Early Life and Education
Bruce E. Toll was born on April 29, 1943, and grew up in Elkins Park, Pennsylvania. He is the son of Sylvia and Albert Toll. His father, a millionaire investor, lost his wealth in the 1929 stock market crash. In 1965, Toll graduated with a B.A. from the University of Miami.
Rise to Success
In 1967, Bruce and his brother Robert I. Toll founded Toll Brothers with a focus on building luxury homes. The first project was in Chester County, Pennsylvania. Bruce was responsible for bookkeeping, while Robert handled the legal aspects. The company expanded throughout the Northeast in the late 1980s, and to California in the mid-1990s. Toll Brothers became a leader in luxury homebuilding, and they took the company public in 1986.
Key Business Strategies
Toll Brothers used a conservative financial model, always including a 10% expense cushion in project cost estimates, not assuming price appreciation during construction, and using conservative sales estimates. Bruce was instrumental in the financial management, which contributed significantly to the company's growth and success. Toll Brothers also expanded into building active-adult communities and urban high-rises.
Philanthropy
Bruce Toll is involved in philanthropy and serves on the boards of several organizations, including the Home Builders Association of Bucks and Montgomery Counties, the Ben Franklin Technology Center of Southeastern Pennsylvania, Abington Memorial Hospital, and the Philadelphia Museum of Art. He has donated to the Republican party.
