By ANNE D’INNOCENZIO, Associated Press

NEW YORK (AP) — Bernard “Bernie” Marcus, co-founder of The Home Depot, the world’s largest home improvement chain, billionaire philanthropist and major Republican donor, has died. He was 95 years old.

Marcus died Monday in Boca Raton, Fla., surrounded by his family, according to a Home Depot spokesperson.

Marcus served as CEO of Home Depot, which grew rapidly during its first two decades, and served as chairman of the board until his retirement in 2002. In recent years, he has become a strong supporter of former President Donald Trump.

“We owe an immeasurable debt of gratitude to Bernie,” the company said in a statement. “He was a master trader and retail visionary. But more importantly, he valued our associates, our customers and our communities above all. He left us an invaluable legacy and the backbone of our company: our values ​​and our culture. »

The son of Russian Jewish immigrants, Marcus was born in 1929 and grew up in an apartment building in Newark, New Jersey, according to a biography on the company’s website. Marcus aspired to become a doctor, but his family could not afford medical school and he strived to become a pharmacist and earned a degree from Rutgers University. Marcus used to say he would skip classes to sell Amana freezers door-to-door, according to Home Depot.

After college, Marcus worked for manufacturing conglomerate O’Dell’s and retail chain Vornado, quickly rising through the corporate ranks. In 1972, Marcus was chairman and president of Handy Dan Improvement Centers, part of the Daylin conglomerate. It was there that Marcus formed a lasting friendship with Arthur Blank.

The big moment of his career came after he was fired by Handy Dan in 1978, along with Blank. Marcus had dreamed of a one-stop shop for DIYers. At age 49, Marcus and Blank founded Home Depot. Investment banker Ken Langone helped secure financing to launch The Home Depot, according to the company.

The first Home Depot opened in Atlanta the following year, and in 1981 the company went public and began selling stock. Today there are more than 2,000 Home Depot stores and the company employs more than 500,000 people. Over the past decade, Home Depot’s annual sales have doubled, reaching nearly $153 billion in 2023.

Marcus has financially supported various charities as well as Jewish and medical organizations through donations. He also built the Georgia Aquarium in Atlanta, one of the largest in the world. The company said its philanthropic work will continue through the Marcus Foundation, with a focus on Jewish causes, children, medical research, free enterprise and community.

Marcus was an avid financial supporter of Donald Trump, donating nearly $5 million to the Republican Party between 2016 and 2020, according to OpenSecrets, an organization that tracks political spending. Last year, Marcus wrote an opinion piece for the right-wing site Real Clear Politics, a clearinghouse for election data and analysis, that explained his reasons for supporting Trump for a second term.