Shortly before the death of a Home Depot co-founder, he stipulated the fate of his massive fortune — and a deadline for his will to be executed.
Bernie Marcus, co-founder of the home improvement giant, died at 95 on Nov. 4 in his Florida home, according to the Atlanta Journal-Constitution.
Shortly before his death, however, Marcus set the fate of his massive $10 billion fortune. Unlike leftist elites, it seems Marcus’ wealth will be put to work bettering American society.
Marcus decided that the vast majority of his estate should be given away to charity.
The commitment is one he held for many years preceding his death, but his most recent adjustment set a time limit to the gifting of his wealth.
According to the Atlanta Journal-Constitution, the Marcus Foundation was tasked with donating roughly 90 percent of the wealth remaining after the Home Depot co-founder’s death.
Board members of the foundation, including Marcus’ wife Billi and his two sons, have been given only 20 years to donate the fortune.
In the foundation’s 35 years of existence, it has so far given away some $2.7 billion.
Marcus’ updated stipulation means the foundation must now rapidly increase its rate of