Marvin Ellison’s Lowe’s Stock Drops, Costing Him $4.6 Million

Marvin Ellison, chairman, president, and CEO of Lowe’s Companies Inc., is one of America’s top Black CEOs. The market value of his interests in the US home improvement company has recently declined significantly.

Ellison, regarded as one of the world’s wealthiest Black CEOs, has had his stock in Lowe’s Companies Inc. fall by $4.61 million in the last 18 days, following the company’s recent share slump on the New York Stock Exchange (NYSE).

From Feb. 20 to April 1, Ellison’s investment in Lowe’s climbed by $6.63 million, from $50.69 million to $57.33 million.

Lowe’s Companies Inc., a Fortune 50 home improvement company with more than 2,200 locations and 300,000 employees in North America, has thrived under CEO Marvin Ellison’s leadership. In 2023, the corporation produced $86.4 billion in revenue and processed over 17 million consumer transactions per week.

Lowe’s stock has lately dropped 8.22 percent, from $249.28 on April 1 to $228.79 at press time. This fall increased Lowe’s market capitalization to almost $140 billion.

The recent share price decrease has reduced the market value of Ellison’s 0.038 percent holding in Lowe’s, which equates to 224,800 shares. Over the last 18 days, his shareholding has fallen by $4.61 million, from $56.04 million on April 1 to $51.43 million.

Despite this decline, Ellison remains one of the richest Black CEOs in the United States and a prominent position among worldwide Black CEOs.

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