As co-founder of The Home Depot, Bernie Marcus helped build the world's largest home improvement retailer from scratch. But in one of his final interviews before his death last November, Marcus made it clear he didn't think that kind of success could happen again—not in today's economy.
Speaking to the Financial Times in 2022 at age 93, Marcus pulled no punches when asked about the current political and labor climate.
"The rise of socialism is why nobody works, nobody gives a damn," he said. "‘Just give it to me. Send me money. I don't want to work — I'm too lazy, I'm too fat, I'm too stupid.'"
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Despite a record 154 million Americans employed and unemployment near a historic low of 3.7% at the time, Marcus argued that beneath the numbers, the entrepreneurial engine that built companies like The Home Depot had stalled.
"I'm worried about capitalism," he told FT. "Capitalism is the basis of Home Depot [and] millions of people have earned this success and had success."
He wasn't just talking about shareholders or executives, either.
"I'm talking manufacturers, vendors and distributors and people that work for us [who have been] able to enrich themselves by the journey of Home Depot. That's the success. That's why capitalism works."
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Marcus helped launch the chain in 1978, after being fired at age 49. The company's success made him a billionaire. But he was never shy about voicing concern that younger generations didn't share the same drive—or freedom of expression.
"We used to have free speech here. We don't have it. The woke people have taken over the world," he said. "You know, I imagine today they can't attack me. I'm 93. Who gives a crap about Bernie Marcus?"
Though he'd survived five heart bypass operations, Marcus joked he had no plans to slow down.
"I would rather wear out than rust out."
Marcus passed away at age 95. Born into poverty in a Newark tenement, he was the son of Russian and Ukrainian Jewish immigrants who fled antisemitism in the early 1900s. He spent his later years as a staunch Republican donor and philanthropist.
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Despite his harsh criticism of so-called entitlement culture, Marcus gave away more than $1 billion to causes ranging from medical research to veterans services. According to The Home Depot's tribute, his drive to give back came from childhood.
"My mother taught me to be generous," Marcus once said. "She believed that the more you give, the more you get."
His words about grit, capitalism, and personal responsibility still linger today, whether people agree with them or not.
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