About Dwight Schar
Billionaire and philanthropist Dwight Schar worked for Ryan Homes, operating the company’s Mid-Atlantic homebuilding operations, until 1977. Ready to step out on his own, he left Ryan Homes, and, due to contractual obligations, left the homebuilding industry for a couple of years. In 1980, he launched Northern Virginia Land and Homes Co., which was the earliest iteration of the modern-day company NVR. Under Mr. Schar’s leadership, the company grew quickly during its first decade, and a mortgage service was added in 1984. NVR debuted on the trading floor in 1986. In 1987, NVR took over Ryan Homes in a deal valued at $312 million, thereby forming the largest homebuilding business in the United States at the time.
NVR Inc
Dwight Schar remained at the helm of NVR until 2005 but stayed on as executive chairman of the board, a role he had held since 1993. In 2022, at the age of 80, he retired from this position. Today, NVR’s corporate umbrella includes the brands NVHomes, NVR Mortgage, Ryan Homes, Heartland Homes, Rymark Homes, and Fox Ridge Homes. As of November 24, 2023, the company boasted a market capitalization of $19.69 billion and a closing stock price of $6,195.06 per share. According to Forbes, this made NVR’s stock the second most expensive in the country at the time, behind only Warren Buffet’s Berkshire Hathaway Inc.
Philanthropic Endeavours
Dwight Schar’s philanthropic endeavors have been extensive. He played a critical role in securing the building that now houses the Inova multidisciplinary cancer and research center, which Inova acquired from previous owner ExxonMobil. Along with his wife Martha, Mr. Schar made a gift of $50 million to the institution in 2015 to kickstart its operations, and in 2023 made a further donation of $75 million to support Inova’s heart and vascular program. The latter represents the largest single donation the non-profit has received to date.
123 Club
As a former member of the 123 Club (a group founded by the late George Johnson, the former president of George Mason University) Dwight Schar was one of a group of leaders that drove positive change throughout Fairfax County. In addition to encouraging hundreds of defense contractors, technology firms and supporting companies to plant stakes in the county, Mr. Schar and the 123 Club members were instrumental in expanding access to higher education for residents throughout Northern Virginia.
Personal Life & Interests
Dwight Schar has five children, one of whom is Spencer Schar, a graduate of Elon University – an institution to which Dwight Schar has also made substantial financial donations, aligning with his long-term interest in supporting institutions of higher education.
