Donald R. Horton, the namesake founder of the nation’s largest homebuilder, has died at 74, the company announced.
Here’s a brief summary of his life and achievements:
Name: Donald R. Horton
Role: Founder of D.R. Horton, one of the nation’s largest homebuilders
Legacy:
- Founded D.R. Horton in 1978.
- Served as the chairman of the board since the company’s inception in July 1991.
- Held the position of President and CEO from July 1991 until November 1998.
- Worked tirelessly to build a national homebuilding operation with a strong company culture.
- His personal involvement with the team of operators across the United States contributed immeasurable value to the company and its people.
David V. Auld, the company’s executive vice chairman, has been appointed by the board as executive chairman, effective immediately.
“D.R. was truly a pioneer in the homebuilding industry,” Auld said. “From the first house he built in 1978 in Fort Worth, Texas, he led the business to unprecedented growth regionally and then nationally.”
Horton began making his mark in the industry in 1972 and was the sole executive leader in each of D.R. Horton’s predecessor companies from 1978 to 1990. He founded the company, now based in Arlington, in 1991, serving as president and CEO until 1998. Horton was known for his decentralized leadership approach, enabling mid- and lower-level management to make key decisions. While considered unorthodox at the time, this strategy has been instrumental in D.R. Horton’s success, the company said.
“Throughout the company’s 46-year history, he worked tirelessly to build a national homebuilding operation with a strong company culture,” Auld said. “His personal involvement with our team of operators across the United States added immense value to our company and people.”
The company said his death was sudden.
D.R. Horton ranks among the largest builders in the United States, closing on 87,801 single-family homes for the 12 months that ended March 31. Its fiscal 2023 revenue of almost $35.5 billion ranked fifth among all public companies in the Dallas-Fort Worth metro area. It also has more than 13,000 employees.
D.R. Horton continues to be a significant presence in homebuilding in DFW and is engaged in numerous communities across the area. Its mortgage division, DHI, stands as the second-largest home mortgage lender in the Metroplex. Under Horton’s leadership, the company has “had the privilege of assisting over one million American individuals and families in achieving homeownership,” Auld stated.
“It is with great sadness that I announce the passing of my friend and our company’s iconic founder and chairman, Don (‘D.R.’) Horton,” Auld said. “Throughout its 46-year existence, he worked tirelessly to develop a national homebuilding operation with a strong company culture. His personal involvement with our team of operators across the United States has contributed immeasurable value to our company and people.”
Horton got his start in the homebuilding industry in 1972 and built his first house in 1978 in Fort Worth. He formed D.R. Horton Inc. in 1991 and took the company public in 1992, growing it from a regional company into the nation’s largest homebuilder by 2002, with operations in 33 states. The company has closed more than one million homes.
Horton is survived by his wife Marty, their children Ryan (Stacy) and Reagan (Michelle), and four grandchildren: Douglas, Madeline, Derek, and Shelby. Details on a public memorial will be made available later.
