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Eli Broad and wife Edythe Broad in 2009.
Eli Broad, Los Angeles Philanthropist With Art Trove, Dies at 87 Broad built a fortune of more than $7 billion from two companies, Kaufman & Broad, the first homebuilder to trade on the New York Stock Exchange, and SunAmerica, one of the largest U.S. annuity providers.
Christopher Palmeri | May 03, 2021
(Bloomberg) Eli Broad, the billionaire businessman who founded two Fortune 500 companies in different industries before becoming one of America’s most prominent philanthropists and art collectors, has died. He was 87.
Broad died Friday afternoon at the Cedars-Sinai Medical Center in Los Angeles following a long illness, said Suzi Emmerling, a spokeswoman for the Eli and Edythe Broad Foundation.
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Robert Meyerhoff, a Maryland real-estate developer, and his wife, Jane, promised last year to bequeath their $300 million collection of more than 100 modern art works to Washington’s National Gallery of Art.
Irwin Jacobs, chairman and chief executive officer of the San Diego wireless company Qualcomm, and his wife, Joan, pledged $110 million to the University of California-San Diego’s Jacobs School of Engineering, which bears their name.
These Jewish couples were among dozens of philanthropists such as McDonald’s heiress Joan Kroc who gave the most generous donations to charities in 2003, according to a new Chronicle of Philanthropy report.
They also signal the continuation of a longtime trend, where the biggest “mega-gifts” from Jews go to non-Jewish causes.
Los Angeles Philanthropist Eli Broad Has Died
Eli Broad gave billions both personally and through his foundations.
Eli Broad, the respected and sometimes controversial Los Angeles philanthropist, died on Friday. He was 87. Known for being generous but also sharp-elbowed in his philanthropy, Broad and his wife, Edythe, gave nearly $2.5 billion from 2000 to 2013 to their Broad Foundations and other nonprofits, according to a Chronicle tally. In recent years, the couple gave significant sums to charity through their nearly $2 billion Broad Foundations, which houses the Eli and Edythe Broad Foundation and the Broad Art Foundation .
Broad built what is now a nearly $7 billion fortune through his KB Home homebuilding company and SunAmerica, a financial-services company that he sold to AIG for $18 billion in 1998. He then went on to devote most of his time to the couple’s philanthropy, giving primarily to education, science, and the arts.
Caltech Mourns the Loss of Eli Broad, 1933–2021 May 01, 2021
Eli Broad, founder of SunAmerica Inc. and KB Home, former member of the Caltech Board of Trustees, and a Life Member of the Caltech community passed away on April 30, 2021. He was 87 years old.
An entrepreneur, civic leader, and philanthropist who earned distinction as a patron of Los Angeles, Broad was an influential advocate for and generous benefactor of life sciences research, public education, and the arts. Throughout his life, he worked to create and foster new businesses, education organizations, scientific research institutions, and museums.
At Caltech, Broad s commitment was most evident through his enduring leadership on the Caltech Board of Trustees and his longstanding and continued investments in the Institute. In partnership with his wife Edythe, Broad donated more than $40 million to the biological sciences at Caltech through the Eli and Edythe Broad Foundation. Their generosity helped to establ