Arthur Blank

Arthur M. Blank (born September 27, 1942, in Sunnyside, New York) is an American businessman and a co-founder of Home Depot. Today he is known for his philanthropy and his ownership of the Atlanta Falcons team in the National Football League and the Georgia Force team in the Arena Football League.

Early life

Arthur Blank was born on September 27, 1942, and grew up in Flushing, New York, with his father, Max, his mother, Molly, and his older brother, Michael. Blank graduated from Stuyvesant High School in New York City [cite web |url=http://www.atlantafalcons.com/People/Staff/Executive/Arthur_Blank.aspx |title=Arthur Blank - Owner and CEO - Biography |accessdate=2007-11-01] and went on to attend Babson College, where he graduated in 3 years in 1963 with a B.S. degree in Business Administration.

Working Life

After graduating from college, Blank was hired by Handy Dan Hardware, and worked his way up through the company to become a regional manager. He was fired in 1978 for a disagreement with executives.

In 1978, Blank co-founded Home Depot with Bernie Marcus, another former Handy Dan manager. New York investment banker Ken Langone assembled the initial group of investors. The store 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 chief financial officer before succeeding Marcus as CEO. Blank retired from the company in 2001 as co-chairman.

ports Ownership

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

Blank has expressed serious interest in purchasing other Atlanta franchises. In early 2006, he temporarily withdrew from contention as a potential buyer of the Major League Baseball team Atlanta Braves. Some months later, Blank re-entered serious talks with Time Warner and a report indicated that a sale was imminent. [http://www.ajc.com/sports/content/sports/braves/stories/0421bravessale.html] However, in February 2007, the Braves completed the sale of the team to Liberty Media. Blank has also spoke of purchasing an expansion franchise in Major League Soccer. Atlanta is currently being considered for MLS expansion.

Current Life

Blank is the Chairman, President, and CEO of AMB Group, LLC, and the Arthur Blank Family Foundation. He is married with 6 children and two grandchildren. As of September 21, 2006, his net worth was estimated at $1.3 billion. Blank was inducted into the Junior Achievement U.S. Business Hall of Fame in 2006. He resides in the Buckhead section of Atlanta. He serves on the Board of Trustees of Emory University.

References

External links

* [http://www.blankfoundation.org/about/bio_arthurblank.html Arthur Blank Bio] at BlankFoundation.org
* [http://www.forbes.com/lists/2006/54/biz_06rich400_Arthur-M-Blank_6Q6S.html #297 Arthur M Blank] at Forbes.com
* [http://www.ey.com/global/content.nsf/US/Media_-_Release_-_11-19-05FDC Ernst & Young Entrepreneur of the Year]
* [http://www.lemonadestories.com/depot.html Lemonade Stories: Art Blank]
* [http://www.georgiaencyclopedia.org/nge/Article.jsp?id=h-1908 Arthur Blank in Atlanta]
* [http://www.sbnonline.com/Local/Article/11389/66/0/The_DIY_quarterback.aspx The DIY Quarterback] Leadership article in Smart Business