Berggruen Institute on Governance | Eli Broad
Eli Broad founded the real estate development company Kaufman & Broad (KB Home) and the financial company SunAmerica.
HeÂ is also well known for his
extensive art collection that he
lends out to museums and galleries for public viewing throughÂ the Broad Art Foundation
Broad and his wife also maintain the Broad Education Foundation to help support and improve publicÂ education in urban communities.Â Eli Broad was born on June 6, 1933 in Detroit Michigan and, after attending grade school, completed his undergraduateÂ degree at Michigan State University and graduated cum laude in 1954.
Three years later he helped create the realÂ estate builder Kaufman & Broad, better known as KB Homes.
It became the first publicly traded "home builder" company onÂ the New York Stock Exchange
Broad made millions off of his
company and began looking at other ventures as a result.Â Broad also founded SunAmerica
for which he
acted as the CEO until 2000.Â Eli
wife, Edythe Broad, began an extensive art collection and created the Broad Art Foundation
to help supportÂ the efforts in spreading art education.
In 1984 they began lending out portions of their collection to over 400 museums andÂ university galleries around the world.
Within six years, Eli Broad
wife created the Broad Education FoundationÂ for the purpose of supporting and improving public education in urban communities.
In the first five years of operation,Â the Broad Education Foundation
gave over $500 million in support of innovative leadership in urban school systems andÂ another $100 million to create the Broad Institute of MIT
for use in biomedical research.
The foundation also gave moneyÂ to Harvard
and the Whitehead Institute
in support of similar goals.
s an advocate of Los Angeles, Eli Broad
has committed both time and money to renovating and reviving his
NotÂ only has he
partnered with the Mayor to beautify specific areas of the city, he
also helped to fund the Walt DisneyÂ Concert Hall designed by the legendary Frank Gehry.
In 2004, the U.S. Congress and the President of the United StatesÂ appointed Eli Broad to the Board of Regents of the Smithsonian Institution.Â Besides holding a degree from Michigan State University, Broad also holds an Honorary Doctor of Humanities Degree fromÂ Michigan State University and another Honorary Doctor of Laws Degree from Southwestern University.