Arthur Blank Net Worth

What is Arthur Blank's Net Worth?

Arthur Blank is a distinguished businessman and philanthropist, renowned for co-founding The Home Depot. With a net worth of $7 billion, Blank stands among the wealthiest individuals in Georgia. Besides his business achievements, he owns the Atlanta Falcons of the NFL and Atlanta United of the MLS, with the latter winning the 2018 MLS Cup under his leadership.

Arthur Blank's initial career began in accounting, working with firms like Arthur Young & Company and the Daylin Corporation. He rose to become Vice President of Finance at Handy Dan Improvement Centers, but after a dispute with the board, he and CEO Bernard Marcus were dismissed. In 1979, they launched The Home Depot, which became a multi-billion-dollar enterprise. Arthur served as President until 1998, then as CEO, before retiring in 2001.

Presently, he is the Chairman, President, and CEO of AMB Group, LLC, and presides over The Arthur Blank Family Foundation, both committed to philanthropic endeavors.

Early Life and Education

Born on September 27, 1942, in Queens, New York City, to Jewish parents Molly and Max, Arthur Blank has an older brother named Michael. He attended Stuyvesant High School in Manhattan and went on to graduate from Babson Institute, a private business school, in 1963.

Career Beginnings

After graduating, Blank started as a senior accountant at Arthur Young & Company. He then joined Daylin Corporation, ascending to President of Elliott's Drug Stores and Stripe Discount Stores. When Daylin sold these divisions, Blank became Vice President of Handy Dan Home Improvement Centers, where Bernard Marcus served as CEO. Both were eventually dismissed in 1978 amidst internal power struggles.

The Home Depot

In 1978, after leaving Daylin, Blank and Marcus, along with Ron Brill and Pat Farrah, founded The Home Depot with investment banker Ken Langone providing capital. Their vision was to create a home-improvement superstore for DIY enthusiasts. The first stores opened in 1979 in the Atlanta metropolitan area. By 1981, the company went public on NASDAQ and joined the New York Stock Exchange in 1984. By then, The Home Depot operated 19 stores across Georgia, Florida, and Texas, eventually surpassing Lowe's as the largest home improvement chain in the U.S. The innovative warehouse inventory model propelled Blank and Marcus to billionaire status.

Arthur Blank – Self Made Billionaire/ Paras Griffin/Getty Images

For 19 years, Arthur served as President and then as CEO, before retiring as co-chairman in 2001.

Sports Ownership

Aside from his business endeavors, Blank is a significant figure in sports ownership. In 2002, he acquired the NFL's Atlanta Falcons. Two years later, he purchased the AFL's Georgia Force and moved it to Atlanta. Furthermore, he founded and owns the MLS team Atlanta United FC, which started playing in 2017 and won the 2018 MLS Cup. Atlanta United shares the Mercedes-Benz Stadium with the Atlanta Falcons and is among the most valuable MLS franchises.

Other Business Endeavors

Arthur Blank serves as chairman of AMB Group, overseeing both the Falcons and United. He is also the chairman of the Arthur Blank Family Foundation and a trustee at Emory University. In 2020, his foundation donated $200 million to the Children's Healthcare of Atlanta, leading to the naming of a new hospital in his honor, set to open in 2025.

Personal Life and Properties

Arthur Blank's personal life includes several marriages. His first marriage to philanthropist Diana Latow produced three children: Kenny, Dena, and Danielle, ending in divorce in 1993. He later married Stephanie Wray, whom he met at a Home Depot, and they had three children: Joshua, Max, and Kylie, divorcing in 2014. In 2016, he married Angela Macuga, a businesswoman 26 years his junior, separating in 2019.

Arthur owns the Mountain Sky Guest Ranch and West Creek Ranch in Montana, plus multiple PGA TOUR Superstores. Notably, he signed the Giving Pledge, promising to donate at least half of his wealth to charity.