Marvin Ellison, one of America’s Black executives, loses $21 million from Lowe’s stake

Key Points

• Marvin Ellison’s stake in Lowe’s drops $21.08 million in 45 days, falling below $170 million as stock continues to struggle.
• Lowe’s reported a 3.13% revenue decline for fiscal 2024, with earnings dropping 9.95%, reflecting weak consumer demand.
• Lowe’s stock falls 11.24% in 45 days, dragging market cap under $130 billion and impacting shareholder returns, including Ellison.

Marvin Ellison, CEO of Lowe’s Companies and one of America’s wealthiest Black executives, has seen a significant drop in the market value of his shareholdings in the home improvement giant as the company’s stock continues to struggle on the New York Stock Exchange (NYSE).

Ellison holds a 0.132-percent stake in Lowe’s, equivalent to 748,000 shares, making him one of the top Black executives in corporate America. However, over the past 21 days, the value of his stake has decreased by $21.08 million, bringing his holdings below the $170 million mark.

This latest decline adds to earlier losses between Jan. 27 and Feb. 18, when his stake dropped from $200.78 million to $188.34 million, a $12.44 million decrease during that period.

Weak earnings and consumer pullback fuel market concerns

Lowe’s Companies Inc., a major Fortune 50 company in the home improvement sector, operates over 1,700 stores across the United States and Canada with roughly 300,000 associates. As of Jan. 31, 2025, the company had 1,748 stores encompassing 195 million square feet of retail selling space.

For the 2024 fiscal year, Lowe’s reported a dip in sales as consumers cut back on major home projects due to economic uncertainty. Revenue dropped 3.13 percent to $83.67 billion, while earnings fell by 9.95 percent to $6.96 billion. Diluted earnings per share (EPS) also decreased, from $13.2 to $12.23.

Marvin Ellison’s stake suffers $21 million paper loss

As a result of its lackluster financial performance, Lowe’s shares on the New York Stock Exchange (NYSE) have slumped 11.24 percent, falling from $250.71 to $222.52 per share. This decline has dragged the company’s market capitalization below $130 billion, triggering notable losses for shareholders.

One of those affected is CEO Marvin Ellison. His stake in the company, which represents about 748,000 shares, has seen a decline of $21.08 million in the last 45 days. Ellison’s holdings have dropped from $187.53 million on February 18 to $166.44 million now. Despite this downturn, Ellison remains one of the wealthiest Black executives in the U.S., holding a substantial stake in Lowe’s.

Your money and your life

For investors, Lowe’s stock is down 9.84% year-to-date. A $100,000 investment made at the beginning of 2024 would now be worth about $90,160, reflecting a loss of nearly $10,000.