May 17 (Reuters) - Homebuilder D.R. Horton said

on Friday its founder and chairman Donald Horton has died at the

age of 74.

The company said Horton had passed away suddenly. It did not

give a cause of death.

Horton founded the company in Fort Worth, Texas in 1978 and

played a key role in the company's rapid expansion into one of

the largest homebuilders in the United States, including its

market debut in 1992.

He had been chairman of the company since it officially

became D.R. Horton Inc ( DHI ) in 1991, and also held the roles of

president and CEO until 1998.

Horton had studied to be a pharmacist at Oklahoma

University, but joined his father's real estate brokerage before

founding D.R. Horton ( DHI ), according to Forbes. He is survived by his

wife Marty and sons Ryan and Reagan, and his four grandchildren.

The company, which currently has operations in 119 markets

in 33 states across the country, said the board has appointed

executive vice chairman David Auld to serve as chairman,

effective immediately.