Top Black executive Marvin Ellison loses gains $5.7 million from Lowe’s shares

Feyisayo Ajayi -

Key Point

  • Marvin Ellison’s stake in Lowe’s increased by $5.67 million in 21 days due to a recent share price rise.
  • Lowe’s market capitalization surpasses $135 billion as shares surge 11.81% since July 1.
  • Lowe’s year-to-date gain of 9.1% boosts a $100,000 investment to $109,100, yielding a $9,100 profit.

One of America’s top Black CEOs, Marvin Ellison, the chairman, president, and CEO of Lowe’s Companies Inc., has recorded a significant increase in the market value of his stake in the U.S. home improvement giant due to a recent rise in share price.

According to data tracked by Billionaires.Africa, Ellison —  recognized as one of the world’s highest-ranking Black CEOs on the Fortune 500 list — has experienced a $5.67 million surge in the market value of his stake in Lowe’s over the past 21 days.

This follows a setback of $3.78 million between May 17 and 30, when his stake fell from $231.1 million to $214.3 million.

Lowe’s market cap climbs above $135 billion

Lowe’s Companies Inc., a major player in the home improvement sector and a Fortune 50 company, operates over 2,200 stores and employs approximately 300,000 associates across the United States and Canada.

Since July 1, Lowe’s shares listed on the New York Stock Exchange have surged by 11.81 percent, rising from $213.56 to $238.79, pushing its market capitalization above $135 billion.

Marvin Ellison’s stake value increases

As a result of the recent surge in Lowe’s shares, the market value of Ellison’s 0.038% stake — amounting to 224,800 shares — has increased from $48.01 million on July 1 to $53.68 million, marking a $5.67 million increase over the past 21 days.

This rise in Ellison’s stake further solidifies his status as not only one of the world’s highest-ranking Black CEOs but also one of the wealthiest Black CEOs in the United States.

Your Money and Your Life

After recovering from a year-to-date loss of 3.72 percent, Lowe’s has joined the ranks of companies whose shares have delivered impressive returns to investors.

The company’s shares have recorded a 9.1 percent year-to-date gain, meaning a $100,000 investment at the start of the year would now be worth $109,211, reflecting a profit of $9,100.