Eli Broad

Eli Broad, a prominent developer known for founding two Fortune 500 companies, SunAmerica and KB Homes (originally Kaufman Broad Homes), has been a transformative figure in philanthropy, particularly in the fields of education and the arts. Residing in Los Angeles, Broad is not only a business luminary but also an active participant in initiatives aimed at revitalizing the city’s downtown area.

In 1999, Broad and his wife, Edythe, founded The Broad Education Foundation, committing over $500 million to foster new ideas and innovative leadership in urban school systems. A key component of this foundation is the Broad Prize for Urban Education, which awards $1 million annually to high-performing urban school districts, demonstrating the Broads’ commitment to improving educational outcomes in urban areas.

The Broads’ philanthropy in the arts is equally notable. Since 1984, the Broad Art Foundation has operated as a unique art lending library, making the Broad Art Collection accessible to over 400 museums and university galleries worldwide. This initiative reflects their dedication to sharing art with a broad audience. In addition, the Broads have made significant contributions to the arts, including a substantial gift to fund the construction of the Broad Art Museum, further cementing their legacy in the art world.

Eli Broad’s alma mater, Michigan State University, has also benefited from his generosity, with the establishment of the Eli Broad College of Business. This endowment reflects his commitment to higher education and his belief in the power of business education to prepare future leaders.

Other educational institutions have similarly benefitted from the Broads’ philanthropy. Notably, their $100 million donation to the Massachusetts Institute of Technology (MIT) and Harvard University led to the creation of the Broad Institute. This contribution underscores their support for innovative research and collaboration in the fields of biomedical and genomic research.

Beyond these contributions, the Broads have been involved in various other philanthropic endeavors. They have supported health care initiatives, including funding for research and facilities aimed at improving public health and combating diseases. Their commitment to community development has also been evident in their support for various civic projects in Los Angeles and beyond, aiming to enhance urban life and promote cultural engagement.

In summary, Eli Broad’s philanthropic efforts span a wide range of sectors, with a particular focus on education, the arts, and urban revitalization. His contributions have had a substantial impact on these areas, reflecting a deep commitment to leveraging his resources for the public good and leaving a lasting legacy in various fields.