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Key Points
- Marvin Ellison's stake in Lowe’s increased by $8.55 million in 16 days, reflecting strong investor confidence in the company’s performance.
- Lowe’s shares have surged over 18% in 2024, boosting its market cap to $145 billion, benefiting shareholders like Ellison.
- Despite a drop in net earnings, Lowe’s stock continues to climb, with shares rising 4.64% since January, under Ellison’s leadership.
Marvin Ellison, the chairman, president, and CEO of Lowe’s Companies, has solidified his place among the wealthiest Black executives in the U.S. After a strong year in 2024, his stake in Lowe’s has gained over $8 million in value in just the past 16 days.
Ellison, who owns a 0.13 percent stake in Lowe’s—around 748,000 shares—has seen the market value of his holdings rise by $8.55 million. This increase highlights strong investor confidence in the retail giant’s financial performance and future prospects.
This latest gain follows a boost in Ellison's stake earlier in 2024, further reinforcing the trust investors place in Lowe’s performance and Ellison’s leadership. The recent rise in Lowe’s share price on the New York Stock Exchange (NYSE) reflects a continued interest from investors.
Lowe's shares surge, market cap expands
Lowe’s Companies Inc., a leading name in the home improvement industry and a Fortune 50 company, employs about 300,000 associates across the U.S. and Canada. As of Nov. 1, 2024, the company operates 1,747 stores, covering 195 million square feet of retail space.
Though its net earnings dropped from $6.7 billion in the first nine months of 2023 to $5.8 billion in the same period of 2024, Lowe’s shares on the NYSE have performed well, rising over 18 percent in 2024 and continuing their upward trend into 2025.
Since the beginning of the year, Lowe’s shares have gained 4.64 percent, climbing from $246.57 on Jan. 7 to $258. This growth has boosted the company’s market cap to over $145 billion, offering substantial returns to shareholders, including CEO Marvin Ellison.
Ellison gains $8.55 million as Lowe’s shares surge
Thanks to this surge, Ellison's stake in Lowe’s has grown by $8.55 million since January 7, increasing from $184.43 million to $192.98 million.
This increase highlights Lowe’s resilience and its capacity to create value for shareholders under Ellison’s leadership, further reinforcing his standing as a key figure in the corporate world.
