Donald R. Horton, founder of nation’s largest home builder, has died
Donald R. Horton, who built his first home in 1978 in Fort Worth and grew his company into the nation’s largest homebuilder, died Thursday, Arlington-based D.R. Horton announced Friday. He was 74.
David V. Auld, the company’s executive vice chairman, has been appointed by the board to serve as executive chairman, effective immediately, the company said in a statement.
“It is with great sadness that I announce the passing of my friend and our Company’s iconic founder and Chairman, Don (“DR”) Horton,” Auld said in the statement. “Throughout the Company’s 46-year existence, he worked tirelessly to build a national homebuilding operation with a strong company culture, and the impact of his personal involvement with our team of operators across the United States has contributed immeasurable value to our company and people.”
Over the years, Horton maintained a “decentralized strategy” for operational decisions, allowing local leadership teams to make business decisions including product offerings, price points and home features, according to the company’s statement.
He traveled extensively to visit D.R. Horton’s operations where he made it a point to meet everyone in the sales offices.
Horton founded a summer camp for employees’ children for them to spend time outdoors and he also formed the D.R. Horton Foundation to help employees impacted by natural disasters.
Diane Nix Kessler, president of the Greater Fort Worth Builders Association, recalled meeting Horton in the late 1980s.
“I feel like a piece of my family is gone,” she said.
Nix Kessler said Horton was a true pioneer and “lived” his dream of creating a national homebuilding company.
She described how Horton organized seminars and training opportunities for his employees, which contributed to his success.
Steve Montgomery, president and CEO of the Fort Worth Chamber of Commerce, said the chamber is “deeply saddened” by Horton’s passing.
Montgomery described Horton as a visionary who was instrumental in making Fort Worth a great place to live.
“His contributions to the real estate industry and our community have shaped vibrant neighborhoods and a thriving economy,” Montgomery wrote in an email to the Star-Telegram.
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 1 million homes.
Horton is survived by his wife Marty and their sons, Ryan (Stacy) and Reagan (Michelle), and four grandchildren: Douglas, Madeline, Derek and Shelby. Details on a public memorial will be made available at a later date, the company said.
This story was originally published May 17, 2024 at 11:29 AM.