Robert I. Toll

Robert I. Toll
Born	(1940-12-30) 30 December 1940 Philadelphia, Pennsylvania, U.S.
Died	7 October 2022(2022-10-07) (aged 81) New York City, New York, U.S.
Occupation(s)	Entrepreneur, real estate developer
Known for	Co-founder of Toll Brothers

Robert Irwin Toll (December 30, 1940 – October 7, 2022) was an American entrepreneur and co-founder of the upscale homebuilding company Toll Brothers.

Biography

Toll was born into a Jewish family in Philadelphia, the son of Sylvia (née Steinberg) and Albert Toll, a Ukrainian immigrant and investor who suffered financial losses during the 1929 stock market crash. He grew up in Elkins Park, Pennsylvania and completed his undergraduate studies at Cornell University, earning a B.A. in 1963. He then obtained an LL.B., graduating cum laude, from University of Pennsylvania Law School in 1966.

In 1967, Robert teamed up with his brother Bruce E. Toll to establish Toll Brothers, specializing in luxury residences with prices starting above $500,000. Their initial project involved a land parcel in Chester County, Pennsylvania that was provided by their father. The firm adopted a cautious financial approach, maintaining a 10% contingency on projects and avoiding any assumptions of price increases during construction. While Bruce handled the accounting side, Robert took charge of legal matters.

During the late 1980s, Toll Brothers extended its reach beyond the Northeast, entering the Washington, D.C. market and expanding further into California by the mid-1990s. The company became a leader in producing luxury homes on a large scale by replicating a limited number of standardized designs. Subsequently, it diversified into “active-adult” communities targeting wealthy seniors and launched urban high-rise developments under its Toll Brothers City Living division.

Robert Toll resigned as CEO in 2010 but continued to participate in executive management. In 2013, the acquisition of Shapell Homes for $1.6 billion bolstered Toll Brothers’ position within the luxury homebuilding sector.

Philanthropy and accolades

In 1990, the Toll family sponsored 58 third-grade students through the Say Yes to Education initiative, ensuring their college funding. Robert Toll contributed to several boards including the Cornell Real Estate Council, the Metropolitan Opera, Seeds of Peace, and Beth Shalom Synagogue located in Elkins Park. He was also a dedicated fundraiser for both the American Red Cross and the American Cancer Society.

As part of his political engagement, Toll served on the Democratic National Finance Committee during President Obama’s campaign. His affiliations included membership on the Board of Overseers at the University of Pennsylvania Law School and trusteeship at the University of Pennsylvania, where he created the Albert & Sylvia Toll Scholarship Foundation to honor his parents. Among his professional honors, he was recognized as CEO of the Year by Professional Builder Magazine in 2005 and received "Best CEO in the Homebuilders & Building Products industry" awards from Institutional Investor magazine consecutively in 2007, 2008, and 2009.

Personal life and death

Toll was married twice over his lifetime. In 1975, he wed his second wife, Jane (née Snyder Goldfein), with whom he resided in Miami Beach, Florida. Jane brought one son from her previous marriage; Robert had two daughters from his first marriage; together they had a son and daughter. By March 2018, his net worth was estimated at approximately $1 billion.

He passed away on October 7, 2022, in New York City at age 81 due to complications related to Parkinson’s disease.