Dwight Schar, the founder and former executive chairman and CEO of NVR Inc., has died, according to posts on LinkedIn.
James Honeycutt, managing partner at Credo Construction, discussed Schar’s legacy in a post on Thursday afternoon.
“Mr. Schar wasn’t flashy or dismissive — just calm, kind, and very clear on what mattered most. He chuckled (everyone in sales knows what that means) and took us back to fundamentals,” Honeycutt said.
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.
A formal obituary has not been released.
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