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Dwight Schar

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Dwight C. Schar
Born1942 (age 81–82)
Ohio
Alma materAshland University
Occupation(s)Home builder and investor
WebsiteNVR

Dwight Schar is an American businessman. He is the founder of NVR, Inc., a Fortune 500 company that is the third-largest home builder (by revenue) in the United States.[1] He currently serves as the company's Executive chairman and Chairman of Executive Committee.[2] Schar is also a part-owner of the Washington Football Team,[3][4] and the former Finance chairman for the Republican National Committee.[2] He lives in McLean, Virginia and Palm Beach, Florida.

Background

Dwight Schar grew up in rural northeast Ohio and graduated from Norwayne High School in 1960. He then attended Ashland University (then Ashland College) in Ashland, Ohio, where he majored in education. After graduating from Ashland in 1964, Dwight began teaching, and on the weekends, he had a job selling homes.[5] Schar soon left teaching to pursue a career in home building.[6] In 1980, Schar founded his own company, NVHomes,[7] which eventually acquired his former employer, Ryan Homes, in 1987; the company was thus renamed NVR.[2] NVR lost billions of dollars and was forced to declare Chapter 11 bankruptcy in 1992.[8]

Political involvement

Along with his involvement in the Republican National Committee, Schar is also a well-known financial supporter of the Republican Party and numerous Republican candidates, making contributions through his company[9] as well as private contributions from both his McLean, VA home[10] and his home in Palm Beach, FL.[11] In 1989, Virginia Republican gubernatorial candidate Marshall Coleman was backed financially by Schar.[12] An investigation from the Richmond Times-Dispatch had discovered that one of Schar’s companies had issued loans through the Virginia Housing Development Authority.[13]

In both the 2000 and 2004 Bush-Cheney presidential campaigns, Schar was not only a donor, but also a major fundraiser. In the 2000 campaign, Schar was a Bush "pioneer", the distinction given to those committed to raising $100,000 or more for the campaign. In the 2004 re-election campaign, Schar rose to the new level of "Ranger," raising $200,000 or more.[14][15]

Washington Football Team

Dwight Schar purchased a minority share, along with Robert Rothman and Frederick W. Smith, of the Washington Football Team, then known as the Washington Redskins. The three own 40 percent of the team. News outlets have speculated about the friction between the three and Dan Snyder, who owns the rest of the business.[16][17]

Congressional Letter and Investigation

Ryan Homes, a business under the NVR umbrella, received a from Senator Sherrod Brown (D-OH) which asked the company to stop the practice of forced arbitration. Three senators joined in and asked that both Ryan Homes and NVR "remove the arbitration provisions from their agreements and stop requiring homebuyers to sign non-disclosure agreements in order to resolve disputes."[18][19] USA Today conducted an investigation that found that Ryan Homes "ignored warranty requests for dozens if not hundreds of customers nationally."[20]

Class Action Lawsuit

A lawsuit filed by homeowners in Bella Collina, a community run by DCS Capital Investments, accused Paul Simonson, Randall Greene, and Richard Arrighi of "racketeering, embezzling and conspiracy." The lawsuit stated that the Homeowner's Association (HOA) should have been turned over to the homeowners, instead of DCS Capital Investments; it was dismissed by a federal court a year later. [21]

Philanthropy

In 2006, he donated $5 million to his alma mater, Ashland University, to help fund the construction of their new education building. The university named the new building "Dwight Schar College of Education" in his honor.[22]


References

  1. ^ Executives Cashing In Shares At NVR – washingtonpost.com
  2. ^ a b c Dwight Schar: Executive Profile & Biography – BusinessWeek
  3. ^ "Archived copy" (PDF). Archived from the original (PDF) on July 9, 2007. Retrieved April 25, 2008.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ^ Options Earn $59.4 Million for Schar – washingtonpost.com
  5. ^ Dwight Schar (with Martha)
  6. ^ "Building a fortune anew – US News and World Report". Archived from the original on October 10, 2012. Retrieved August 26, 2017.
  7. ^ NVR Inc
  8. ^ Salmon, Jacqueline (April 6, 1992). "HOME BUILDER NVR TO SEEK PROTECTION FROM CREDITORS". Washington Post. Retrieved December 13, 2020.
  9. ^ NVR, Inc
  10. ^ NEWSMEAT ▷ Dwight Schar's federal campaign contribution search results Archived June 22, 2011, at the Wayback Machine
  11. ^ NEWSMEAT ▷ Dwight Schar's federal campaign contribution search results Archived June 22, 2011, at the Wayback Machine
  12. ^ Baker, Donald (September 10, 1989). "AS MAJOR DONOR, MCLEAN DEVELOPER BUILDS HOPES ON COLEMAN". Washington Post.
  13. ^ Kollatz, Harry (November 1, 2019). "Election Night Nail-biter". Richmond Magazine. Retrieved December 13, 2020.
  14. ^ OpenSecrets Archived November 4, 2007, at the Wayback Machine
  15. ^ village voice > news > The Bush-Cheney Gazillions Tour by Ward Harkavy Archived August 9, 2007, at the Wayback Machine
  16. ^ Florio, Mike (October 14, 2020). "New lawsuit underscores Daniel Snyder, Dwight Schar friction". Yahoo Sports. Retrieved December 13, 2020.
  17. ^ Russell, Chris (August 11, 2020). "Are Dan Snyder & Dwight Schar Engaging in a War?". SI.com. Retrieved December 13, 2020.
  18. ^ "Senator Is Urging Ryan Homes to Remove Forced Arbitration from Agreements and Stop Requiring Homebuyers to Sign Non-Disclosure Agreements In Order To Resolve Disputes". Sherrod Brown. Retrieved December 13, 2020.
  19. ^ Pagonakis, Joe (November 21, 2019). "Senator Brown asks Ryan Homes to change business practices". ABC News 5 Cleveland. Retrieved December 13, 2020.
  20. ^ "Dream home nightmares: Ryan Homes buyers face delays, hassles as repairs lag". Cincinatti.com. Retrieved December 13, 2020.
  21. ^ "Bella Collina property owners, in lawsuit, allege racketeering". Orlando Sentinel. March 13, 2017.
  22. ^ "Ashland University Board Approves College of Nursing Construction Plans; New Facility to Hold Nursing Classes in 2012". Globe News Wire. February 7, 2011. Retrieved December 13, 2020.
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