Marvin Ellison Profits $3.3 Million from Lowe’s Stock Holdings

Marvin Ellison, chairman, president, and CEO of Lowe’s Companies Inc., saw the market value of his investment in the U.S. home improvement giant soar as a result of the recent surge in Lowe’s share price, increasing his fortune and consolidating his standing as one of America’s top leaders.

Ellison, one of the world’s highest-ranking Black CEOs on the Fortune 500 list, has seen the market value of his Lowe’s Companies Inc. investment rise by $3.35 million in the last 21 days.

Lowe’s Companies Inc., a large home improvement retailer and Fortune 50 firm, has a huge network of over 2,200 locations in the United States and Canada, employing around 300,000 people. Under Ellison’s leadership, the company grew, with a revenue of $97.1 billion in 2022 and over 17 million client transactions per week.

Since January 24, Lowe’s shares on the New York Stock Exchange have increased by 7.07 percent, from $210.55 to $225.43 as of this update. This increase has lifted the market capitalization above the $130 billion threshold.

Ellison’s 0.038-percent position in Lowe’s has climbed from $47.33 million on Jan. 24 to $50.68 million, representing a $3.35 million increase in the preceding 21 days.

The latest $3.35-million increase in Ellison’s ownership in Lowe’s strengthens his status as one of the wealthiest Black CEOs in the United States and one of the world’s highest-ranking Black executives.

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