Arthur Blank was born on September 27, 1942, in Queens, New York, to Jewish parents Molly and Max Blank. Growing up with his older brother, Michael, Blank showed an early inclination toward business and leadership. He attended Stuyvesant High School in Manhattan before enrolling at Babson College, a prestigious business school. Graduating in 1963, he began laying the groundwork for what would become an extraordinary career in business and philanthropy.
Career Beginnings
Following his graduation, Blank started his professional journey as a senior accountant at Arthur Young and Company. He then moved to the Daylin Corporation, where he quickly rose to prominence, eventually leading the company’s Elliott’s Drug Stores and Stripe Discount Stores divisions as president. When these divisions were sold, Blank transitioned to Handy Dan Home Improvement Centers, where he served as vice president. However, an internal corporate dispute led to his firing in 1978, along with the company’s CEO, Bernard Marcus.
Founding of The Home Depot
Following their dismissal, Blank and Marcus partnered with Ron Brill and Pat Farrah to create The Home Depot in 1979. With the financial backing of investment banker Ken Langone, they aimed to revolutionize the home improvement industry. Their vision was to create a one-stop superstore for DIY home renovators, featuring a warehouse-style layout.
The first two Home Depot stores opened in Atlanta, Georgia. By 1981, the company went public on the NASDAQ, and by 1984, it was listed on the New York Stock Exchange. Over the next decade, The Home Depot rapidly expanded across the country, surpassing Lowe’s as the largest home improvement retailer in the United States by 1989. This unprecedented growth turned Blank and his co-founders into billionaires.
Blank served as The Home Depot’s president for 19 years before succeeding Marcus as CEO. He retired in 2001, cementing his legacy as a pioneer in the retail industry.
Sports Ownership and Business Expansion
Beyond his success with The Home Depot, Blank ventured into professional sports ownership. In 2002, he purchased the Atlanta Falcons NFL franchise from then-owner Taylor Smith. Under his ownership, the team saw a resurgence in performance and business operations. In 2014, Blank played a crucial role in the construction of the state-of-the-art Mercedes-Benz Stadium, which serves as the home for the Falcons.
In 2014, he expanded his sports portfolio by launching Atlanta United FC, an MLS franchise. The team debuted in 2017 and quickly found success, winning the MLS Cup in 2018. Atlanta United also became one of the most valuable franchises in Major League Soccer, proving Blank’s ability to grow businesses across multiple industries.
Additionally, Blank owns PGA TOUR Superstores and is the chairman of AMB Group, LLC, the parent company of his sports enterprises. He also operates Mountain Sky Guest Ranch and West Creek Ranch near Yellowstone National Park in Montana.
Net Worth and Financial Standing
As of 2024, Arthur Blank has an estimated net worth of $7 billion, making him one of the wealthiest individuals in Georgia. His fortune primarily stems from his role in co-founding The Home Depot, as well as his investments in sports franchises and other businesses. Blank’s financial success is complemented by his significant philanthropic contributions, as he has pledged to donate at least half of his wealth to charitable causes through the Giving Pledge.
Philanthropy and Charitable Contributions
Blank is widely recognized for his philanthropic efforts. He is the chairman of The Arthur M. Blank Family Foundation, which focuses on education, youth development, and community betterment. In 2020, he donated $200 million toward the construction of a new Children’s Healthcare of Atlanta hospital, which is set to open in 2025.
His commitment to philanthropy extends beyond financial contributions. Blank is also actively involved in initiatives that support affordable housing, healthcare access, and economic development in underserved communities.
Personal Life and Family
Arthur Blank has been married and divorced multiple times. His first marriage was to philanthropist Diana Latow, with whom he shares three children: Kenny, Dena, and Danielle. They divorced in 1993. In 1995, he married Stephanie Wray, a former Home Depot designer, and they had three children together: Joshua, Max, and Kylie. The couple divorced in 2014.
In 2016, Blank married his third wife, Angela Macuga, a businesswoman 26 years younger than him. However, their marriage ended in divorce in 2019. Despite his personal challenges, Blank maintains close relationships with his children and remains dedicated to his family’s legacy of philanthropy and business leadership.
Legacy and Future Endeavors
Arthur Blank’s influence extends beyond retail and sports. His ability to create, grow, and sustain successful businesses has made him an influential figure in both the corporate and sports industries. His commitment to philanthropy ensures that his wealth will continue to benefit communities long after his lifetime.
With ongoing investments in sports, business, and charitable causes, Blank remains an active figure in multiple sectors. As he continues to lead initiatives in business development and community service, his impact will undoubtedly shape future generations.