Dwight Schar

Dwight Schar is a real estate entrepreneur worth an estimated $2.5 billion and a highly active philanthropist. The business he formed in 1980, Northern Virginia Land and Homes Co., debuted on the public trading floor in 1986 as NVHomes and, in 1987, took over Mr. Schar’s former employer and competitor Ryan Homes. This deal was valued at around $312 million and resulted in the formation of the largest homebuilding company in the United States at the time.

The real estate downturn of the early 1990s halted the previous period of growth in its tracks, causing problems for Mr. Schar’s business, which was forced to seek Chapter 11 bankruptcy protection in the spring of 1992. By 1993, however, NVR had emerged from bankruptcy protection following a reorganization. Dwight Schar continued to lead the business until 2005, after which point he handed over the title of CEO to longtime employee Paul Saville while staying on in the role of executive chairman of the board. He remained in this role until he turned 80 years old in 2022, when he retired.

Alongside his wife Martha, Dwight Schar donated $50 million to the Inova multidisciplinary cancer and research center in Falls Church, Virginia, in 2015 and made a further donation of $75 million in the spring of 2023 to help fund the institute’s heart and vascular program. Mr. Schar has also made substantial donations to Norwayne High School, Ashland University, Elon University, George Mason University, the Rosarian Academy, and more.

Dwight Schar has five children, including Elon University and University of Central Florida graduate Spencer Schar.