Living Legends: DWIGHT SCHAR
FOUNDER AND RETIRED CEO AND CHAIR, NVR INC., RESTON
Published
It’s a year of change for Schar.
In May, Schar, 80, retired as chair of NVR Inc., the Fortune 500 homebuilding and mortgage banking business he founded back in 1980 that went on to become one of the nation’s largest home builders. Operating under the Ryan Homes, NVHomes and Heartland Homes brands, NVR reported $1.24 billion in net income last year, with $5.83 billion in assets.
In June, Schar finalized an agreement to buy a major ownership interest in Comstock Holding Cos. Inc., the Reston-based real estate company led by his son-in-law, Chris Clemente. After all transactions are complete, Clemente and Schar will each hold an approximate 31% ownership interest in Comstock. Additionally, Schar owns a substantial portfolio of Orlando, Florida, real estate.
The Inova Schar Cancer Institute is named in honor of Schar, who, with his wife, Martha, donated $50 million to Inova Health Systems in 2015. Schar is also a former Washington Commanders co-owner whose share in the NFL team was bought out last year by Dan Snyder, the team’s majority owner. In court documents, Snyder accused Schar of threatening to leak information that could damage Snyder’s reputation.
