Top Black executive Marvin Ellison gains $4 million from Lowe’s shares

Omokolade Ajayi -

Key Points

  • Marvin Ellison’s stake in Lowe’s has gained $4.02 million in 17 days, with his total holding rising to $55.96 million.
  • Lowe’s shares have surged 7.73% recently, pushing its market cap near $140 billion and delivering significant returns to investors.
  • Year-to-date, Lowe’s stock has appreciated by 11.86%, reflecting strong performance and returns.

Marvin Ellison, chairman, president, and CEO of Lowe’s Companies Inc., has solidified his position as one of America’s top Black CEOs with a notable increase in his stake’s market value in the home improvement giant. This boost comes as Lowe’s shares continue their upward trajectory on the New York Stock Exchange (NYSE).

According to data tracked by Billionaires.Africa, Ellison, who is recognized as one of the highest-ranking Black CEOs on the Fortune 500 list, has seen a $4.02 million gain from his Lowe’s stake over the past 17 days. This gain follows a prior increase of $5.67 million between July 1 and July 23, highlighting a strong upward trend in investor sentiment.

Lowe’s market cap approaches $140 billion

Lowe’s Companies Inc., a prominent player in the home improvement sector, operates over 2,200 stores and employs approximately 300,000 associates in the U.S. and Canada. The company has recently committed to investing $8 million to expand skilled trades training programs across the United States, emphasizing its dedication to workforce development.

Lowe’s shares have surged 7.73 percent over the past 17 days, climbing from $231.07 on August 12 to $248.94. This increase has pushed Lowe’s market capitalization close to $140 billion, delivering substantial returns to shareholders, including Ellison.

Marvin Ellison’s stake rises by $4 million

Marvin Ellison’s 0.038-percent stake in Lowe’s, equivalent to 224,800 shares, has seen its market value rise from $51.94 million on August 12 to $55.96 million. This represents a $4.02 million increase in just 17 days.

Your Money and Your Life

Lowe’s stock has appreciated by 11.86 percent year-to-date, turning a $100,000 investment at the start of the year into $111,860, reflecting a profit of $11,860. This highlights Lowe’s ability to deliver strong returns amidst a competitive retail landscape, further solidifying Ellison’s position among the wealthiest Black CEOs in the U.S. and globally.