It was quite a birthday celebratory week for Arthur Blank, who turned 82 on Sept. 27.
It started Sept. 22 when Blank, the owner of the Atlanta Falcons, was inducted into the team’s Ring of Honor during the Sunday Night Football game against the Kansas City Chiefs.
On his actual birthday, Blank was able to cut the ribbon for the new Arthur M. Blank Hospital of Children’s Healthcare of Atlanta. Blank had donated $200 million to help build the new hospital at Children’s campus on North Druid Hills Road.
Blank described the day as the “most beautiful birthday that I have ever had in my life.”
On Sunday, the Children’s Healthcare of Atlanta successfully transferred 202 patients from the Egleston Hospital on Clifton Road to the new Arthur M. Blank Hospital during “Move Day,” using 65 ambulances and about 1,000 support staff volunteers who helped with patient family needs.
While the move was underway, the Atlanta Falcons eked out a win over the New Orleans Saints in an exciting 26-to-24 victory — a delightful cherry on top of Arthur Blank’s birthday week celebration.
As someone who has covered Blank for about 35 years – through the various twists and turns of his personal, philanthropic and business career — it is crystal clear he is at a wonderful moment in his incredible life.
“I think Arthur is at a very special time in his life,” said Brett Jewkes, executive vice president who is the chief brand and communications officer for Blank’s family of businesses as well as AMB Sports & Entertainment. “We would all be blessed to be in Arthur’s position right now. He’s in a great spot. He thrives on business success. He thrives on giving back.”
Jewkes added that Blank would be the first to say there’s a lot of work left todo, which is what makes it fun to be along for the ride.
“He’ll never stop trying to make a difference,” Jewkes said. “He takes great satisfaction in seeing his family’s giving make a positive impact on people and place. All that is happening at great scale right now.”
Blank bought the Atlanta Falcons in 2002 for $545 million. Today, the team is estimated to be worth nearly 10 times that amount. Blank owns about 70 percent of the team with another 11 minority investors owning about 30 percent.
But it’s not just the Falcons that have enjoyed business success. Blank was able to launch Major League Soccer’s Atlanta United team for a $75 million investment. Now, it’s estimated the team could be worth about $1 billion.
Blank also is a key owner of the PGA Tour Superstores, a business that was virtually bankrupt when he bought the brand in 2010. Today, the PGA Tour Superstores has annual revenues of more than $900 million. Blank also owns four ranches in Montana.
Then there’s the Arthur M. Blank Family Foundation, which is truly a family enterprise. His oldest son, Kenny Blank, and his oldest daughter, Dena Blank Kimball, are on the board along with their spouses and Fay Twersky, the foundation’s president and CEO. Blank has made extensive efforts to ensure that his philanthropic endeavors are carried on to the next generation.
During the Children’s birthday celebration on Sept. 27, Blank said, “95 percent to 98 percent of his estate will be recycled into the foundation” and his family’s philanthropic initiatives.
Blank also appears to be putting the pieces in place to secure the future of his other business interests. In mid-August, his second-oldest son Josh Blank, joined Arthur M. Blank Sports & Entertainment (AMBSE) as vice president of executive strategy. He returned to Atlanta after spending four years working at the National Football League office in New York. It was Josh Blank who urged his father to start an MLS franchise in Atlanta.
While it’s premature to declare Josh Blank as the heir apparent of the sports and entertainment businesses, it is clear Arthur Blank is giving his children an opportunity to play important roles in his business and philanthropic endeavors.
“Arthur is one of the most careful succession planners in the world,” Jewkes observed. “He doesn’t leave anything to chance with his businesses or philanthropy. These are his passions. He’s very careful, and he spends a lot of time making sure the foundation and the businesses are secure and prepared for the future. He has an incredibly high level of concern about the wellbeing of his family, our associates, and the communities in Atlanta and Montana.”
Blank, a co-founder of the Home Depot along with his partner Bernie Marcus, have made significant contributions to philanthropy in Atlanta, Georgia and beyond. Blank has been contributing millions to improve the neighborhoods west of the Mercedes-Benz Stadium while Marcus was the lead benefactor behind the Georgia Aquarium.
Both Blank and Marcus have been especially generous in shoring up Atlanta’s health institutions.
“The Atlanta healthcare community has been blessed by the philanthropic endeavors of the Home Depot co-founders,” said Jim Forbes, chief strategy officer at Vizzia Technologies, an Atlanta healthcare technology company. “Arthur Blank and Bernie Marcus epitomize ‘the Atlanta way’ with their extraordinary generosity of donating nearly a half billion dollars to the preeminent healthcare providers of Children’s Healthcare of Atlanta, Grady Health System, Piedmont Healthcare, and the Shepherd Center. Their philanthropy serves as an inspiration for the next wave of business innovators that Atlanta’s robust ecosystem is producing.”
Much of their giving is due to the appreciation of Home Depot stock. It was worth less than $10 a share in 1997, and today that has jumped up to nearly $400 a share. That appreciation keeps fueling the co-founders’ philanthropic efforts.
It is not yet known the plan for transferring the ownership of the Atlanta Falcons to the family.
The NFL has strict guidelines on transfer of team ownership, even though the rules have evolved since Blank bought the team in 2002. At the time, the family of the late Rankin Smith had to sell the team in order to be able to pay estate taxes and share the proceeds of the team’s value.
A possible scenario could be transferring the assets of the Falcons into a family-controlled trust, which is what happened with the Denver Broncos when owner Pat Bowlen stepped away from the team’s day-to-day operations. The Broncos eventually were sold in 2022 to the Walton-Penner group — headed by Walmart heir Rob Walton, his daughter Carrie Walton Penner and her husband Greg Penner and other partners.
All Jewkes would say about the future ownership of the Falcons was this: “Arthur’s intent is for the team to stay in the family’s hands for years and years.”
All of Blank’s business interests are doing well, reinforcing his entrepreneurial “Midas Touch.” So, at 82, Blank has accomplished a great deal, but he shows no signs of slowing down.
As Jewkes said in an interview: “I think Arthur would say his family is just getting started with their philanthropy.”
Blank does great work. But it doesn’t sit well Jewkes and co. chose to orchestrate his induction into the team’s ring of honor halftime of a Sunday night national broadcast against the reigning Super Bowl champs, relegating the induction of arguably the team’s greatest quarterback to this week’s woebegone Thursday broadcast.
Scott — You may not be aware … Matt is on CBS Studio team in New York each and every week, making a Sunday impossible for him and his entire family to enjoy this deserved recognition in Atlanta. The opportunity for Matt to be in the stadium was only possible on a non-Sunday. So, Thursday night, against a division rival, on a platform that is doing just fine in terms of viewership it is. Will be a great night — hope you can join.