Arthur M. Blank is a successful American businessman who was born on September 27, 1942. As a co-founder of The Home Depot, a retailer specializing in home improvement products, he gained widespread fame.
Additionally, he is the current owner of two professional sports clubs situated in Atlanta, Georgia. One of these teams is Atlanta United of Major League Soccer (MLS), who won the MLS Cup in 2018. The other is the Atlanta Falcons of the National Football League (NFL).
Arthur Blank Net Worth
Arthur Blank is a well-known philanthropist and businessman who helped develop the Home Depot, a chain of stores selling products for home renovation. Seven billion dollars is Arthur Blank’s net worth. Arthur Blank is among Georgia’s wealthiest residents. Furthermore, he is the owner of both the NFL’s Atlanta Falcons and the MLS’s Atlanta United. The latter squad won the 2018 Major League Soccer Cup while he was its owner.
He was the VP of finance for Handy Dan Improvement Centers after a career in accounting with Arthur Young and Company and the Daylin Company, among others. He was, however, fired along with Bernard Marcus, CEO of Handy Dan, following an argument with the board.
They started The Home Depot in 1979, and it became a multi-billion dollar corporation. He was president of the corporation until 1998, after which he became chief executive officer. In 2001, he stepped down from his position.
Not only is he the president of the humanitarian organization The Arthur Blank Family Foundation, but he also serves as chairman, president, and chief executive officer of AMB Group, LLC.
Arthur Blank Early Life and Education
The son of Jewish parents Molly and Max, Arthur Blank came into this world in the New York City neighborhood of Queens on September 27, 1942. Michael is the name of his older brother. Blank attended Manhattan’s Stuyvesant High School during his teenage years. After that, in 1963, he earned a degree in business from the private Babson Institute.
Arthur Blank Career Beginnings
Blank joined Arthur Young and Company as a senior accountant upon graduating from Babson College. He then became president of Elliott’s Drug Stores and Stripe Discount Stores, two divisions of the Daylin firm, after climbing the corporate ladder.
Blank moved to Handy Dan Home Improvement Centers after Daylin decided to sell off that segment. In that department, he was VP and Bernard Marcus was CEO; in 1978, they were both ousted as a result of a power dispute within the company.
Arthur Blank:The Home Depot
Blank and Marcus, along with Ron Brill and Pat Farrah, co-founded the Home Depot after being fired from Daylin in 1978. Ken Langone, an investment banker, was hired to assist in raising the required funds. The original intention behind opening the first Home Depot was to provide people a place to go for all of their home renovation needs in a single convenient location.
In 1979, the Atlanta, Georgia metropolitan region saw the opening of the first two businesses. The Home Depot joined the New York Stock Exchange in 1984 and went public on the NASDAQ two years after that. The business had expanded to 19 locations in Florida and Georgia by this point.
The Dallas area in Texas was the next stop for its expansion. After passing Lowe’s in 1989, the firm became the biggest home improvement chain in the United States. Blank and Marcus became billionaires when they created The Home Depot, which changed the way businesses worked with their warehouse inventory idea.
After succeeding Marcus as CEO, Blank continued his 19-year tenure as president of The Home Depot. Retiring as co-chairman in 2001, he left the corporation.
Arthur Blank Other Business Endeavors
The Atlanta Falcons and Atlanta United are both owned by AMB Group, of whom Blank is the chairman. This is only one of Blank’s many business endeavors. On top of his other roles, he chairs the Arthur Blank Family Foundation and is a trustee at Emory University.
The recently constructed Children’s Healthcare of Atlanta hospital was named after Blank in 2020. Blank’s foundation contributed $200 million to the building. Sometime in the year 2025, the hospital is expected to reopen.
Arthur Blank Personal Life and Properties
Blank has been through many marriages and divorces. He had three children—Kenny, Dena, and Danielle—from his first marriage to philanthropist Diana Latow. Their divorce was finalized in 1993. Stephanie Wray was a designer at the Atlanta Home Depot when Blank met her two years ago; the couple later tied the knot. Joshua, Max, and Kylie were their children from their marriage, and they filed for a divorce in 2014.
A businesswoman named Angela Macuga, who was 26 years his junior, became Blank’s third wife two years later. They divorced shortly after their 2019 separation. Outside of Montana’s Yellowstone National Park, Blank owns the Mountain Sky Guest Ranch and the West Creek Ranch, two of his other prestigious properties.
He also has a handful of PGA TOUR Superstores under his ownership. Blank has joined the ranks of other affluent people who have pledged to donate half of their money to charity while they are alive by signing the Giving Pledge.
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