthropic Leadership
The William E. Simon Prize for Philanthropic Leadership is an annual award given by the William E. Simon Foundation in honor of its founder, former Secretary of the Treasury and financier William E. Simon, and administered by the Philanthropy Ro ...
.
In 2016, Marcus and his wife Billi donated $25 million to the construction of the $133 million MDA Marcus National Blood Services Centre in Israel.
Books
In 2001, Marcus, along with Arthur Blank and Bob Andelman, wrote the book ''Built from Scratch: How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion''.
Marcus, with Catherine Lewis, wrote a book titled ''Kick Up Some Dust: Lessons on Thinking, Giving Back and Doing It Yourself''. The book debuted at The Book Festival of the Marcus Jewish Community Center of Atlanta (MJCCA) on November 6, 2022.
Personal life
Marcus has been married twice. He has two children with his first wife, Ruth: Frederick Marcus and Susanne Marcus Collins. With his second wife, Billi, he has a stepson, Michael Morris.Reference for Business: "Bernie Marcus" retrieved March 30, 2014