Ara K. Hovnanian

Ara K. Hovnanian

Homebuilder
What he does: chairman, president, and CEO, Hovnanian Enterprises
In position since: 1997
Why he is powerful: Hovnanian Enterprises, in Red Bank, N.J., is one of the country’s biggest homebuilders with a market capitalization in mid-March of $341.6 million, according to Bloomberg data. It was founded in 1959 by Ara's father, Kevork Hovnanian, and Ara joined the company in 1979. In the latest quarterly report, the CEO states: "Although we remain cautiously optimistic, several headwinds such as persistently high unemployment levels, the expiration of the federal home buyers tax credit, and the threat of more foreclosures continue to hinder a sustainable recovery in the housing market."