Texas exec founded top homebuilder

Donald R. Horton, founder of the Arlington company that leads the nation in homebuilding and bears his name, has died.

Horton, 74, was involved in the real estate and homebuilding industries since 1972. He built his first home in Fort Worth in 1978, kick-starting his housing empire. Company representatives said Horton, who died suddenly Thursday night, was believed to have suffered a heart attack.

Horton has served as chairman of D.R. Horton Inc. since its formation in July 1991, and he held the roles of president and CEO from July 1991 until November 1998. Horton was the founder, sole or principal stockholder, director and president of each of D.R. Horton’s predecessor companies.

Horton is survived by his wife, Marty, and their children Ryan and Reagan, as well as four grandchildren, Douglas, Madeline, Derek and Shelby.

Details on a public memorial event to honor Horton will be made available at a later date, the company said in a news release.

David Auld, the company’s executive vice chairman, has been appointed to serve as executive chairman, effective immediately.

“I am deeply grateful to DR for his friendship, leadership and commitment to making D.R. Horton the leading homebuilder in America,” Auld said in a statement. “DR was truly a pioneer in the homebuilding industry.”

Ted Wilson, principal of Residential Strategies, a market research company focused on Texas’ new home industry, called Horton “a visionary.”

“Some of these homebuilders, historically, were more regional. He was really able to take the D.R. Horton platform to a national level,” Wilson said. “Through the process of these roll-ups, (Horton) turned them into a juggernaut . ... What a great man.”