The couple were married for 16 years. At the time of the original split, a statement issued by Blank’s charity, the Arthur M Blank Family Foundation, insisted the couple would “remain great friends”.
They were, it said, “committed to working together to parent their three wonderful children”.
It added: “This is a sad and difficult time for Arthur, Stephanie and their family.”
Blank, now 70, co-founded Home Depot in Marietta, Georgia, in 1978. after losing his job with the now defunct Daylin Corporation. It is now the largest DIY retailer in the US. Blank is also an active philanthropist. He has donated large sums to charity and has pledged to give away at least 50 per cent of his wealth.
Stephanie is 25 years younger than her former husband.
Photo by Steve Burns via Flickr under a Creative Commons licence