Eli Broad
Los Angeles, California
Bachelor of Arts/Science, Michigan State University | Broad College of Business
United States
9
investments, Self Made
$6,700,000,000
224
5
#233 Billionaires 2019
#78 Forbes 400 2018
Eli Broad bought his first real estate at age 20 and cofounded home builder Kaufman & Broad in 1957 with $25,000 borrowed from his in-laws.KB Homes became one of the nation's biggest home builders, supplying parents of baby boomers with affordable housing.He later bought Sun Life Insurance, transforming it into annuities giant SunAmerica, before selling it to AIG for $18 billion in stock in 1998.The Broads' foundations, which have $3 billion in assets, support medical research, public education (charter schools) and Los Angeles civic projects.The L.A. art museum opened by Broad and his wife Edythe in 2015 offers free admission to view works from the couple's contemporary art collection.
The son of Lithuanian immigrants, Broad paid his own tuition at Michigan State by driving delivery trucks and selling garbage disposals door-to-door. Broad gives away millions each year in scholarships to high school seniors in needy urban areas.
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