Eli Broad, Billionaire Philanthropist, Dies at 87
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Eli Broad, the successful business leader who later help transform the arts, culture and architecture of Los Angeles, died Friday afternoon at 87.
The Eli and Edythe Broad Foundation, where Broad and his wife Edye have served as full-time philanthropists since 1999, announced Broad’s death.
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Broad amassed his wealth by creating two successful businesses: Kaufman and Broad Home Corporation, which Broad founded in 1957 at age 23 in Detroit, and later turned a life insurance company that he bought into SunAmerica. He bought the company for $52 million in the 1970s and sold it to AIG for $18 billion in 1999.