Black executive Marvin Ellison gains $9.2 million from Lowe’s shares

Key Points

• Marvin Ellison’s stake in Lowe’s surged by $9 million, as his shares climbed to $168.35 million due to a 5.78% rise in stock price. 
• Despite a 3.13% revenue drop, Lowe’s generated $83.67 billion in FY 2024, with net earnings falling 10% to $6.96 billion amid economic pressures.
• Lowe’s shares are down 8.8% year-to-date, reflecting investor caution despite a recent stock rally lifting its market cap to over $125 billion.

Marvin Ellison, one of the most prominent Black CEOs in corporate America and the head of Lowe’s Companies Inc., has added more than $9.2 million to his net worth amid a sharp rebound in the company’s share price on the New York Stock Exchange (NYSE).

Ellison’s Lowe’s stake gains $9 million

As chairman, president, and CEO of Lowe’s, the Fortune 50 home improvement giant, Marvin Ellison owns about 748,000 shares, roughly 0.132 percent of the company. Over the past 17 trading days, the value of his stake climbed from $159.15 million on April 21 to $168.35 million by May 8, helped by a 5.78 percent rise in Lowe’s share price during that time.

It’s a welcome rebound for Ellison after a difficult stretch earlier this year. Between Feb. 18 and Apr. 4, Lowe’s shares slid, and the value of his holdings dropped by $21.08 million, down to $166.44 million. The recent upswing shows investors are feeling more confident about the company’s future, even with broader economic challenges still hanging over the market.

Lowe’s navigates sluggish housing market

Lowe’s Companies Inc., a major player in home improvement and a Fortune 50 company, operates a vast network of over 2,200 stores with around 300,000 associates in the United States and Canada. Under Ellison’s leadership, the company thrived, achieving a revenue of $86.4 billion in 2023 and handling over 17 million customer transactions weekly.

The home improvement giant posted $86.4 billion in revenue in 2023. However, for fiscal 2024, revenue declined 3.13 percent year-over-year to $83.67 billion, as inflation and elevated interest rates pressured consumer spending on big-ticket home improvement projects. Net earnings also dropped nearly 10 percent to $6.96 billion, with EPS falling from $13.20 to $12.23.

Despite the challenging outlook, Lowe’s shares have risen from $212.77 to $225.07, lifting its market capitalization to over $125 billion. Ellison’s stake has directly benefited from the rally, reinforcing his position among America’s wealthiest corporate executives.

Year-to-date performance

Even after the recent rally, Lowe’s shares are still down 8.8% for the year, showing that investors remain cautious. If you had put $100,000 into Lowe’s stock at the start of 2025, it would be worth around $91,200 today, a paper loss of about $8,800.