Bruce Karatz
Bruce Karatz
Bruce Karatz is an American homebuilder and philanthropist noted for his role as CEO in the development of KB Home from 1972 through 2006, and for his philanthropic efforts to help re-build Los Angeles after the L.A. Riots and New Orleans following Hurricane Katrina. On April 21, 2010, Karatz was found guilty of two counts of mail fraud and two counts of making a false statement. He was acquitted of 16 others charges, including securities fraud and filing false proxy statements.
Bruce Karatz's personal information overview.
Photo Albums
Popular photos of Bruce Karatz
View family, career and love interests for Bruce Karatz
Show More Show Less
News abour Bruce Karatz from around the web
Eli Broad: A Most Unreasonable Man
Inc. Magazine - about 4 years
The business titan behind KB Home and Sun America--also an author, philanthropist and art collector--on the trait that brought him success. Hint: It's not complacency. Slightly built, bespectacled, mild mannered, and dressed as if he were attending a CPA seminar, Eli Broad comes off as anything but the legendary entrepreneur who started homebuilding giant Kaufman and Broad (later renamed KB Home) and the pioneering financial services company SunAmerica. The Los Angeles billionaire is also one of the nation's leading philanthropists and art collectors. In his recent book, The Art of Being Unreasonable: Lessons in Unconventional Thinking, Broad, who turns 80 in June, says much of his success, in business and elsewhere, stems from a dogged (some would say obstinate) unwillingness to go along with the crowd. --As told to Mark Lacter Growing up in Detroit in the 1940s, I was always inquisitive. In high school, I would drive my teachers batty. They would make a statement, and I would say, ...
Article Link:
Inc. Magazine article
Federal Judge, ‘Like So Many Others,’ Files for Bankruptcy
The Wall Street Journal- Law Blo - almost 5 years
iStock Chief Justice John Roberts Jr., on more than one occasion, has urged Congress to pay federal judges more, pointing out that the robed ones have seen their salaries plummet over the years relative to those of other U.S. workers. Federal district judges make about $174,000 a year — just a shade more than the going rate for first-year associates at top law firms. Judge Otis Wright II of California’s Central District, for one, could use a raise. Wright, a George W. Bush appointee who was confirmed in 2007, has filed for personal bankruptcy, a rare thing for a federal judge. A trustee plans to put Wright’s house in Rancho Palos Verdes in Los Angeles County on the market, in a bid to generate funds for creditors, according to documents filed recently in Central California bankruptcy court, which sits about a half mile away from Wright’s courthouse. The asking price: about $1.2 million. Judge Wright listed assets of $833,426 and liabilities of $895,292 at the time of hi ...
Article Link:
The Wall Street Journal- Law Blo article
A Shortage of Local, Professional, Accountability Reporting - Santa Barbara View
Google News - over 5 years
Bruce Karatz, the KING of White Collar Criminals, what a mentor to these Gang Members to learn from at Homeboy Industries, God Bless Him. How many of the lads has Bruce brought over to the mansion for a Barbecue, and a new tat for Karatz?
Article Link:
Google News article
Homeboy Industries expands with diner at City Hall - Los Angeles Times
Google News - over 5 years
Bruce Karatz, the former chief executive of KB Home, is a multimillionaire who lives in Bel-Air. About a month earlier, he had been convicted of felony charges related to the manipulation of executive stock options. Karatz said he was drawn to Homeboy
Article Link:
Google News article
Lindsay Lohan Faces House Arrest; How Bad Can It Be? - ABC News
Google News - almost 6 years
Last year, former KB Home chief Bruce Karatz, who was convicted of mail fraud and providing false statements, was sentenced to eight months of GPS-monitored detention in his $18-million Bel Air, Calif., mansion. In 2009, Roman Polanski traded a Swiss
Article Link:
Google News article
PARALLEL LIVES; The Semi-First Ladies
NYTimes - almost 6 years
Not since 1980 -- when Hugh L. Carey (still between his first and second marriages) and Edward I. Koch (a lifelong bachelor) were the governor and the mayor -- have New York State's two most-prominent elected positions been held by single men. But that's not to say that the state and city are bereft of first ladies. Diana L. Taylor, 56, the
Article Link:
NYTimes article
A TV Cook's Next Serving? Cuomo Family Style
NYTimes - almost 7 years
Sandra Lee, a sunny on-screen chef with a homey Midwestern manner, has built a media empire around how-to advice. Through books, television shows and magazines, the self-described ''lifestylist'' has taught time-pressed women that they can create domestic happiness by drawing on what is around them: spicing up packaged cake mix with peach juice,
Article Link:
NYTimes article
NYTimes - over 10 years
Rebound in Foreign Students The number of new foreign students coming to the United States grew this school year, after several years of decline that followed the terrorist attacks of 2001, according to a survey. PAGE A20 Giving, a Special Section A new generation of billionaire business people, the ''philanthropreneurs,'' are trying to harness
Article Link:
NYTimes article
Bed Bath & Beyond Will Take Charge Related to Option Grants
NYTimes - over 10 years
The home goods retailer Bed Bath & Beyond said yesterday that it expected to take an $8 million charge related to the review of stock option grants to employees. The Securities and Exchange Commission is reviewing the stock option practices of more than 100 companies to determine if they manipulated the timing and prices of stock options given to
Article Link:
NYTimes article
SATURDAY INTERVIEW -- Bruce Karatz; Gearing Up For Slowdown In Housing
NYTimes - almost 11 years
Bruce Karatz subscribes to the ''jump in with feet first'' philosophy of life, an approach that has proved tremendously successful. When he was assigned to run KB Home's French operations in 1976, Mr. Karatz, now KB's chairman and chief executive, asked that his secretary speak only French, even though he had taken just three days of language
Article Link:
NYTimes article
NYTimes - almost 11 years
Bruce Karatz can bring any cocktail-party chatter about cashing in on the real estate boom to a dead silence. Mr. Karatz, the chairman and chief executive of KB Home, a builder based in Los Angeles, reaped gains of $118 million on stock options last year and received a pay package for 2005 that was worth more than $37 million, the company's proxy
Article Link:
NYTimes article
National Briefing | South: Louisiana: First Big Gulf Coast Housing Plan
NYTimes - about 11 years
The first major housing investment in the New Orleans region since Hurricane Katrina is coming from a California company that is planning a community with up to 20,000 houses. The builder, KB Home, formed a joint venture with the Shaw Group of Baton Rouge to buy a 3,000-acre tract near Avondale, in Jefferson Parish. The venture, called KB Home/Shaw
Article Link:
NYTimes article
Marthatown: Living In the Bubble
NYTimes - over 11 years
THE color rendering of a modest two-and-a-half-story suburban home, facing the street, with two garage doors and a recessed porch, may not immediately bring to mind Martha Stewart's 153-acre estate in upper Westchester County with its stables, gardens and manor house. But that's the idea. A licensing deal unveiled this week bringing together Ms.
Article Link:
NYTimes article
NYTimes - almost 12 years
Talk about knowledge of the green. Timothy W. Finchem, the PGA Tour commissioner, joined the board of KB Homes last week. ''His experience in developing land and creating world-renown golf course communities will be extremely valuable,'' said Bruce Karatz, KB's chairman and chief executive. KB Homes has traditionally built houses for first-time and
Article Link:
NYTimes article
Reports Suggest Economy Is Warming Up
NYTimes - over 12 years
Industrial production and new home construction rose sharply last month, suggesting that the economy is overcoming high energy prices and rebounding from the summer slump. But a spike in consumer prices is also stoking worries that inflation might spread more broadly as the economy heats up. The Federal Reserve reported yesterday that industrial
Article Link:
NYTimes article
Learn about memorable moments in the evolution of Bruce Karatz
  • 2014
    Age 68
    In October 2014, Karatz partnered with Guy Nafilyan, the former Chairman and CEO of Kaufman & Broad France, to create the Paris-based real estate development company called Nafilyan & Partners.
    More Details Hide Details Karatz and Nafilyan each own 37.5% of the company and the remaining 25% is owned by two investment groups and two financial institutions. Nafilyan & Partners opened for sale its first development in Villepinte, a suburb of Paris, France on October 11, 2014. As of October 2014, Nafilyan & Partners has 22 projects representing approximately 2,000 residences throughout suburban Paris. After the Los Angeles riots in 1992, Kaufman and Broad spearheaded the effort to rebuild Camp Hollywoodland, a rustic canyon retreat for inner-city children whose main hall, dining room and other structures were gutted by fire. In the early 1990s, Karatz co-chaired along with Los Angeles Mayor Richard Riordan the Mayor’s Alliance for a Safer LA, which raised over $16 million to place computers in all LA precincts.
  • 2013
    Age 67
    Under this settlement, Karatz, among other things, consented to an order barring him, for five years ending in September 2013, from acting as an officer or director of a company with securities registered with the SEC or required to file reports with the SEC.
    More Details Hide Details
    In March 2013, Karatz was a recipient of The Malibu Times' 23rd Annual Dolphin Awards.
    More Details Hide Details
  • 2012
    Age 66
    The federal judge later entered an order providing for the early termination of Karatz’s five-year term of probation effective April 27, 2012.
    More Details Hide Details The sentence of probation was based on a report of the U.S. Probation Office concluding that Karatz’s "conduct does not appear to have resulted in any pecuniary harm" to KB Home or its shareholders and stating as follows: Truly, in the collective 30 plus-year experience of the undersigned Probation Officer and Supervising Probation Officer, this office has never seen such an array of efforts to assist the community... These letters on Mr. Karatz’s behalf all note the defendant’s support during times of need. Most notably, the letters describe the involvement of the defendant and reflect a participation that involved much more than mere financial donations. This is not a man who simply shared his wealth. He extensively shared his expertise and time as well.
  • 2010
    Age 64
    On November 10, 2010, a federal judge sentenced Karatz to probation for a term of five years, including eight months of home detention, for his role in the Company’s stock option back-dating procedures.
    More Details Hide Details
  • 2008
    Age 62
    On September 15, 2008, Karatz settled civil charges brought by the Securities and Exchange Commission ("SEC") arising out of these stock option back-dating procedures.
    More Details Hide Details
  • 2007
    Age 61
    In 2007, Karatz founded the Keep Your Home Foundation to support people in California facing foreclosures as a result of the mortgage crisis.
    More Details Hide Details Keep Your Home Foundation supports a clearinghouse website to provide information to homeowners facing foreclosure. From May 2010 to August 2011, Karatz worked as a full-time volunteer with the non-profit, HomeBoy Industries, which provides a second chance to formerly incarcerated gang members by training them to re-enter society. Today, Karatz is a member of the Homeboy Industries’ Board of Trustees and serves as a board member of Phoenix House, a non-profit leader in substance abuse treatment. He is also chairman of the Bruce Karatz Family Foundation. Karatz other philanthropic/non-profit initiatives have included: Karatz has been recognized for his philanthropic leadership, including: Karatz has served as a member of the Board of Directors of various companies including: Over the years, Karatz generated attention over his support of Democratic candidates, including Bill Clinton, Barack Obama, Al Gore, Antonio Villaraigosa and Dianne Feinstein (according to public campaign finance records.)
  • 2006
    Age 60
    On November 12, 2006, Karatz retired from KB Home and agreed to pay the Company the profits he received based on KB Home’s stock option back-dating procedures.
    More Details Hide Details
  • 2005
    Age 59
    In December 2005, shortly after Hurricane Katrina, Karatz directed that KB Home become the first, and at that time only, national homebuilder to go to New Orleans to support re-building efforts in the wake of Hurricane Katrina.
    More Details Hide Details KB Home acquired 74 finished lots in downtown New Orleans and bought 3,000 acres in Jefferson Parish. At the time, Karatz said, "We're now seven, eight months into post-Katrina, and we're the only ones that have stepped up. I honestly think that's part of the problem with New Orleans: It's a weak business community. And I personally felt it was important for a company like ours to do something, because if we waited for others, we could be waiting a long time. And if we're successful, it will motivate others." Karatz had to overcome reservations of KB Homes’ Board of Directors. Fortune Magazine wrote at the time, "It’s not often you hear a CEO express goals in humanitarian, not bottom-line, terms, especially when its shareholder money with which he’s do-gooding." Karatz agreed to make KB Home the builder for an episode of ABC’s Extreme Makeover Home Edition after listening to a pitch from employees. The show featured a family headed by a single mother, Patricia Broadbent, who had been diagnosed with lung cancer and had seven children. Six of the children were adopted, three of those born with HIV.
    In 2005, Karatz’ last full year as Chairman and CEO, KB Home’s profits were $1.29 billion.
    More Details Hide Details
  • 2001
    Age 55
    From 2001 to 2005 he was married to Sandra Lee, a television personality.
    More Details Hide Details Lee converted to Judaism. Karatz is currently married to Lilly Tartikoff, a leading cancer activist best known for co-founding the annual Revlon Run/Walk events in New York and Los Angeles and Revlon/UCLA Women's Cancer Research Program, which helped raise more than $80 million for cancer research. Karatz has three adult children, Elizabeth, Matthew and Teddy, and four grandchildren. Elizabeth is the founder and chief executive officer of La Loop, a privately owned firm which manufactures and sells a line of patented eye glass products. Matthew served as Deputy Mayor of the City of Los Angeles and the head of the City’s Office of Economic and Business Policy. He has oversight of all housing related City departments from the Los Angeles Department of Water and Power asset and real estate management to the City Planning Department. Teddy was recently named to head up the Los Angeles office of a New York-based private equity firm.
  • 1996
    Age 50
    In the early 1990s, when the real estate market in Southern California collapsed, Karatz moved aggressively to expand the company by acquiring other regional home builders such as the San Antonio-based builder Rayco for $105 million in 1996.
    More Details Hide Details The success of the new business model led KB Home to acquire additional companies and expand organically into markets across the country to provide customized homes for middle-class families. As CEO, Karatz built on his Paris marketing achievements. Working with Fox Broadcasting, which was celebrating the tenth anniversary of The Simpsons, KB Home constructed a real-life replica of the Simpsons' home in one of KB Home's Nevada subdivisions, which helped turn Las Vegas into KB Home's top market. During his tenure as CEO, KB Home became a Fortune 500 company. Karatz oversaw a 1476% increase in the company’s market capitalization, an 800% increase in the companies stock price, a 575% growth in revenue, a 400% rise in dividends and increased the number of employees from less than 500 to over 6,000. In 2006, KB Home was ranked the #1 homebuilder in Fortune Magazine’s 2006 list of America’s Most Admired Companies and was listed by Fortune as one of America’s Most Admired Companies4 and won the American Business Award as the Best Overall Company. Karatz in turn became one of the country's highest-paid CEOs during this time.
  • 1981
    Age 35
    In 1981 Karatz re-joined the Los Angeles headquarters of KB Home and in 1986 was named CEO.
    More Details Hide Details As CEO, Karatz oversaw the company’s growth into one of the most successful home building companies in the world. Karatz is credited with changing the company’s business model of building homes on speculation and then selling them in favor of building houses on order. KB Home's new business model allowed middle class home buyers to customize their homes and defined a far more efficient and profitable business model for the industry.
  • 1977
    Age 31
    After spending a short time as an in-house counsel, Karatz moved to the home building side of the business and soon thereafter became head of KB Home’s French division. He made a mark in 1977 when he installed a full-sized model home on the roof of the Au Printemps department store.
    More Details Hide Details More than 500,000 people toured the rooftop house. During his time in France, KB Home grew into one of France's largest homebuilders.
  • 1972
    Age 26
    In 1972, Karatz joined Kaufman & Broad (the company took the KB Home name in 2001) as an associate general counsel.
    More Details Hide Details
  • 1970
    Age 24
    Karatz received his Juris Doctor degree from the University of Southern California in 1970.
    More Details Hide Details
  • 1968
    Age 22
    Karatz has been married three times. From 1968 to 2001, he was married to Janet Dreisen, an art consultant and board member of various arts and other non-profit institutions in Los Angeles.
    More Details Hide Details
  • 1963
    Age 17
    Karatz was born in Chicago, Il and raised in Minneapolis, Minnesota to a middle class Jewish family where his father owned a movie theater and his mother was a homemaker. He graduated from high school in 1963 and from Boston University in 1967.
    More Details Hide Details
  • 1945
    Born on October 10, 1945.
    More Details Hide Details
Original Authors of this text are noted here.
All data offered is derived from public sources. Spokeo does not verify or evaluate each piece of data, and makes no warranties or guarantees about any of the information offered. Spokeo does not possess or have access to secure or private financial information. Spokeo is not a consumer reporting agency and does not offer consumer reports. None of the information offered by Spokeo is to be considered for purposes of determining any entity or person's eligibility for credit, insurance, employment, housing, or for any other purposes covered under the Fair Credit Reporting Act (FCRA)