Robert I. Toll, who co-founded homebuilding giant Toll Brothers Inc. and went on to become a noted philanthropist, died at the age of 81, the company said Friday.
Toll died following a long battle with Parkinson’s disease, according to a statement from the company. He founded Fort Washington, Pennsylvania-based Toll Brothers with his brother, Bruce Toll in 1967, ultimately growing it into a Fortune 500 company and the nation’s leading builder of luxury homes. In Greater Washington, Toll typically ranks in the top 5 or 10 homebuilders, starting between 500 and 1,000 new homes per year, according to Washington Business Journal.
Toll grew up in Elkins Park just outside of Philadelphia and attended Cornell University and the University of Pennsylvania for law school.
He served as CEO of Toll Brothers (NYSE: TOL) until 2010, when he stepped down and passed on the title to Douglas Yearley. Toll then served on the company’s board of directors before becoming chairman emeritus.
“We are heartbroken…
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