Itzhak Ezratti is the founder and chairman of GL Homes, one of Florida’s largest private homebuilders. He started the company in 1976 with a single duplex in Hollywood, Florida. Today GL Homes has built more than 36,000 homes across the state.
His son, Misha Ezratti, now runs the company as President and CEO. Itzhak stays on as chairman.
This is the real story behind the name, told through the facts that are actually on record.
Who Is Itzhak Ezratti
Itzhak Ezratti is an Israeli-American businessman and the founder of GL Homes. He is sometimes called “Itchko,” a nickname that stuck from his early years.
Here is his path in short:
- Moved from Israel to Washington, D.C. in 1974
- Worked as a bank teller after arriving in the US
- Relocated to Florida soon after, looking for warmer weather
- Founded GL Homes in 1976 with his father-in-law, Joseph Hanin
- Built the company’s first project, a duplex, in Hollywood, Florida
That first small project grew into a homebuilding company that now ranks among the largest privately held builders in the country.
Ezratti’s early career was not glamorous. A bank teller job in a cold city is not where most billion-dollar companies start. But that grounded, practical start shaped how GL Homes has operated ever since. The company has stayed privately held for its entire history, rather than chasing a public listing or outside investors. That choice gave Ezratti more control over how fast the company grew and what kind of communities it built.
Where the Name GL Homes Comes From
The name GL stands for “Good Luck.” Some later company material also connects it to “Great Living,” which reflects what the communities aim to offer residents.
Both meanings fit the story. The company started small and grew through steady decisions, not luck alone. Ezratti has said in interviews over the years that the name was meant as a simple, hopeful marker for a new business, not a branding exercise. It stuck because the company kept delivering on it.
How GL Homes Grew Into a Florida Real Estate Leader
GL Homes did not grow overnight. It grew through a series of smart moves during key moments in Florida’s housing history.
The Early Years in Hollywood, Florida
The first GL Homes project was modest: a single duplex. From there, the company took on small residential projects across Broward County through the late 1970s and 1980s. This slow build gave Ezratti time to learn the regulatory and construction side of Florida homebuilding before scaling up.
The Hurricane Andrew Turning Point
Hurricane Andrew hit South Florida in 1992. It destroyed thousands of homes and left a huge need for new, safe housing.
GL Homes was ready to meet that demand. This period marked a major growth phase for the company. Building codes across South Florida also tightened after Andrew, and GL Homes adjusted its construction standards early, which helped it keep pace with new state requirements as they rolled out over the following years.
Expansion Into Palm Beach County’s Agricultural Reserve
Many developers avoided Palm Beach County’s Agricultural Reserve because of its complicated land-use rules. GL Homes took a different approach and became one of the few builders that understood how to work within those rules. This gave the company access to land other builders passed on, and it became a core part of GL Homes’ growth strategy in the 2000s.
A Focus on 55-Plus Communities
GL Homes became known for master-planned communities built for active adults aged 55 and older. The Valencia line of communities is the clearest example of this focus.
Recent Valencia communities include:
| Community | Location Type |
|---|---|
| Valencia Ridge | South Florida |
| Valencia Sky | South Florida |
| Valencia Harbor | Fort Myers |
| Valencia Del Mar | South Florida |
| Valencia Sound | South Florida |
These communities are resort-style, amenity-heavy, and built for a specific lifestyle, not just for shelter. A 2025 expansion of the Valencia Harbor community in Fort Myers included a 33,000-square-foot clubhouse, which shows the scale GL Homes now builds at for a single amenity center.
Standing Behind Its Work
GL Homes built a reputation for taking responsibility when problems came up. When Chinese drywall issues hit the homebuilding industry, GL Homes covered replacement costs for affected homeowners instead of walking away.
That kind of decision is part of why the company built long-term trust in Florida’s housing market. In an industry where builders often shift liability onto homeowners through contracts and warranties, this stood out as a different way of doing business.
Itzhak Ezratti Net Worth and Business Scale
Forbes has placed Itzhak Ezratti’s net worth at around $1.9 billion. This figure reflects his ownership stake in GL Homes, not a personal cash number.
GL Homes today, by the numbers:
- Founded in 1976
- Over 36,000 homes built
- More than 100,000 residents living in GL Homes communities
- Ranked among the top 10 largest private homebuilders in the US
- Communities across Palm Beach, Broward, Fort Myers, Naples, Tampa, and Port St. Lucie
That scale did not happen fast. It took five decades of steady project delivery. For comparison, most regional homebuilders in Florida operate at a fraction of this footprint, working in one or two counties rather than across the state.
The Move to Misha Ezratti as President and CEO
In 2016, Itzhak Ezratti stepped down as president of GL Homes. His son, Misha Ezratti, took over the role.
Misha grew up around the business. Some key points in his path:
- Born and raised in Hollywood, Florida
- Earned a Bachelor of Science in Finance from Boston University
- Joined GL Homes and worked across nearly every department
- Became President in 2016 after 18 years with the company
Itzhak stayed on as chairman. He remains involved in the company’s overall direction, while Misha handles daily operations and strategy.
This kind of clean generational handoff is rare in family-run companies. Many businesses struggle when leadership shifts to the next generation, either because the next generation is not prepared or because the founder will not let go of control. GL Homes avoided both problems. Misha spent nearly two decades learning the business from the inside before taking the top operating role, and Itzhak kept a defined but limited role as chairman rather than staying fully in charge.
GL Homes’ Role in South Florida Philanthropy
The company’s community focus extends past its own developments. GL Homes has a long-running role in South Florida philanthropy, including partnerships with organizations working on:
- Breaking cycles of homelessness
- Hunger relief efforts
- Support for local youth and families in need
This work is tied closely to the company’s public messaging, but it also shows up in consistent, repeated partnerships rather than one-off donations. The company treats this as part of its identity in the region, not a side project.
What This Succession Means for GL Homes Going Forward
A founder who stays close to the company, paired with a next-generation leader who already knows the business inside out, tends to produce stability. That is the pattern here.
GL Homes marked its 50th anniversary milestone recently, with continued expansion of its Valencia communities and other projects across the state. The company also keeps a visible role in South Florida philanthropy, including work with organizations focused on homelessness prevention and hunger relief.
The takeaway for anyone researching the company: GL Homes is not a story about one person. It is a two-generation build, with Itzhak laying the foundation and Misha carrying the operation forward. The next real test for the company will be whether that same stability holds if leadership passes to a third generation down the line, but that question is still years away from having an answer.
FAQ
Who founded GL Homes? Itzhak Ezratti founded GL Homes in 1976, along with his father-in-law, Joseph Hanin. Their first project was a duplex in Hollywood, Florida.
Who runs GL Homes now? Misha Ezratti, Itzhak’s son, has served as President and CEO since 2016. Itzhak remains chairman of the company.
How many homes has GL Homes built? GL Homes has built more than 36,000 homes, with over 100,000 residents living across its communities in Florida.
What is Itzhak Ezratti’s net worth? Forbes estimates his net worth at around $1.9 billion, tied mainly to his ownership stake in GL Homes.
Next Step
If you are researching Florida homebuilders for a move or an investment, look at GL Homes’ current active communities and compare them against build timelines and HOA details before you decide. That practical step matters more than any founder trivia.
