"Schar, born in 1942, worked for Ryan Homes as head of the company's Mid-Atlantic homebuilding operations until 1977. In 1980, he launched Northern Virginia Land and Homes Co., which later became NVR Inc. Seven years later, NVR acquired Ryan Homes in a $312 million deal. Schar was CEO of NVR until 2005 and remained as executive chairman of the board until 2022. Under Schar's leadership, the Virginia-based Fortune 500 company grew into the fourth-largest homebuilder by total closings."
"Today, NVR operates under the Ryan Homes, NVHomes and Heartland Homes brands across 14 states and Washington, D.C. The billionaire businessman was also a minority owner of the NFL's Washington Commanders from 2003 to 2021. Schar was also known for his philanthropic endeavors, including a $50 million donation to the Inova Schar Cancer Institute in Virginia, and an additional $75 million gift to Inova's heart and vascular program."
Schar, born in 1942, led Ryan Homes' Mid-Atlantic operations until 1977 and founded Northern Virginia Land and Homes Co. in 1980, which later became NVR Inc. NVR acquired Ryan Homes in 1987 for $312 million. Schar served as NVR CEO until 2005 and as executive chairman through 2022. Under his leadership, the Virginia-based Fortune 500 company expanded into the fourth-largest homebuilder by total closings and now operates the Ryan Homes, NVHomes and Heartland Homes brands across 14 states and Washington, D.C. He held minority ownership of the Washington Commanders from 2003 to 2021 and made major donations to Inova's cancer and heart programs. A formal obituary has not been released.
Read at www.housingwire.com
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