Who owns kb homes

He built KB Home and SunAmerica into billion-dollar companies, establishing himself among the ranks of the world's richest people. Broad told CNBC he never accepted conventional wisdom in anything he did, "whether it was in home building [or] whether it was taking a life insurance company and making it a retirement-savings company.

Broad was raised in Detroit and started his career as an accountant. They built it into what's today known as KB Home. The company went public in on the American Stock Exchange and then in became the first in its industry to list on the New York Stock Exchange.

Since the beginning, Broad wasn't afraid to challenge the status quo. While many homebuilders at the time were focusing on basements, Broad went the other way and started constructing houses without them — and then selling them for 20 percent less than his competitors.

Broad realized that basements were no longer essential because gas heating was becoming more common in homes, eliminating the need for basements to store coal. His company also was one of the first in the industry in to offer a five-year limited home warranty.

The homebuilder would later expand outside Detroit, mass producing single-family homes from coast to coast in its own developments and building housing for the military. He started expanding into residential homebuilding around the time that baby boomers were looking to settle down, start families and buy their first houses.

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