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What is Bernard Marcus’s Net Worth?
Bernard Marcus, co-founder of The Home Depot, has an estimated net worth of $9.13 billion. The primary source of his wealth stems from his stake in The Home Depot, the home improvement retail giant he co-founded in 1978. The company’s tremendous success and growth over the decades have significantly contributed to Marcus’s financial status.
Despite his immense wealth, Marcus is known for his philanthropic efforts and has pledged to give away 90% of his fortune to charity. He is a signatory of The Giving Pledge.
Here’s the breakdown of Bernard Marcus’s net worth:
Name: | Bernard Marcus |
Net Worth: | $9.13 Billion |
Date of Birth: | May 12, 1929 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Bernard Marcus was born on May 12, 1929, in Newark, New Jersey, to Russian Jewish immigrant parents. Growing up in a tenement as the youngest of four children, Marcus experienced a challenging childhood marked by financial hardship.
Despite these difficulties, he excelled academically and graduated from South Side High School in 1947. Marcus initially aspired to become a doctor and was accepted to Harvard Medical School, but he could not afford the tuition.
Instead, he attended Rutgers University, where he earned a degree in pharmacy. During his time at Rutgers, Marcus was an active member of the Alpha Epsilon Pi fraternity.
Career
Bernard Marcus’s career began in the pharmaceutical industry, where he worked as a pharmacist. However, he soon discovered a passion for retail and transitioned into the retail sector.
Marcus held various positions in retail companies, including a cosmetics company and the Vornado chain, where he eventually became vice president.
His career took a significant turn when he joined Handy Dan Home Improvement Centers, a Los Angeles-based chain, as CEO. In 1978, Marcus and Arthur Blank, who was also an executive at Handy Dan, were fired during a corporate power struggle. This setback led them to co-found The Home Depot in 1979, along with merchandising expert Pat Farrah and investment banker Ken Langone.
The first two Home Depot stores opened in Atlanta and revolutionized the home improvement industry with their warehouse concept. Marcus served as the company’s first CEO for 19 years and as chairman until his retirement in 2002.
Under his leadership, The Home Depot grew into a retail giant, making Marcus and his co-founders billionaires.
Political Activity
Bernard Marcus has been an active political donor, primarily supporting conservative candidates and causes. He has made substantial contributions to the Republican National Committee, the National Republican Congressional Committee, and various super PACs, including Right to Rise USA, which supported Jeb Bush’s 2016 presidential campaign.
Marcus has also donated to the Foundation for Defense of Democracies, a think tank based in Washington, D.C. His political donations reflect his focus on economic issues and his belief in strong economic policies as a foundation for national strength.
Despite his significant political involvement, Marcus has expressed reservations about some candidates, including former President Donald Trump, while still supporting their economic and foreign policies. His contributions have made him a notable figure in conservative political circles.
Philanthropy
Bernard Marcus is renowned for his extensive philanthropic efforts, having pledged to give away 90% of his estimated $9.49 billion fortune to charity. As signatories of The Giving Pledge, Bernie and his wife Billi have committed to donating the majority of their wealth during their lifetimes. The Marcus Foundation, established in 1989, is the primary vehicle for their charitable giving.
Some of Marcus’s notable philanthropic contributions include:
- Donating $250 million to build the Georgia Aquarium, which opened in 2005.
- Founding and funding The Marcus Institute for children with developmental disabilities.
- Donating $25 million to Autism Speaks to support autism research.
- Contributing $80 million to the Shepherd Center, a rehabilitation facility for patients with brain-related illnesses.
- Pledging $20 million to help launch the Gary Sinise Foundation Avalon Network for veterans.
Marcus’s philanthropic focus areas include healthcare, education, Jewish causes, and support for military veterans.
Books
Bernard Marcus has authored and co-authored several books throughout his career, sharing his business insights and personal experiences. His notable works include:
- “Built from Scratch: How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion” (1999), co-authored with Arthur Blank and Bob Andelman.
- “Kick Up Some Dust: Lessons on Thinking, Giving Back and Doing It Yourself” (2022), co-authored with Catherine Lewis.
These books offer valuable insights into Marcus’s entrepreneurial journey, leadership philosophy, and approach to philanthropy. They have been well-received, with “Built from Scratch” rated 4.5 out of 5 stars on Amazon.
Personal Life
Bernard Marcus has been married twice. From his first marriage to Ruth, he has two children: Frederick Marcus and Susanne Marcus Collins.
His second wife is Billi Marcus, with whom he has a stepson, Michael Morris.
Despite his immense wealth, Marcus maintains a relatively low-profile personal life. He enjoys golf, swimming, and is a fan of the Atlanta Hawks professional basketball team.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
