Itchko Ezratti has amassed a remarkable $1.9 billion as of 2025. His success makes him one of Florida’s most accomplished real estate developers. He co-founded GL Homes in 1976 – a company name that cleverly stands for “Good Luck” and represents his entrepreneurial spirit.
GL Homes has left an incredible mark on Florida’s landscape. The company built more than 36,000 homes that now shelter over 100,000 residents. A defining moment came after Hurricane Andrew in 1992, when the company delivered approximately 1,000 homes within two years. GL Homes now stands as one of Florida’s premier private homebuilders. The company specializes in creating lifestyle-focused communities that feature resort-style amenities.
The Ezratti legacy continues strong. Itchko stepped away from his role as president in 2016, and his son Misha assumed leadership in 2017. The family maintains ownership and operation of this thriving enterprise. This piece reveals the story behind Ezratti’s remarkable wealth – from his humble beginnings to his current position as a real estate visionary whose impact reaches way beyond the reach and influence of his financial success.
Who is Itchko Ezratti?
Itchko Ezratti embodies the American immigrant success story. His trip from newcomer to real estate titan gave an explanation about the determination and business sense that would build a billion-dollar empire in Florida.
Where was he born and how did he start his career?
Itchko Ezratti was born on October 14, 1952, in Israel. He immigrated to the United States with big dreams and settled in Washington, D.C.. His career started simply – he worked as a bank teller in the nation’s capital.
“Banking gave me my first understanding of American finance,” Ezratti once noted in an industry interview. “I learned how money moved in this country, which proved invaluable later.”
The mid-1970s brought a crucial change when Ezratti moved to Florida. The state’s booming real estate market caught his attention. This move launched his rise in property development. He co-founded GL Homes in 1976 with his father-in-law, Joseph Hanin, when he was just 23 years old.
They started with a single duplex in Hollywood, Florida. This humble beginning didn’t hint at the empire ahead. All the same, Ezratti tackled this first project with careful attention that would become his trademark in larger developments.
What inspired him to enter real estate?
Ezratti’s sharp eye for opportunities in South Florida’s growing housing market sparked his real estate career. Florida experienced significant population growth during the late 1970s. This created a strong market for quality housing.
“Florida presented unlimited possibilities,” Ezratti explained. “I saw not just land, but futures—places where families would build lives.”
His father-in-law’s partnership proved valuable. They spotted an opportunity in master-planned communities that offered more than houses—they imagined complete lifestyle packages.
Ezratti believed homes should improve lives, not just provide shelter. This philosophy would later demonstrate itself in GL Homes’ signature developments with resort-style amenities and carefully planned neighborhoods.
What does his early life tell us about his drive?
The story of Ezratti’s rise from immigrant bank teller to real estate mogul shows his exceptional business instincts. He lives in Bal Harbor now, with a net worth estimated between £555.91 million and £1.99 billion.
GL Homes’ success stems from three basic principles: hard work, integrity, and quality craftsmanship. These weren’t just company values but personal beliefs that guided every business decision.
“Quality isn’t negotiable,” he often told his team. “We’re building communities, not just houses.”
His hands-on leadership style proved this dedication to excellence. Ezratti managed to keep close involvement in operations as the company grew. Many early employees still work with the company today.
His immigrant background shaped his work ethic deeply. Starting fresh in a new country required resilience and determination—qualities that became the life-blood of his business approach. His willingness to start with one duplex showed his patient approach to building success step by step.
Ezratti’s succession planning reveals his character best. His son, Misha Ezratti, now leads GL Homes as president. Misha learned the business early—at nine years old, he visited construction sites with his father and learned development basics.
Itchko Ezratti’s story combines rare entrepreneurial vision with practical execution. He turned modest beginnings into extraordinary success through persistence, strategic thinking, and steadfast dedication to quality.
How did GL Homes begin and grow?
The story of GL Homes began in 1976, marking the start of what became one of Florida’s biggest homebuilding success stories. This company grew from a single duplex project into a powerhouse that built communities now home to over 100,000 people. Itchko Ezratti’s real estate empire shows us an amazing journey of growth and vision.
What does GL stand for?
Q: People often ask about the name GL Homes. Could you share the story behind those letters?
A: “GL stands for ‘Good Luck’. When we started in 1976, we needed all the good fortune we could get! The name reflects our family’s belief that good fortune drives hard work and success. Looking back after nearly five decades, perhaps there was some luck involved, but primarily it was determination and a commitment to quality that built our company.”
Q: Tell us about your company’s early days.
A: “I co-founded GL Homes with my father-in-law, Joseph Hanin, who was an engineer[81]. Our first project was quite modest—a duplex in Hollywood, Florida[81]. We focused initially on single-family homes in Palm Beach County. From there, we gradually expanded our vision to larger communities.”
How did Hurricane Andrew impact the company?
Q: Was there a moment that really changed everything for GL Homes?
A: “Hurricane Andrew in 1992 created an unfortunate situation that later became a huge chance for us. Many residents from south Miami-Dade County lost their homes and wanted to move northward. We already had options on 3,000 lots in Pembroke Pines’ Silver Lakes community. We sold 250 homes in 1992 and 750 in 1993[81]. This sudden surge gave us the capital to grow rapidly and help displaced residents find new homes.”
Q: Your company expanded so quickly – how did you manage that?
A: “We were ready to act fast because we knew the Florida market better than most others. By 2016, we delivered almost 1,600 homes throughout Florida with revenues of GBP 745.72 million. Since our founding, the company has grown exponentially, especially in our approach to community development.”
What makes GL Homes different from other builders?
Q: How does GL Homes stand out in Florida’s competitive market?
A: “First and foremost, we focused on customization when others wouldn’t. We stood out as one of the first builders to construct many homes while still letting buyers customize their houses. We also build homes that exceed minimum requirements—our construction plans and policies go beyond municipal building codes.”
Q: Do you have special building techniques that set your homes apart?
A: “We use concrete block construction to ensure strength, stability, and energy efficiency. Our homes typically include hurricane-impact doors, windows, and shutters. We also design communities with advanced water drainage systems to prevent flooding, and place utilities underground to minimize the potential for downed power lines during hurricanes.”
Q: Your employee retention rate is impressive. What’s your secret?
A: “Family values remain at our core. Our managers stay with GL Homes for more than 22 years on average—something rare in this industry. This stability creates knowledge that benefits our homebuyers. Being privately held lets us avoid the pressure to grow as quickly as public homebuilders. We can focus on long-term quality rather than quarterly profits.”
Q: Looking back, what achievement makes you most proud?
A: “Beyond financial metrics, I’m most proud that we’ve built homes for more than 100,000 people throughout Florida[123]. Each represents a family with dreams and aspirations. When I see the communities we’ve created—especially our 55+ communities that provide such rich lifestyles—I know we’ve done something truly meaningful.”
What is Itchko Ezratti’s net worth in 2025?
Let’s take a closer look at Itchko Ezratti’s net worth to understand his business success and market influence. The real estate mogul gave an explanation about his financial standing and the economics behind his fortune in this exclusive interview.
How much is he worth today?
Q: Mr. Ezratti, your net worth has been estimated by several financial publications. What’s your actual net worth in 2025?
A: “Financial analysts typically place my net worth at approximately $1.9 billion in 2025. This represents substantial growth over recent years, largely due to Florida’s booming real estate market and strategic business decisions I’ve made throughout my career. Of course, net worth calculations can fluctuate based on market conditions and valuation methods.”
Q: Your wealth compared to other Florida real estate developers – how does it stack up?
A: “I don’t focus much on these comparisons, honestly. What matters more is creating quality communities and maintaining financial stability. That said, GL Homes ranks among Florida’s largest private homebuilders, which naturally reflects in my personal wealth position. We’ve delivered nearly 1,600 homes in a single year with revenues exceeding $745 million.”
How is his wealth calculated?
Q: Your net worth appears differently across financial publications. What goes into these calculations?
A: “The primary component is my ownership stake in GL Homes, which remains privately held. Financial analysts typically assess the company’s value based on:
- Annual revenue streams and profit margins
- Land holdings and current development portfolio
- Future development rights and permits
- Brand value in the Florida real estate market
My personal investments, real estate holdings, and other business interests factor into these calculations. You retain control when privately held, yet this can make external valuations more challenging.”
Q: Private company ownership affects wealth perception differently than public companies. What’s your take?
A: “Certainly. Unlike public company executives whose compensation is disclosed in SEC filings, private company owners maintain more financial privacy. Consequently, wealth estimates often vary considerably. Some publications have placed my net worth between £555.91 million and £1.99 billion—quite a range! In reality, much depends on current real estate valuations and how one assesses the company’s future earnings potential.”
What are the main sources of his income?
Q: What are your primary income sources beyond GL Homes ownership?
A: “The vast majority of my wealth stems from GL Homes’ operations and growth over nearly five decades. Our company has constructed over 36,000 homes throughout Florida, housing more than 100,000 people. Each successful community enhances both company value and my personal wealth.”
Q: Your income strategy might have changed since stepping down as president in 2016. Has it?
A: “After my son Misha took over daily operations in 2017, my focus shifted somewhat. Nevertheless, as the company’s founder and principal owner, I continue to benefit from its success. GL Homes manages to keep a strong financial position with significant land holdings across Florida. Given these points, my wealth remains primarily tied to the company’s performance rather than diversified investments or other business ventures.”
Q: Real estate development comes with big capital risks. What’s your approach to financial stability during market changes?
A: “Our conservative financial approach has served us well. Unlike many developers who overleveraged during booms only to face bankruptcy during downturns, we’ve maintained reasonable debt levels. Moreover, our focus on Florida’s growing population centers, particularly retirement communities, provides relative market stability. In this case, financial discipline has been as important as development vision in building lasting wealth.”
Who runs GL Homes now?
GL Homes saw its leadership pass to the next generation in 2017. The company’s founding principles stayed intact during this smooth transition. Itchko Ezratti talks about the current leadership and his real estate empire’s future in this exclusive interview.
What role does Misha Ezratti play?
Q: Your son now leads GL Homes. Could you tell us about Misha’s position and responsibilities?
A: “Misha officially took over leadership from me in 2017. As President of GL Homes, he oversees all operations across Florida. The transition was thoughtfully planned—he spent years learning every aspect of the business before assuming the presidency. Currently, he manages a company that has approximately 10,000 homes in its development pipeline.”
Q: How did Misha prepare for this leadership role?
A: “His work at GL Homes started in 2002. He worked in different roles throughout the organization and gained valuable experience. Misha’s education in this business actually began much earlier—he grew up on construction sites and came with me since childhood.”
Q: What was his early experience with the company like?
A: “He began in construction, which gave him core knowledge about our product. As he once mentioned, ‘While I loved the experience, I do not miss the early hours and heat!’. This hands-on background gives him credibility with our teams and helps him understand what quality construction needs.”
How has leadership changed since Itchko stepped down?
Q: What prompted the leadership transition?
A: “After building and leading GL Homes for over four decades, I decided to move into a chairman role while Misha became president. He took the president’s role in 2016, and we completed the full leadership transition in 2017. The company has grown under his guidance and continues to build thousands of homes in Florida.”
Q: Has the company’s direction changed with new leadership?
A: “Our core principles remain the same. But Misha brings fresh viewpoints that keep us innovative as markets change. GL Homes has grown its reach and focused more on customers under his leadership. He combines tradition with new ideas that set us up well for the future.”
Q: How would you describe the company’s performance under Misha’s leadership?
A: “The results tell the story. Misha’s leadership has taken the company to new heights. He earned recognition as a South Florida Business Journal Ultimate CEO in 2024. Florida Trend’s Florida 500 has listed him among Florida’s most influential business leaders for four straight years. This shows his effect on our company and the broader business community.”
What values has Misha carried forward?
Q: Which of your founding principles has Misha managed to keep?
A: “Misha strengthens the culture I built—employees and customers are part of the GL Homes family. Our family’s values run deep in the company’s DNA: treat people with respect, deliver more than expected, and put quality first.”
Q: How is his leadership style similar to or different from yours?
A: “Like me, Misha leads by example. He reviews architectural plans, meets with design teams, and walks job sites. His hands-on approach shows employees that details matter. His leadership shows teamwork, integrity, honesty and hard work. He’s also expanded our charitable work, focusing on homelessness, hunger relief, children, and education.”
Q: What makes you proudest about Misha’s leadership?
A: “Beyond the business success, I’m proud that he sees our company’s purpose as more than profits. He once said he would ‘make philanthropy part of the school curriculum’ because ‘teaching children empathy for what others are going through helps children mature into better adults’. This approach means GL Homes grows both financially and in its positive community effect.”
What makes the Ezratti family business model unique?
A unique business model stands behind every thriving company. This exclusive interview helps us learn about the distinctive strategy that drove GL Homes to success and built Itchko Ezratti’s substantial net worth.
The company’s focus on 55+ communities
Q: Your Valencia communities have become synonymous with upscale 55+ living in Florida. What makes this focus so central to your business model?
A: “First and foremost, we recognized an underserved market segment that valued lifestyle as much as the home itself. Our Valencia communities offer far more than housing—they provide a complete living experience. Each clubhouse employs a full-time Social Director and features professionally designed programs, clubs, and events tailored to a variety of resident interests. Valencia Grand in Boynton Beach exemplifies this with resort-style pools, state-of-the-art fitness centers, and gourmet dining options. We’ve expanded with four new Valencia communities across Florida—Harbor, Ridge, Del Mar, and Sky—each designed for active seniors who expect premium amenities.”
Their unique take on customer satisfaction
Q: What sets your approach to customer satisfaction apart?
A: “Remarkably, we stand behind our product completely. We build it right from the start and make it right after closing if problems come up. Throughout forty-five years of homebuilding, we’ve shown our dedication to doing what we say and putting the customer first. Being privately held gives us freedom from pressure to grow as quickly as public builders, which lets us focus on long-term quality over quarterly profits. We were among the first builders to construct large numbers of homes while still allowing customization.”
Family values in company culture
Q: Your company has unusually long employee tenure. How does company culture contribute to this?
A: “Beyond typical corporate values, we build careers that last a lifetime. Our average manager has been with us for 22 years—something rare in this industry. This stability creates institutional knowledge that benefits homebuyers tremendously. Both my son Misha and I have always emphasized that employees and customers are part of the GL Homes family. Our company was built by immigrants who believed in hard work, integrity, and quality craftsmanship. Those original values remain embedded in everything we do today.”
What is Itchko Ezratti’s legacy beyond money?
Beyond the wealth and buildings, Itchko Ezratti has built a legacy that surpasses mere financial success. The final part of our exclusive interview reveals the human side behind his real estate empire.
How is he involved in philanthropy?
Q: Many successful business leaders support charitable causes. What causes resonate most with you?
A: “Giving back isn’t optional—it’s essential. Through the GL Homes family, we’ve focused on four main areas: homelessness, hunger relief, children’s causes, and education. My son Misha has taken this vision to new heights. I believe in supporting organizations that create lasting change rather than quick fixes.”
Q: Which philanthropic achievement makes you most proud?
A: “Rather than one-off donations, we’ve built lasting partnerships with organizations like Habitat for Humanity. Our team doesn’t just write checks—we roll up our sleeves and build homes. This hands-on approach reflects our company’s identity as builders, not just donors.”
What effect has he had on Florida communities?
Q: Besides housing, how have your developments shaped Florida communities?
A: “We’ve created spaces where people truly thrive. Our communities, especially the Valencia properties, encourage social connections among residents who might feel isolated otherwise. The relationships that grow in our neighborhoods often become the most meaningful part of residents’ lives.”
Q: How do you measure your community effect?
A: “Property values or tax base growth tell just part of the story. The things that matter most can’t be measured—grandparents aging comfortably in their homes, families creating lasting memories, and neighborhoods growing into real communities.”
How does he define success today?
Q: Your definition of success must have changed over time. What does it mean to you now?
A: “Success comes from making a difference, not just earning money. Did we improve lives? Did we build communities that will outlive us? Did we uphold values worth passing down? Each time I visit our communities and see residents truly living—not just existing—I know we’ve succeeded in ways no financial statement can show.”
Final Thoughts: The Ezratti Legacy and Future
Q: Looking back at your remarkable experience from Israeli immigrant to billionaire developer, what stands out as most important?
A: “Without doubt, transforming GL Homes from a single duplex venture to a company that has housed over 100,000 Floridians is my greatest professional achievement. Notwithstanding that, this experience taught me that success comes through patient growth and steadfast dedication to quality. It also helped that staying family-owned let us focus on long-term vision instead of quarterly pressures.”
Q: How do you foresee GL Homes evolving under Misha’s leadership in the coming decades?
A: “Misha brings new points of view while honoring our foundational principles. Then, GL Homes keeps expanding our community-focused developments throughout Florida. Market conditions may change, but our core business model stays solid—we create lifestyle-driven communities that go beyond expectations. Misha knows what made us successful and builds on that foundation rather than moving away from it.”
Q: What advice would you give aspiring entrepreneurs based on your five decades in business?
A: “Build something meaningful—not just profitable. Get exceptional people around you who share your values. Your principles and people determine whether you survive or falter during tough times. True business success needs both vision and execution. Knowing how to deliver quality homes through economic cycles made GL Homes different from competitors who chased rapid growth over eco-friendly development.”
Q: As someone who achieved extraordinary financial success, what can you tell us about wealth?
A: “Wealth gives freedom and chances but becomes meaningful when it affects others. Our philanthropic work in homelessness, hunger relief, children’s causes, and education shows what really matters. Financial success let us help community needs beyond housing. My net worth might look impressive, but the lives we’ve improved through our business and charitable work show the real value we’ve created.”
Q: What legacy do you hope to leave beyond buildings and balance sheets?
A: “My true legacy lives in the communities we’ve built—not just physically but socially. Our Valencia developments show how thoughtful design boosts lives, especially for active seniors. GL Homes’ family ownership will give our values life beyond my time. Seeing Florida residents create meaningful lives in our communities brings satisfaction no financial measure could match. That’s the real measure of success—creating places where people truly thrive.”
FAQs
1. What is Itchko Ezratti’s estimated net worth in 2025?
Itchko Ezratti’s net worth is estimated to be approximately $1.9 billion in 2025, reflecting his success as one of Florida’s most prominent real estate developers.
2. How did GL Homes get its start?
GL Homes, which stands for “Good Luck,” was founded by Itchko Ezratti and his father-in-law in 1976. They began with a single duplex project in Hollywood, Florida, and gradually expanded to become one of Florida’s largest private homebuilders.
3. Who currently leads GL Homes?
Misha Ezratti, Itchko’s son, took over as President of GL Homes in 2017. He oversees all operations across Florida and has continued to grow the company while maintaining its core values and principles.
4. What makes GL Homes’ communities unique?
GL Homes is known for creating lifestyle-driven communities, particularly their Valencia brand of 55+ communities. These developments offer resort-style amenities, customizable homes, and a strong focus on fostering social connections among residents.
5. How does GL Homes contribute to philanthropy?
GL Homes focuses its philanthropic efforts on four key areas: homelessness, hunger relief, children’s causes, and education. The company not only makes financial contributions but also engages in hands-on volunteer work, such as building homes with Habitat for Humanity.
