
Marvin Ellison, one of America’s Black executives, loses $21 million from Lowe’s stake
This decline follows earlier losses from Jan. 27 to Feb. 18, when his stake fell $12.44 million, from $200.78 million to $188.34 million.
This decline follows earlier losses from Jan. 27 to Feb. 18, when his stake fell $12.44 million, from $200.78 million to $188.34 million.
Net total sales totaled $83.67 billion, marking a 3.13% decline, though strong online and pro sales offer optimism amid ongoing challenges.
Over the last 21 days, Ellison’s shares in Lowe’s, amounting to 748,000 shares, declined by more than $12 million.
After a strong year in 2024, his stake in Lowe’s has gained over $8.5 million in value in just the past 16 days.
This boost further solidifies his position among the wealthiest Black CEOs in the U.S. and top-ranking Black executives globally.
Total sales totaled $65.12 billion, marking a 3.92% decline, though strong online and pro sales offer optimism amid ongoing challenges.
Lowe's introduces $2.5 million initiative to expedite recovery for small businesses impacted by Hurricane Helene.
This decline contrasts with a previous gain of $30.1 million between Sept. 6 and Oct. 18.
Marvin Ellison, one of the few Black CEOs on the Fortune 500 list, owns 748,000 shares of Lowe’s.
Despite the decrease, Ellison remains one of the wealthiest Black CEOs in the United States and a prominent figure among global Black CEOs.
Despite the headline figures, Lowe’s reported positive growth in certain segments. The Pro division, catering to professional contractors, maintained steady sales.
This recent upswing comes on the heels of a previous downturn in Ellison’s wealth between April 1 and 19, during which his stake in Lowe’s decreased by $4.61 million.
This recent setback comes on the heels of a previous surge in Ellison’s wealth between Feb. 20 and April 1, when his stake in Lowe’s increased by $6.63 million.