How Arthur built the fortune
Arthur Blank's fortune began with being fired. In 1978 he and Bernie Marcus lost their jobs as executives at Handy Dan Home Improvement Centers, a California chain, after a corporate dispute. Rather than look for new positions, the two men decided to build the kind of store they had been arguing for: a huge warehouse stocked with tens of thousands of products, priced low and staffed by knowledgeable employees who could help customers with home projects.
With financing arranged by the investment banker Ken Langone, they opened the first two Home Depot stores in Atlanta in 1979. The concept caught on with both do it yourself homeowners and professional contractors. The company went public in 1981 and expanded rapidly across the United States, later into Canada and Mexico, becoming the largest home improvement retailer in the world.
Blank served as president and chief operating officer for many years and then as chief executive from 1997 to 2000. His holdings of Home Depot stock, built up from the founding and through decades of growth, are the source of most of his wealth. He has sold much of that stake over time and reinvested in sports, real estate and other ventures. After leaving the chief executive role, he stepped back from management at Home Depot and turned to building his own group of businesses.
Companies and holdings
Blank's businesses are grouped under AMB Sports and Entertainment and related entities, including:
- The Atlanta Falcons of the National Football League, bought in 2002.
- Atlanta United, the Major League Soccer team he launched, which began play in 2017.
- Mercedes-Benz Stadium in Atlanta, which opened in 2017 and hosts both teams.
- PGA Tour Superstore, a golf retail chain.
- Mountain Sky Guest Ranch and other hospitality properties in Montana.
The sports and hospitality businesses share a management company and a common approach to service, which Blank has tried to carry over from his years in retailing.
Early life and career
Arthur Blank was born in September 1942 in the Sunnyside neighborhood of Queens, New York. His father, a pharmacist, died when Arthur was 15, and his mother took over the family's small mail order pharmacy business, which she grew into a profitable company. Blank later credited her example with shaping his views on running a business.
He earned a degree in accounting from Babson College in 1963 and began his career at the accounting firm Arthur Young. He then joined his family's pharmacy business, which was acquired by Daylin, a conglomerate that also owned Handy Dan. That connection brought him into home improvement retailing, where he met Bernie Marcus and rose to become chief financial officer and later a senior executive before their dismissal in 1978. Those years taught him the economics of store operations, inventory and merchandising, the skills he would bring to the new company.
Philanthropy and public life
Blank is one of the most active philanthropists in Georgia. The Arthur M. Blank Family Foundation, established in 1995, has given to youth development, the outdoors, the arts and community projects in Atlanta and Montana. In 2012 he signed the Giving Pledge. A major gift to Children's Healthcare of Atlanta led to the Arthur M. Blank Hospital, which opened in 2024.
The foundation has invested heavily in the Westside neighborhoods near Mercedes-Benz Stadium, supporting job training, housing and parks in an area that has struggled with poverty. Blank has also promoted community service programs through his sports teams and has written a book about the values he applied at Home Depot and in his later businesses.
He is known for an emphasis on corporate culture and fan experience. At Mercedes-Benz Stadium the teams introduced low concession prices, a policy often cited as an example of putting fans ahead of short term revenue. The stadium has hosted a Super Bowl, college football championship games and matches of the 2026 FIFA World Cup.
Blank remains closely involved in his businesses, frequently appearing at games and community events. His career offers a clear arc from corporate manager to retail founder to sports owner and philanthropist, with Atlanta as the constant setting for much of his work.