The Florida Home Billionaires Behind Lennar's CalAtlantic DealBy
The Miller family controls 68% of Lennar’s class B shares
Stuart Miller has been CEO since 1997 and votes family stake
Leonard Miller put $10,000 into a homebuilding venture in 1956. That business has been capitalizing on the American construction boom ever since, and now his son is spearheading a $5.7 billion deal to create the U.S. industry leader.
Stuart A. Miller controls more than 22.4 million shares of Lennar Corp. along with his two siblings, giving the heirs a combined net worth of about $1.2 billion, according to the Bloomberg Billionaires Index. Leonard Miller died in 2002. His wife, Susan, died last year.
Miller, Lennar’s chief executive officer, was occupied Monday with a conference call about the acquisition of CalAtlantic Group Inc. and wasn’t immediately available to comment on his family’s wealth, said Rebecca Mueller, a spokeswoman.
Lennar built more than 26,500 homes and had revenue of $10.9 billion in 2016. Investor optimism that those numbers will improve has pushed shares up 35 percent this year.
Stuart A. Miller, 60
* Has been a director of Lennar since 1990 and CEO since 1997.
* Was chairman of the University of Miami board of trustees. The family donated $100 million to the Leonard M. Miller School of Medicine in 2004.
* Has sole voting power of the family’s Class B shares.
* Awarded pay of more than $18 million for each of the past three years, according to the Bloomberg Pay Index. More than half of that has been paid out as a cash bonus tied to pretax income goals.
* Currently has approximately $12.1 million in unvested restricted stock as of Friday’s close.
Leslie Miller Saiontz
* Founded Achieve Miami, an education-focused charity and chairs the board of Teach For America - Miami.
* Graduated from Harvard University in 1981, where she played varsity tennis.
* Founded and ran two retail chains, Running Around Stores and Kidding Around Stores, from 1985 until 2011.
* Managing Partner of Krillion Ventures, a venture capital firm with investments in 20 companies, according to its website.
* Focuses philanthropic efforts on education, including improving public schools and the University of Miami, where he’s a graduate.
* Chairman of Breakthrough Miami, founding chairman of Beacon College Prep and board member at Ransom Everglades School and the Institute of Contemporary Art, Miami.
— With assistance by Alicia Ritcey, Jenn Zhao, Pamela Roux, and Jack Witzig