Bernard Marcus
| Bernard Marcus | |
|---|---|
 |
|
| Born |
May 12, 1929 Newark, New Jersey |
| Residence | Atlanta, Georgia |
| Citizenship | United States |
| Education | Rutgers University |
| Alma mater | Rutgers University |
| Occupation | Co-founder of Home Depot |
| Net worth |
 US$3.5 billion (September 2015) |
| Political party | Republican |
| Spouse(s) | Ruth Rados Billi Marcus |
| Children |
Frederick Marcus Susanne Marcus Collins |
Frederick Marcus
Bernard "Bernie" Marcus (born May 12, 1929) is an American businessman and philanthropist. He co-founded Home Depot and was the company's first CEO; he served as Chairman of the Board until retiring in 2002.
Bernard Marcus was born to Russian Jewish immigrant parents in Newark, New Jersey. He grew up in a tenement and graduated from South Side High School in 1947. Marcus wanted to become a doctor but could not afford the tuition, so he worked for his father as a cabinet maker through Rutgers University to earn a pharmacy degree. While there he joined the Alpha Epsilon Pi fraternity. He was also a brother of Alpha Kappa Psi Business Fraternity.
Later, Marcus worked at a drugstore as a pharmacist but became more interested in the retailing side of the business. He worked at a cosmetics company and various other retail jobs, eventually reaching a position as CEO of Handy Dan Improvement Centers, a Los Angeles-based chain of home improvement stores. In 1978 both he and future Home Depot co-founder Arthur Blank were fired during a corporate power struggle at Handy Dan. In 1979 they founded the home-improvement retailer The Home Depot, with the help of merchandising guru Pat Farrah and New York investment banker Ken Langone 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 U.S. Business Hall of Fame in 2006.
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