Lowe’s Shares Boost Black CEO Marvin Ellison’s Earnings by $6.6 Million

One of America’s top Black CEOs, Marvin Ellison, chairman, president, and CEO of Lowe’s Companies Inc., has made more than $6.6 million from his investment in the company. This is due to the steady increase in Lowe’s stock price on the New York Stock Exchange.

Ellison, who is also acknowledged as one of the highest-ranking Black CEOs on the Fortune 500 list, saw the market value of his Lowe’s share increase by $6.63 million over the last 41 days.

Ellison’s fortune increased by $3.3 million between Jan. 24 and Feb. 14 due to his ownership in Lowe’s.

Lowe’s Companies Inc., a Fortune 50 home improvement behemoth with a wide network of over 2,200 shops and nearly 300,000 workers in the United States and Canada, has thrived under Ellison’s leadership. In 2023, the corporation generated $86.4 billion in revenue and processed over 17 million consumer transactions per week.

Lowe’s shares on the New York Stock Exchange have lately risen 13.08 percent, from $225.51 on February 20 to $255.01 as of the time of writing, bringing the company’s market worth above $145 billion.

With the recent gain in Lowe’s shares, the market value of Ellison’s minority 0.038 percent holding, corresponding to 224,800 shares, has climbed from $50.69 million on February 20 to $57.33 million, representing a $6.63 million increase in the last 41 days.

This $6.63 million increase in Ellison’s Lowe’s stock solidifies his position as one of the wealthiest Black CEOs in the United States and one of the world’s top Black CEOs.

Leave a Reply