PulteGroup, the third-largest homebuilder in the US, has had a contentious relationship with its founding family in the past. In 2016, Pulte's grandfather – who founded the company as a teenager in 1950 – pushed for the removal of then-Chief Executive Officer Richard Dugas, arguing that the executive's aggressive land purchases had exacerbated the impact of an earlier housing market crash. The battle eventually lured in famed activist investor Elliott Investment Management.