Learn the in-depth biography of American business tycoon and philanthropist Bruce E. Karatz, known for his role as Chairman and CEO of multi-billion company KB Home.
Born in Chicago and Bruce was raised in Minneapolis, Minnesota, to a middle-class Jewish family, Bruce Karatz's father used to run a movie theater, and his mother was a homemaker.
Karatz during his Early years.
Image Source: Pinterest
Bruce completed his high school in 1962 and later graduated his further studies from Boston University in 1967. The multi-talented star later pursued Juris Doctor degree from the University of Southern California in 1970.
Two years after graduation and at early year of his career, he joined 'Kaufman & Broad' as an associate general counsel. After employing a short time as an in-house counsel, Karatz later shifted his career to the home building side of the business and soon became head of KB Home's French division.
As of 2020, Bruce E. Karatz's net worth is estimated at around $227.37 million. Behind such staggering 'Fortune' is credited to his salary from billion worth company KB Home, personal shares and investments.
Living the life of riches.
Image Source: Zimbio
As per sources of LA Times, the money magnet had an estimated earning of $40 million a year between the year of company growth from year 1986 to 2006.
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Business mastermind, Karatz's biggest mark was on the year 1977 when he installed a full-sized model home on the roof of the Au Printemps department store, in which more than 500,000 people toured the rooftop house. Over his time in France, KB Home was known as one of the biggest France's largest homebuilders.
In 1981 Bruce re-joined the Los Angeles headquarters of KB Home and was named CEO. He made the company one of the successful home building companies in the world over time, which helped many middle-class families to customize theirs in a far more efficient way.
Over his tenure as CEO, KB Home named the United States 500 largest company. Karatz made the company increase a 1476% in its market capitalization and an 800% increase in its stock. Similarly, 575% revenue growth and a 400% rise in dividends. Besides, in 2006, KB Home was ranked in the #1 homebuilder in 2006 Fortune Magazine list of American's Most Admired Companies.
Bruce was one of the highest-paid CEOs during the time. He worked there till 2005, and during his time of leave, the company was making around $1.29 billion per year!
And his fortune got more boosted after he invested in a Paris-based real estate company called Nafilyan & Partners after resigning KB.
Yes, Karatz who worked 20-year as chief executive at home-building giant KB home was alleged of manipulating the value of stock options in 2010.
But after long debate and hectic court visits, he finally bailed with $7 million fine and resolved the lawsuit filed by SEC. Prior to all the lawsuits, Brice resigned the office in 2006 due to increasing pressure from investigations into the company's handling of stocks.
The highest paid CEO married three times!
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Only a few might be familiar with the fact that Bruce has been married three times. Here we present you with the details,
Karatz was married to first wife Janet Dreisen from the year 1968 to 2001. Janet was an art consultant and board member of the art and non-profit institutions in Los Angeles. Sadly there are no images of Janet as she is not famous and was
The couple ended their 33 years of relationship but are yet to spill the reason behind it.
Snippet of American personality Sandra Lee and businessman Bruce.
Image Source: Celebuz
After ending his three-decades-long relationship, the millionaire was married to American television chef and author. Unfortunately, their relationship didn't last long and parted their ways shortly after four years.
Lilly and Karatz are enjoying a blissful married life.
Image Source: Alamy
As in now, Karatz is happily married to leading cancer activist and the co-founder of annual Revlon Run/Walk events in New York City, Lilly Tartikoff. Karatz shares three children Elizabeth, Matthew, and Teddy Karatz, and four grandchildren.
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