Itzhak Ezratti is worth £1.5 billion right now. That’s about $1.9 billion if you’re thinking in dollars. Not bad for someone who started as a bank teller, is it?
But here’s what makes his story interesting. This isn’t some tech genius who got lucky with an app. This is a bloke who spent fifty years building houses in Florida. Old school stuff. Buy land, build quality homes, treat people right, repeat. Again and again and again.
Starting from Basically Nothing
Itzhak moved from Israel to America in 1974. He was twenty-three and broke. Worked as a bank teller in Washington, D.C. for a bit, but the cold weather did his head in. So he moved to Florida and tried running a restaurant.
The restaurant gave him business experience, but wasn’t making him rich. In 1976, he partnered with his father-in-law, Joseph Hanin, and started GL Homes. The name stands for “Good Luck”, which tells you how confident they felt at the start.
Their first project was a duplex in Hollywood, Florida. Just one. From that, Itzhak built a property empire worth billions.
Hurricane Andrew Changed Everything
For about fifteen years, GL Homes grew slowly. They built decent houses, earned a solid reputation, and stayed afloat. Nothing spectacular.
Then Hurricane Andrew hit Florida in 1992. Thousands of families lost everything. Itzhak saw people desperate for housing and decided to help. GL Homes built quickly without cutting corners. They sold about 1,000 homes to displaced families.
That’s when things took off. They’d proven they could build fast AND build well. Their reputation went from “pretty good” to “these are the people you want building your house.”
What Made Him Different
Loads of developers are house builders, plain and simple. Itzhak built communities. Nice ones with clubhouses, swimming pools, tennis courts, walking trails and good schools nearby.
His 55+ active adult communities were brilliant timing. Baby boomers began to retire and migrate to Florida. They craved more than just four walls and a roof. They wanted neighbours their own age, activities, and amenities. Valencia Grand, Valencia Sky and Valencia Lakes. These are settlements that are small towns catering specifically to retirees.
The homes themselves were of quality. Not the least expensive you could purchase, but well-constructed and thoughtfully designed. GL Homes never took shortcuts, even if doing so would have been more profitable.
This approach worked. GL Homes has now built 75,000 homes throughout Florida. Over 100,000 people reside in homes they constructed. That’s roughly the size of Cambridge.
His Son Takes Over
Misha Ezratti was named president in 2016 and CEO of GL Homes in 2017. Some feared when the son took charge. Would he maintain the standards? Would customers start complaining?
Nope. Misha was raised in the business, learning it from his daddy. He kept what worked, and he added some ideas of his own. It generated $1.53 billion in revenue in 2023. Net income was $201.5 million. The company’s doing well under his leadership.
Having his son run things means the family approach continues. It’s not just about making money. It’s about building homes people actually want to live in.
Where All That Money Comes From
Itzhak Ezratti’s net worth isn’t cash in a bank account. It’s spread across loads of different things.
First, there’s the land. GL Homes owns or controls about 10,000 acres across Florida. Land that’s become massively more valuable over the decades. Every year, more people move to Florida, and land gets pricier. Itzhak bought loads of it before prices went mental.
Then there’s the company itself. GL Homes went public in 2013. The company’s now worth over $4 billion. Itzhak owns a big chunk of it, which accounts for most of his personal wealth.
The actual business makes serious money, too. Over $1.5 billion in annual revenue from selling homes. These aren’t cheap places either. Homes in Boca Raton, Naples, and Palm Beach Gardens. Prices range from £280,000 to over £2.4 million.
At the end of 2023, GL Homes had nearly 2,900 homes in their backlog worth about $1.9 billion. That’s guaranteed future revenue already locked in.
About 80% of his wealth comes from GL Homes. The other 20% is private property investments, stocks, and other ventures.
Living Rich But Not Flashy
Itzhak owns a yacht called “Avanti”. It’s 74 metres long, which is absolutely massive. But he’s not constantly posting photos of it on Instagram or anything. He’s quite private actually.
Itzhak Ezratti’s wife, Anna (sometimes listed as Brooke in different sources; the family keeps their private life very private), has been there through the whole journey. From struggling in the early years to billionaire status. She never worked officially at GL Homes but influenced the company’s values and culture.
They raised two kids who turned out well despite growing up wealthy. Misha runs GL Homes now. Maya became a dating and relationship coach. Both seem grounded and decent, which says loads about their parents.
Giving Money Away
Just last week, on November 14th, 2025, GL Homes announced they’re expanding their charity work. They’re partnering with nonprofits focused on housing, hunger relief, and family support across Florida.
GL Homes Philanthropy has supported over 2,000 organisations. They fund food banks, housing initiatives, and education programmes. This isn’t just PR. Itzhak genuinely believes in helping the communities where he builds.
Makes sense, really. If you’re making billions developing Florida, you should invest in making Florida better.
How Rich Is He Actually?
Forbes ranks him as the 1,850th wealthiest person globally. In South Florida, he’s of the top 50 richest people.
If Itzhak spent £1 million every single day, it would take over five years to spend his fortune. That’s mad.
But here’s something interesting. If you’d started with £8,000 and invested £400 monthly at the same growth rate Itzhak achieved (about 41.64% yearly), you’d reach his wealth in roughly five years. Obviously, nobody maintains 41% growth for five straight years except in rare cases. But it shows what consistent high returns can do.
What’s Different About His Story
Loads of people get rich in property. What makes Itzhak’s story worth telling?
He built something lasting. Those 75,000 homes aren’t going anywhere. The communities will be there for generations. His wealth isn’t just numbers. It’s physical structures where real people live.
He did it the hard way, too. No family money. No lucky crypto bet. Just decades of work and smart decisions. He maintained quality when cutting corners would’ve been easier and more profitable.
And he kept his values. Still involved in charity. Still focused on building proper communities, not just maximising profit. He still runs a family business where his son learnt the same way he did.
The Property Market Right Now
Florida’s property market in 2025 is still strong. People keep moving there for the weather, no state income tax, and a growing economy. Every year brings more potential customers.
Higher interest rates have slowed things a bit compared to the madness of 2020 and 2021. People can’t borrow as cheaply, so they’re more careful. But GL Homes is doing fine because it builds in desirable locations and maintains quality.
When money’s tight, people want to make sure they’re spending it well. GL Homes has that reputation.
What’s Next
Itzhak’s seventy-three now. He’s stepped back from daily operations but remains chairman. His son runs things, which means the Ezratti family will keep shaping Florida’s property landscape for decades.
The company’s got loads of land for future development. They’ve got a proven model. They’ve got brand recognition. People know Valencia communities are of quality. And they’ve got Misha, who’s shown he can maintain standards whilst bringing fresh ideas.
Itzhak Ezratti’s net worth will probably keep growing. Florida’s not getting less popular. GL Homes isn’t slowing down. The land keeps appreciating. New homes keep selling. His wealth should continue increasing.
The Real Achievement
From one duplex to 75,000 homes in fifty years. From zero to £1.5 billion. Those are impressive numbers.
But the real story isn’t about money. It’s about building something that lasts. Creating communities where people actually want to live. Maintaining quality when it would be easier not to. Treating employees well. GL Homes’ average manager has been there over 22 years, which is rare anywhere.
It’s about family, too. Building a business good enough that your son wants to run it. Creating something that’ll outlast you.
And it’s about giving back. Using success to help others. Supporting charities that solve real problems.
Itzhak Ezratti’s net worth of £1.5 billion is impressive. But what he built to earn it matters more. The communities, the reputation, the family business, the charity work. That’s the real achievement.
The money’s just what happens when you do things properly for half a century. When you build quality homes, people want them. When you create communities people love living in. When you treat customers and employees with respect.
That’s how you go from bank teller to billionaire. Not overnight. Not through luck or shortcuts. Through fifty years of consistent work, smart decisions, and refusing to compromise on quality.
Pretty simple formula, really. Execution’s the hard part.