Arthur Blank

Last updated

Arthur Blank
Arthur Blank 2016.jpg
Blank in 2016
Born
Arthur Morris Blank

(1942-09-27) September 27, 1942 (age 82)
Queens, New York City, U.S.
Education Babson College (BSBA)
Occupations
Spouses
  • Diana Latow (divorced 1993)
Stephanie Wray
​
​
(m. 1995;div. 2014)​
Angela Macuga
​
​
(m. 2016;div. 2019)​
[1]
ChildrenCasey Blank
Website www.blankfamilyofbusinesses.com

Arthur Morris Blank (born September 27, 1942) is an American businessman. He is best known for being a co-founder of the home improvement retailer The Home Depot. [2]

Contents

Blank owns two professional sports teams based in Atlanta, Georgia –the Atlanta Falcons of the National Football League (NFL) and Atlanta United FC of Major League Soccer (MLS), the latter of which won the 2018 MLS Cup [3]  –and is chairman of their parent company, AMB Group LLC.

Life

Arthur Blank was born in Flushing, New York. [4] He was born to Jewish parents, Max Blank, a pharmacist, and Molly Blank. He has an older brother named Michael. Blank graduated from Stuyvesant High School in New York City. [5]

Blank in 2009 Arthurblank.jpg
Blank in 2009

After graduating from Babson Institute in 1963, [6] Blank was hired by Arthur Young and Company, where he was a senior accountant. He later joined the Daylin corporation, where he rose to become president of Elliott's Drug Stores/Stripe Discount Stores, a division of Daylin. When Daylin decided to sell off that division, Blank moved to another division, Handy Dan Home Improvement Centers. Bernard Marcus was CEO of Handy Dan and Blank was vice president of finance when both were fired in 1978 as part of an internal power struggle.

In 1978, Blank co-founded Home Depot with Marcus. New York investment banker Ken Langone assembled the initial group of investors and merchandising expert Patrick Farrah helped founders realize their vision of one-stop shopping for the do-it-yourselfer. The first two stores opened on June 22, 1979 in Atlanta. [7] The stores revolutionized the home improvement business with its warehouse concept and Blank and Marcus became billionaires as a result. Blank spent 19 years as the company's president before succeeding Marcus as CEO. Blank retired from the company in 2001 as co-chairman. He received his MBA from Harvard.

On May 22, 2024, Blank won the Sports Business Journal's Lifetime Achievement Award for his work with the Falcons, United FC, and the surrounding community. [8] [9]

Sports ownership

In February 2002, Blank purchased the Atlanta Falcons franchise in the National Football League from owner Taylor Smith, the son of team founder Rankin M. Smith Sr. In September 2004, he bought the Arena Football League franchise, the Georgia Force; he moved the team to the city of Atlanta after it had spent several years in suburban Gwinnett County.

Blank has expressed serious interest in purchasing other franchises. In early 2006, he temporarily withdrew from contention as a potential buyer of the Atlanta Braves of Major League Baseball. Some months later, Blank re-entered serious talks with Time Warner and a report indicated that a sale was imminent. However, in February 2007, the Braves completed the sale of the team to Liberty Media. Blank has also founded an expansion Major League Soccer franchise named Atlanta United FC that began play in 2017. [10] The club shares Mercedes-Benz Stadium with the Falcons. Blank also helped the United States Soccer Federation set up their new headquarters in Atlanta, and the new training center was named in his honor.

Philanthropy

Blank is chairman of The Arthur Blank Family Foundation, [11] and serves on the Board of Trustees of Emory University.

In March 2020, Blank's foundation announced it would donate nearly $5.4 million to aid the coronavirus pandemic response in Georgia and Montana. [12] [13]

In October 2020, it was announced that the new Children's Healthcare of Atlanta hospital would be named after Arthur Blank after his foundation donated $200 million to the project. The Arthur M. Blank Hospital opened on September 29, 2024. [14] [15]

He is a signatory of The Giving Pledge committing himself to give away at least 50% of his wealth to charitable causes.

Personal life

DreAMBoat DreAMBoat.jpg
DreAMBoat

Blank has been married and divorced three times. He has three children with his first wife, Diana Blank (born 1942): Kenny Blank, Dena Blank Kimball, and Danielle Blank Thomsen; [16] [17] they divorced in 1993. [18] In 1995, he married Stephanie V. Blank (born 1968), a Blowing Rock, North Carolina native and Appalachian State University graduate. [19] They met when she worked as a designer at a Home Depot store in Atlanta. [19] They had three children - Joshua Blank, Max Blank, and Kylie Blank - before being divorced. [20] In June 2016, Blank married Angela Macuga (born 1968), [1] [21] who had three children from a previous marriage. [21] [22] They announced their pending divorce on January 1, 2019. [23]

Blank owns Mountain Sky Guest Ranch and West Creek Ranch outside Yellowstone National Park in Paradise Valley, Montana. He also owns several PGA TOUR Superstores.

On February 9, 2016, Blank disclosed that he had treatable prostate cancer. [24] On March 17, 2016, Blank announced that he is cancer-free following treatment. [25]

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References

  1. 1 2 Cleary, Tom (February 5, 2017). "Angela Macuga, Arthur Blank's Wife: 5 Fast Facts You Need to Know".
  2. ↑ "Our History". homedepot.com. The Home Depot. Archived from the original on January 21, 2011. Retrieved January 8, 2011.
  3. ↑ "ARTHUR BLANK - OWNER AND CEO". atlantafalcons.com. Archived from the original on January 8, 2011. Retrieved January 8, 2011.
  4. ↑ Images, Getty (February 2, 2017). "Super Bowl-Bound Arthur Blank on Why Jews Score as NFL Owners". The Forward. Retrieved September 16, 2020.
  5. ↑ "Arthur Blank - Owner and CEO - Biography". Archived from the original on December 17, 2007. Retrieved November 1, 2007.
  6. ↑ "The Incredible List of Successful Babson College Alumni (Part 1: Undergraduates)". VentureFizz. June 15, 2018. Retrieved May 10, 2019.
  7. ↑ Cain, Áine. "Here's what Home Depot looked like when it first opened in 1979". Business Insider. Retrieved November 5, 2024.
  8. ↑ @SBJ (May 22, 2024). "Lifetime Achievement Recipient: Arthur M. Blank, AMB Sports and Entertainment 🏆🌟 Arthur M. Blank rebuilt the Falcons, launched Atlanta United, and created a world-class stadium, all with a relentless focus on the people who matter most — the fans. #SBJAwards" (Tweet) – via Twitter.
  9. ↑ Cahillane, Mollie; Karp, Austin; Lemire, Joe; Schaefer, Rob; Silverman, Alex; Friend, Tom (May 22, 2024). "Winners of the 2024 Sports Business Awards". sportsbusinessjournal.com.
  10. ↑ Straus, Brian (June 24, 2015). "In 2017, get ready to watch Atlanta United FC in MLS". Sports Illustrated.
  11. ↑ "AMB Group names key executives". Atlanta Business Chronicle. June 20, 2001. Retrieved January 8, 2011.
  12. ↑ "Arthur M. Blank Family Foundation announces nearly $5.4 million in funding for COVID-19 relief efforts". www.atlantafalcons.com. Retrieved October 14, 2020.
  13. ↑ Staff, WSBTV com News (March 20, 2020). "Arthur Blank donates $5+ million in funding for coronavirus relief efforts". WSBTV. Retrieved October 14, 2020.
  14. ↑ Walsh, Erin (October 12, 2020). "Falcons owner Arthur Blank donates $200 million to Children's Healthcare of Atlanta hospital". Yardbarker. Retrieved October 12, 2020.
  15. ↑ Staff, WSBTV com News (October 12, 2020). "Children's Healthcare of Atlanta hospital names new facility in honor of Arthur Blank". WSBTV. Retrieved October 12, 2020.
  16. ↑ Reference for Business: "Arthur Blank" retrieved October 18, 2014
  17. ↑ National Parks Conservation Association: "The Visionaries - Diana J. Blank" retrieved October 18, 2014
  18. ↑ Saporta, Maria (September 17, 2015). "A longtime anonymous donor reveals her identity". Atlanta Business Chronicle. Retrieved October 18, 2024.
  19. 1 2 Point's North magazine: "Stephanie Blank" Archived October 18, 2014, at the Wayback Machine May 2010
  20. ↑ Levine, Daniel S. (February 6, 2017). "Arthur Blank's Wives & Family: 5 Fast Facts You Need to Know" . Retrieved May 22, 2020.
  21. 1 2 Saporta Report: "Arthur Blank says purchasing soccer team for Atlanta is ‘close to his heart’" Archived November 12, 2014, at the Wayback Machine April 17, 2014
  22. ↑ Kenly News: "DWIGHT PARRISH" Archived October 23, 2014, at the Wayback Machine July 2014 Obituaries
  23. ↑ Ledbetter, D. Orlando (January 1, 2019). "Arthur Blank, wife Angela are getting a divorce". The Atlanta Journal-Constitution.
  24. ↑ Jewish Voice New York: "Jewish Billionaires Join Group Pledging Majority of Their Wealth to Charity" by Sholom Schreiber April 25, 2005
  25. ↑ The Atlanta Journal-Constitution: "Blank announces he is ‘cancer free’" by D. Orlando Ledbetter March 17, 2016
Business positions
Preceded by CEO of Home Depot
1997–2000		Succeeded by
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