Few people can change an industry the way Bruce Karatz has. While you may not know him yourself, you can't deny the impact he's had, after you read this. First you have to start at KB Home. Where his innovations really took hold, and turned an already successful building company, into a massive juggernaut.
Back when he started, KB Home was nothing more than a building company. Usually building challenging or lavish homes. But they didn't always sell. The company was successful, but not as successful as they could have been. Until Bruce Karatz stepped in, they weren't that different from any other construction company.
Instead, it was when Mr. Karatz compensation in 2006 made the company into custom home builders that things really changed. This opened the door to new opportunities. Plus it made sure every home that was built was already paid for. Something the company hadn't yet accounted for.
To know the full impact of Bruce Karatz as CEO, you just have to look at the financial returns. When he took over, the company was making a profit of $491 million. But when his time as CEO had ended 20 years later, then were into the tens of billions.
The brilliance of this concept is in it's execution. When you are building a custom home, everything has already been paid for. Meaning costs are covered, and you're already prepared to profit before the project has begun.
This opened KB Home up to a whole new market of home buyers. People who wanted to build a dream home, but that weren't necessarily millionaires. By allowing them to build homes too, KB became more successful than ever.
This is a big reason why Bruce Karatz made it a point to ensure everything was American made. All of the materials as well as appliances come from this country. So every home built by KB is supporting the economy.
Well Bruce picked charitable work. He's worked with literally hundreds of charities. Everything from raising money for those in need, to helping build homes after crises like Hurricane Katrina.
Back when he started, KB Home was nothing more than a building company. Usually building challenging or lavish homes. But they didn't always sell. The company was successful, but not as successful as they could have been. Until Bruce Karatz stepped in, they weren't that different from any other construction company.
Instead, it was when Mr. Karatz compensation in 2006 made the company into custom home builders that things really changed. This opened the door to new opportunities. Plus it made sure every home that was built was already paid for. Something the company hadn't yet accounted for.
To know the full impact of Bruce Karatz as CEO, you just have to look at the financial returns. When he took over, the company was making a profit of $491 million. But when his time as CEO had ended 20 years later, then were into the tens of billions.
The brilliance of this concept is in it's execution. When you are building a custom home, everything has already been paid for. Meaning costs are covered, and you're already prepared to profit before the project has begun.
This opened KB Home up to a whole new market of home buyers. People who wanted to build a dream home, but that weren't necessarily millionaires. By allowing them to build homes too, KB became more successful than ever.
This is a big reason why Bruce Karatz made it a point to ensure everything was American made. All of the materials as well as appliances come from this country. So every home built by KB is supporting the economy.
Well Bruce picked charitable work. He's worked with literally hundreds of charities. Everything from raising money for those in need, to helping build homes after crises like Hurricane Katrina.
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