SunAmerica, Inc., the immense retirement savings company, was founded by Eli Broad, also the co-founder of KB Home (Kaufman & Broad Home), one of the United States’ largest home builders and the first to trade on the New York stock exchange. The Bronx-born businessman, one of Lithuanian descent, graduated cum laude in accountancy from Detroit’s Michigan State University in 1954.
Michigan’s youngest CPA ever, Eli Broad borrowed $25,000 to jointly found Kaufman & Broad, which erected and sold low-priced homes without basements. With $65 million, he purchased Sun Life Insurance in 1971 and turned it into much larger insurance company SunAmerica. AIG took over the company in 1998 for $18 billion and Eli Broad and wife have since devoted themselves to venture philanthropy, via The Broad Foundations. With assets of over $2.5 billion, The Broad Foundations encompasses The Broad Art Foundation, founded 1984, and The Broad Education Foundation, founded 1999. Eli Broad, a Carnegie medalist for philanthropy, is an insatiable art collector, whose assets include the world’s biggest Jeff Koons collection.
With a net worth estimated at $6.7 billion, Eli Broad is ranked by Forbes as the 48th richest US citizen.
The portal to The Broad Foundations in education, science, arts, and civic initiatives.
This Los Angeles-based magazine features Eli Broad, who is committed to enriching the LA art scene.
This New York Times article states Eli Broad’s intention to put up another contemporary art institution in Los Angeles to house his vast collection.
Honoring him for philanthropy in the arts, Americans for the Arts features the background of businessman Eli Broad.
The Los Angeles Times profiles the life of Eli Broad, the billionaire philanthropist and art collector.
The New York Times chronicles Eli and Edythe Broad’s biggest donation yet: a $400 million donation to the Broad Institute at M.I.T. and Harvard.