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What is Arthur Blank’s Net Worth?
Arthur Blank is a businessman and philanthropist who’s greatest recognized for co-founding the house enchancment retail firm the Home Depot. Arthur Blank has a net worth of $7 billion. Arthur Blank is among the richest individuals in Georgia. Additionally, he owns the Atlanta Falcons of the NFL and Atlanta United of the MLS. Under his possession, the latter staff gained the 2018 MLS Cup.
After working as an accountant for numerous corporations, together with Arthur Young and Company and the Daylin Company, he turned Vice President of Finance for the Handy Dan Improvement Centers. However, after a dispute with the board, he, and Handy Dan CEO, Bernard Marcus, had been fired. The two launched The Home Depot in 1979, and the corporate grew to be a multi-billion greenback success. He served as the corporate’s president till 1998, after which turned CEO. He retired in 2001.
He presently serves as Chairman, President, and CEO of AMB Group, LLC, and is the President of The Arthur Blank Family Foundation, each of that are charitable organizations.
Early Life and Education
Arthur Blank was born on September 27, 1942 within the Queens borough of New York City to Jewish dad and mom Molly and Max. He has an older brother named Michael. As a teen, Blank went to Stuyvesant High School in Manhattan. Following this, he attended the personal enterprise college the Babson Institute, from which he graduated in 1963.
Career Beginnings
After graduating from Babson, Blank turned a senior accountant for Arthur Young and Company. Later, he joined the Daylin company, the place he rose within the ranks to develop into president of the company’s Elliott’s Drug Stores and Stripe Discount Stores. When Daylin selected to unload that specific division, Blank transitioned to a different division, Handy Dan Home Improvement Centers. In that division, he served as vice chairman, whereas Bernard Marcus served as CEO; each had been ultimately fired in 1978 throughout an inside wrestle for energy.
The Home Depot
Following their termination from Daylin in 1978, Blank and Marcus co-founded the Home Depot with Ron Brill and Pat Farrah. Investment banker Ken Langone was introduced on to assist safe the required capital. The Home Depot was created with the intention of offering the general public home-improvement superstores that may function one-stop outlets for DIY homemakers. The first two shops opened in 1979 within the Atlanta, Georgia metropolitan space. Two years later, the Home Depot went public on the NASDAQ, and in 1984, it joined the New York Stock Exchange. By this time, the corporate was working 19 shops all through each Georgia and Florida. It subsequent expanded to Texas within the Dallas space. In 1989, the corporate eclipsed Lowe’s to develop into the most important residence enchancment chain within the nation. The Home Depot revolutionized the enterprise due to its warehouse stock idea, and made Blank and Marcus billionaires within the course of.
For 19 years, Blank served as president of the Home Depot; he then succeeded Marcus as CEO. In 2001, he retired from the corporate as co-chairman.
Arthur Blank – Self Made Billionaire/ Paras Griffin/Getty Images
Sports Ownership
Beyond the Home Depot, Blank is understood for his involvement in skilled sports activities possession. In early 2002, he bought the NFL’s Atlanta Falcons from proprietor Taylor Smith. Two years later, Blank bought the AFL’s Georgia Force, and moved it to Atlanta from suburban Gwinnett County.
In addition to soccer groups, Blank is the founder and proprietor of the MLS staff Atlanta United FC, the primary MLS franchise to be primarily based in Atlanta. The staff, which started taking part in in 2017, shares Mercedes-Benz Stadium with Blank’s personal Atlanta Falcons. Notably, Atlanta United gained the 2018 MLS Cup underneath Blank’s possession. The franchise can be estimated to be the second most precious within the league.
Other Business Endeavors
Among his different enterprise ventures, Blank serves because the chairman of AMB Group, the mum or dad firm of the Atlanta Falcons and Atlanta United. He additionally serves because the chairman of his personal Arthur Blank Family Foundation, and sits on the board of trustees of Emory University. In 2020, it was introduced that the newly constructed Children’s Healthcare of Atlanta hospital could be named in honor of Blank, who donated $200 million to the mission by means of his basis. The hospital is scheduled to open someday in 2025.
Personal Life and Properties
Blank has been wed and divorced a number of instances. His first marriage was to philanthropist Diana Latow, with whom he had three kids: Kenny, Dena, and Danielle. The couple divorced in 1993. Two years later, Blank married Stephanie Wray, whom he met when Wray was working as a designer at an Atlanta Home Depot location. Together, they’d three kids named Joshua, Max, and Kylie; they ultimately divorced in 2014. Two years after that, Blank wed his third spouse, Angela Macuga, a businesswoman 26 years his junior. The pair separated in 2019 and shortly after filed for divorce.
Among his many notable properties, Blank owns each Mountain Sky Guest Ranch and West Creek Ranch simply exterior Yellowstone National Park in Montana. Additionally, he owns quite a lot of PGA TOUR Superstores. Blank is certainly one of many rich people to have signed the Giving Pledge, by which he commits himself to making a gift of at the least half of his wealth to charity throughout his lifetime.
All web worths are calculated utilizing knowledge drawn from public sources. When supplied, we additionally incorporate personal ideas and suggestions obtained from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as attainable, except in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
