Home Depot Co-Founder Bernie Marcus Dies At 95

BOCA RATON, FL — Bernard "Bernie" Marcus, co-founder of the Atlanta-based Home Depot chain, has died. He was 95.

Home Depot announced the news Tuesday both on Facebook and on its website.

Marcus died of an unknown cause Monday night at his Boca Raton, Florida home, the Atlanta Journal-Constitution reported, citing The Marcus Foundation President Jay Kaiman.

"He’s left us with an invaluable legacy and the backbone of our company: our values and our culture. He will be tremendously missed," Home Depot said on Facebook.

Marcus, who co-founded Home Depot with Arthur Blank and Ken Langone, was remembered as a "master merchant and a genius with customer service."

In a statement released Tuesday, Blank said he is heartbroken after learning of Marcus' death.

Blank added he did not only lose a brother in Marcus, but he also lost a father figure, mentor and partner.

"While this loss is profoundly painful, I am grateful for the close to 60 years we spent together, navigating challenges and celebrating successes, and I am honored to have been a part of Bernie's remarkable life," Blank said.

He noted Marcus' philanthropy, saying Marcus believed in giving back to the community.

"His commitment to innovation, integrity and service was an inspiration to everyone who knew him, including me. His passion for improving people's lives drove his generosity, and it was part of his DNA in leading The Home Depot and continued through his life and will continue well beyond his passing. Beyond Bernie's professional success, Bernie's devotion to his beautiful family was equally admirable," Blank said.

"Bernie's tremendous commitment to so many causes will live on, as will the immeasurable impact on countless individuals and families who have been blessed by his giving heart. I will forever carry his memory and influence on my life with me."

Marcus was a supporter of the Georgia Research Alliance, according to the organization, which advocates for research and entrepreneurship at Georgia universities.

"One of Georgia’s greatest philanthropists of all time, Bernie made it possible for scientists to explore new worlds and break new ground in discovery," the GRA said in a Facebook post.

Who Was Bernie Marcus?

Marcus was born in 1929 to Russian Jewish immigrants, according to his biography on the company website. He was raised in Newark, New Jersey.

Though Marcus' dream was to become a doctor, his family was unable to afford medical school. This led him to attend pharmacy school and graduate from Rutgers University.

Post-college, he worked for manufacturer O'Dell and retail chain Vornado. Then, in 1972, Marcus became board chairman and president of Handy Dan Improvement Centers, which is part of the Daylin conglomerate.

It was while at Daylin that Marcus became friends with Blank.

At age 49, Marcus and Blank were terminated from Handy Dan in April 1978. This segued into Blank and Marcus linking with investment banker Ken Langone to gain financing for The Home Depot.

A year later, they were opening the first set of Home Depot stores in Atlanta. Now, the hardware company has gone international and employs at least 500,000 people.

Marcus' philanthropic work began with The Marcus Institute, currently known as the Marcus Autism Center. The center benefits children who were diagnosed with autism and related disorders, according to his biography.

Other community work includes establishing Project Share in partnership with The Shepherd Center in Atlanta and The Marcus Foundation.

Marcus and his wife built the Georgia Aquarium, an Atlanta-based nonprofit that performs conservation and research, according to his biography.

"They dedicated it to the people of Georgia and the associates, customers and shareholders of The Home Depot, as a way of saying thank you for making The Home Depot a success," his biography read.

Funeral arrangements for Marcus have not yet been revealed.