What is Bernie Marcus Net Worth in 2020? Find Out About His Wealth and Philanthropic Works
Grab all the details on the net worth of the American businessman Bernie Marcus.
The American businessman Bernard Marcus is best known as a co-founder of the largest home improvement retailer in the United States, The Home Depot. He was the company's CEO and chairman until he retired in 2002.
Bernie Marcus had to get through many ups and downs in his career to become a successful person he is today. He is currently one of the wealthiest people in the United States. But exactly how much money has the 91-year-old businessman made throughout his life? And how did he make all of his fortunes? Let's find out.
What is Bernie Marcus' Net Worth?
Bernie Marcus co-founded the largest home improvement retailer in the United States, The Home Depot. Working for many years as the head of one of the biggest companies, Bernie Marcus earned a tremendous amount of money. According to Forbes, Bernie Marcus holds an estimated net worth of $6.9 billion in 2020, making him one of the wealthiest people in the United States.
As of 2020, Bernie Marcus holds an estimated net worth of $6.9 billion.
Source: Fox Business
In his early years of working, Bernie Marcus was a pharmacist at a drugstore. But over time, he grew more interested in the retailing side of the business. He then worked at a cosmetics company and various other retail jobs. Over the years, he got promoted, and eventually, he became the CEO of Handy Dan Improvement Centers, a Los Angeles-based chain of home improvement stores.
But in 1978, both he and Arthur Blank were fired during a corporate power struggle at Handy Dan. The two men later co-founded the home-improvement retailer The Home Depot in 1979. They created the company with the help of merchandising expert Pat Farrah and New York investment banker Ken Langone who assembled a group of investors.
Home Depot became the most successful home-improvement retailer, and it revolutionized the home improvement business with its warehouse concept. Blank Marcus and Ken Langone went on to become billionaires through the company's tremendous success. Marcus served as the company's Chief Executive Officer for 19 years. He remained as the chairman of the company's board before his retirement in 2002.
Bernie Marcus is a Big Philanthropist Too
Bernie Marcus co-founded the Israel Democracy Institute in 1991. He contributed $5 million for the construction of the institute's building in Jerusalem's Talbiya neighborhood and invested hundreds of millions of shekels in its ongoing operation over the years.
Bernie Marcus is one of the most charitable people in America.
Source: Business Insider
Bernie also provided tremendous financial assistance of $250 million in launching the Georgia Aquarium in downtown Atlanta, Georgia, in 2005. For giving away such a huge donation, Bernie and his wife were listed among the top charitable donors in the country by The Chronicle of Philanthropy in the same year.
Marcus funded and co-founded The Marcus Institute, a center for the provision of services for children and adolescents with developmental disabilities. He also donated $25 million to Autism Speaks to spearhead its efforts to raise money for research on the causes and cure for autism. In 2016, Marcus and his wife Billi donated $25 million to the construction of the $133 million MDA Marcus National Blood Services Centre in Israel.
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