July 17, 2019
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Home Depot co-founder plans to give away most of his billions

Ted Shaffrey | AP
Ted Shaffrey | AP
A Home Depot store is seen in Passaic, New Jersey, Aug. 14, 2018.

The billionaire co-founder of Home Depot says he’s planning to give away nearly his entire fortune.

To date, Bernie Marcus said he has given close to $2 billion to more than 300 organizations around the globe, the Atlanta Journal-Constitution reports.

The 90-year-old Atlanta resident declined to say how much he was worth or how much he would give away. The Bloomberg Billionaires Index estimates his net worth at $4.53 billion, roughly half of what he had a year ago.

Marcus said when he dies, 80 percent to 90 percent percent will go to the Marcus Foundation, which supports sustainability measures related to community food resources. He’s also outlined philanthropic plans for medical treatment and research, as well as building a chain of veteran health care centers across the country, according to the Atlanta Journal-Constitution.

Marcus and his wife, Billi, joined the Giving Pledge in 2010 after donating $250 million to build the Georgia Aquarium and donating millions more to the Marcus Autism Center in Atlanta.

“To make quarterly profits is one thing but changing just one life is so much better,” he said in the pledge.

Marcus is also a major political donor. He was a top contributor to Donald Trump’s presidential bid and told the Atlanta Journal-Constitution that he will be supporting the president’s 2020 campaign. But he emphasized that his philanthropic giving far outpaces his political contributions.

 



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