Home Depot co-founder Bernie Marcus passed away at 95 at his home in Boca Raton, Florida, on Monday
Marcus' death, which occurred with family by his side, was confirmed by Home Depot on Tuesday.
"We owe an immeasurable debt of gratitude to Bernie," the company expressed, honoring him as a "retail visionary" who valued employees, customers, and communities deeply.
Marcus, along with his partner Arthur Blank, started Home Depot in 1978, introducing a revolutionary warehouse-style store concept focused on home improvement. This "do-it-yourself" approach offered customers a wide selection of products at discounted prices, supported by knowledgeable staff who served as both advisors and salespeople.
The first Home Depot store, with financial support from investor Ken Langone, opened in Atlanta, and from there, the chain expanded to over 2,300 locations across North America.
Bernie Marcus's Vision Transformed Retail Industry
Under Marcus' leadership as CEO until 1997 and later as chairman until 2002, Home Depot's success grew rapidly. His approach to customer service and employee care was unique at the time, as he insisted on providing stock options to employees, creating thousands of millionaires among Home Depot's original staff.
"He was a master merchant," said Blank, describing Marcus's ability to "see around corners" and lead the company to unmatched success.
Beyond his business accomplishments, Marcus was a major philanthropist. In 2003, he donated $250 million for the creation of the Georgia Aquarium, one of his many contributions to the state. He also founded the Israel Democracy Institute in 1991 to promote policy research.
According to CBS News, Marcus leaves behind his wife, Billi, and three children. His legacy endures not only through Home Depot's ongoing success but also in the lasting impact he made in business and philanthropy.
