Eli Broad

Date of Birth: June 6, 1933

Zodiac Sign: Gemini

Date of Death: April 30, 2021

Biography

Eli Broad was an American businessman and philanthropist, widely recognized for his significant contributions to the fields of real estate and insurance, as well as his extensive philanthropic efforts in education, science, and the arts. Born on June 6, 1933, in the Bronx, New York, and raised in Detroit, Michigan, Broad graduated from Michigan State University in 1954 with a degree in accounting. In 1957, Broad co-founded Kaufman & Broad (later KB Home), which became one of the nation’s largest homebuilders. He later acquired Sun Life Insurance Company of America, transforming it into the financial services giant SunAmerica, which he sold to American International Group (AIG) in 1998 for $18 billion. Broad and his wife, Edythe, established The Broad Foundations, which have donated billions to support public education, scientific and medical research, and the visual and performing arts. The couple also founded The Broad, a contemporary art museum in Los Angeles. Eli Broad passed away on April 30, 2021, leaving behind a legacy of transformative impact on various sectors.

5 Interesting Facts about Eli Broad

1. Eli Broad was the first person to build two Fortune 500 companies in different industries.

2. He was a significant patron of the arts, with a personal collection that included over 2,000 pieces of contemporary art.

3. Broad was instrumental in the founding of the Los Angeles Museum of Contemporary Art (MOCA).

4. He was a major supporter of stem cell research, contributing to the establishment of the Eli and Edythe Broad Center of Regenerative Medicine and Stem Cell Research at UCLA.

5. Broad was known for his “venture philanthropy,” applying business principles to his charitable activities to maximize impact.

5 Most Interesting Quotes from Eli Broad

1. “The inability to delegate is one of the biggest problems I see with managers at all levels.”

2. “The American dream is still alive out there, and hard work will get you there. You don’t necessarily need to have an Ivy League education or to have millions of dollars startup money. It can be done with an idea, hard work, and determination.”

3. “Without the arts, there is no culture. Without culture, there’s no society.”

4. “A philanthropist should take risks and be willing to fail.”

5. “You can’t achieve great things without taking risks.”