Obituary: Bernard “Bernie” Marcus

Philanthropist and Co-Founder of The Home Depot

Bernard (Bernie) Marcus passed away on November 4, 2024, at the age of 95, in Boca Raton, FL.

Born on May 12, 1929, in Newark, New Jersey, Bernie is a name synonymous with entrepreneurial success and generous philanthropy.

In 1978, he co-founded The Home Depot, now the world’s largest home improvement retailer, served as its first CEO, and was chairman until his retirement in 2002. The company began in 1978 and opened its first two stores in Atlanta, Georgia, in 1979. The company grew to embody the ideals of its founders, Bernie, Arthur Blank and Ken Langone to treat employees and their local communities as family, reward associates with stock options, and provide associates and their families with financial assistance in times of need. There are now approximately 500,000 associates and more than 2,300 stores in the U.S., Canada, and Mexico, with 2023 revenues of $152.7 billion.

For many people, creating a successful company would have been the achievement of a lifetime. But Bernie and his wife Billi began to focus their energy and resources on philanthropy.

The core values of The Home Depot – taking care of its people, giving back to its communities, and doing the right thing – became the fundamental principles of The Marcus Foundation, which Bernie founded in 1989. Bernie’s entrepreneurial business approach characterized his unique brand of hands-on philanthropy.

Since its founding, The Marcus Foundation has granted more than $2.7 billion through 3,500+ grants. Their contributions support a wide range of causes, including medical research; Jewish causes; free enterprise, including veteran initiatives and national security; the health and welfare of children, with an emphasis on civics education; and targeted community support. Through these focus areas, Bernie and Billi’s philanthropy has made a significant impact by changing and saving countless lives.

Bernie Marcus was born the youngest of four children of Sara and Joe Marcus, poor Russian immigrants, in Newark, New Jersey. They lived in a fourth-floor walkup tenement,

and it was there he learned from his mother the importance of giving back, “Tzedakah.” He began working at age 11 to help support his family, with jobs including grocery store and candy store clerk, a theater usher, a magician and a hypnotist. He attended Southside High School, was named Most Popular, served on the swim team, and graduated in 1947. He had a propensity for medicine, and his dream was to go to medical school and be a doctor – a psychiatrist. When he completed most of his pre-med courses at Rutgers University, he was told he had been accepted at Harvard Medical School with a scholarship. His dream was not to be realized: a quota on Jewish students required an additional admission fee that was more than his entire family could afford. He returned to Rutgers and graduated with a degree in pharmacy in 1954.

During the following years, Mr. Marcus climbed the corporate ladder at leading retail companies, including Two Guys, Daylin and Handy Dan. Mr. Marcus often said that being fired by Handy Dan in 1978, was both the low point in his life and the moment of greatest opportunity. He had already envisioned a store of placing all home improvement supplies under one roof, cutting out the middleman, and passing the savings to the customers. On June 29, 1978, The Home Depot was incorporated, and its first two stores opened in Atlanta, Georgia, in 1979. America soon became a nation of do-it-yourselfers, and The Home Depot became, and continues to be, one of the most successful and respected companies.

The Home Depot’s success allowed Bernie and Billi to establish The Marcus Foundation. It also compelled them to create a cultural asset, The Georgia Aquarium, to give thanks to the people of Atlanta and Georgia, who had supported them from the very beginning. This was the largest single grant The Marcus Foundation has given, and it opened in 2005 as the largest aquarium in the world.

Their extraordinary generosity has been widely recognized for its enduring impact. Bernie and Billi Marcus were recently named the 2024 Philanthropists of the Year by Forbes and have received The Woodrow Wilson Award for Public Service, given to individuals who have served with distinction in public life. Mr. Marcus was named the inaugural recipient of Inc. 500’s Bernard A. Goldhirsh Award, was inducted into the Junior Achievement U.S. Business Hall of Fame, and has received the USO Patriot Award, as well as the Sea Keeper Award for promoting the restoration and protection of the world’s oceans.

The Marcuses were among the first to sign the Giving Pledge and have been recognized among the top 20 donors in the country.

Mr. Marcus co-authored two books, Built From Scratch, How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion, and Kick Up Some Dust, Lessons on

Thinking Big, Giving Back and Doing It Yourself. These books offer a glimpse into his remarkable journey and the lessons he’s learned along the way.

Bernie Marcus’s life story is one of extraordinary perseverance, innovative and entrepreneurial thinking, and heartfelt generosity. From his humble beginnings in a New Jersey tenement to the heights of business success and philanthropy, Bernie’s journey is a powerful reminder of the impact one person can make. His story embodies the spirit of dreaming big, working hard, and always giving back—a legacy that continues to inspire and uplift countless lives.

Bernie is survived by his wife Billi, his sons Fred Marcus (Nancy) and Michael Morris, and was predeceased by daughter Susanne Marcus Collins. He had seven grandchildren and dozens of nieces and nephews and grand nieces and nephews.

Bernie loved medical research, Israel and Jewish causes, and veterans. In lieu of gifts or flowers, the Foundation and Marcus family asks that folks consider a donation to one of the following groups. Bernie would have also been very happy for donations in his honor to go to any other organizations meaningful to the donor that impactfully advance these causes.

• RootOne
• Avalon Action Alliance
• Marcus Autism Center
• Marcus Stroke and Neuroscience Center at Grady
• Marcus Neuroscience Institute at Boca Raton Regional Hospital
• Israel Democracy Institute Foundation
• Magen David Adom Marcus National Blood Services Center in Israel

Source: Dressler’s Jewish Funeral Care