Prominent Armenian-American businessman and benefactor, Chairman of he Board of Trustees of Hayastan All-Armenian Fund Hirair Hovnanian has died aged 91.

Details about the causes of Hovnanian's death weren’t immediately available.

A successful businessman, Hovnanian founded Hovnanian Enterprises in 1959, which still remains one of the largest American homebuilders.

Hovnanian left a number of philanthropic contributions during his life, especially in support of Armenia and the Armenian diaspora. He made large donations, constructed homes for earthquake victims and contributed to the needs of the Armenian communities abroad. According to Hovnanian Foundation, along with his contributions of time, his charitable contributions exceeded $40 million.