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Home Depot Co-Founder Bets Big on Eli Lilly
22 Sep
Summary
- Langone's Eli Lilly stake may soon top Home Depot holding.
- Eli Lilly stock is predicted to reach $2,000 in three years.
- Home Depot stock has underperformed Eli Lilly recently.
Ken Langone, chairman of Invemed Associates and a Home Depot co-founder, stated on September 22, 2026, that his Eli Lilly (LLY) stock position is challenging his Home Depot (HD) stake for the top spot in his portfolio. Langone forecasts that Eli Lilly's stock could reach $2,000 per share within the next three to four years.
As of September 22, 2026, Eli Lilly traded at $1,153.83, showing a 54.41% increase over the past year, despite a recent monthly dip. Home Depot, conversely, traded at $301.79 and has declined 25.33% over the past year. Langone attributes Eli Lilly's strength to its diversified research, including areas beyond weight-loss drugs, and significant R&D investments, citing a current R&D spend of $17 billion to $18 billion annually.
Langone's history with Eli Lilly began in the late 1970s when he sold a medical device company to the pharmaceutical giant for $50 million in stock. He has witnessed the company's market capitalization grow from approximately $2 billion to over a trillion dollars. Eli Lilly's current guidance projects full-year revenue between $85.0 billion and $87.0 billion, supporting Langone's optimistic outlook.
