'Socialism,' 'woke people' destroyed American work ethic, says Home Depot co-founder: 'I'm worried about capitalism'

Home Depot co-founder Bernie Marcus, 93, warned that the popularity of "socialism" in the United States had destroyed the nation's work ethic, threatening the future of capitalism, the Financial Times reported Wednesday.

Marcus, who launched Home Depot with co-founder Arthur Blank, told the Financial Times that the home improvement company became a successful empire because of capitalism.

Since its start in 1979, Home Depot has grown to 2,300 stores across North America with an annual revenue of more than $150 billion.

He noted that when he and Blank opened the first two Home Depot stores in Atlanta, Georgia, Americans were incentivized to take the necessary risks to become business owners. But, according to Marcus, entrepreneurs today face more challenges than he and Blank faced in the late 1970s.