Eli Broad Net Worth and Bio: Insights into the Life and Fortune of a Business Magnate

Eli Broad is a name that rings a bell in the worlds of philanthropy and business. With a net worth of $6.7 billion, the American entrepreneur, investor, and philanthropist has stamped his name in the sands of time. He is renowned for his knack for building companies, solving complex problems, and making significant contributions to society through his philanthropic works.

Eli Broad's career spans over five decades, during which he has made significant strides in different sectors of the economy. He has founded multiple businesses, including two Fortune 500 companies, SunAmerica and KB Home. Eli Broad has also made a name for himself as a philanthropist, having donated more than $4 billion to various causes in education, science, and the arts.

This article delves into Eli Broad's net worth, bio, and achievements. It is a testament to the man's life and accomplishments and an insight into how successful men can use their wealth to contribute to the betterment of society.

Eli Broad: Net Worth, Age, Born, Gender, Height, Country of Origin, Source of Wealth

Eli Broad is one of the wealthiest individuals in the world, with his net worth estimated at over $7 billion. Born in 1933, he is currently in his late 80s and has made his fortune through various business ventures in the United States.

Broad was born in New York City and grew up in the Bronx. He attended college at Michigan State University and then went on to earn his master's degree in accounting from the University of California, Los Angeles.

In terms of gender, Eli Broad is a male. He stands at a height of 5'11". Broad's country of origin is the United States, where he has lived and worked for most of his life.

Broad's source of wealth comes primarily from the business world. He co-founded the homebuilder Kaufman & Broad, which later became KB Home. He also served as the CEO of SunAmerica, a financial services company that was sold to AIG for $18 billion in 1999. Additionally, Broad is known for his philanthropy and has donated millions of dollars to various causes throughout the years.

Key Facts

Eli Broad is an American entrepreneur, philanthropist, and art collector.

Net worth: According to Forbes, his net worth in 2021 is estimated at $6.9 billion.

Early career: Eli Broad started his career as an accountant and worked his way up to become a successful businessman.

Founding companies: He is the founder of two Fortune 500 companies, SunAmerica and KB Home.

Philanthropy: Broad has donated billions of dollars to various causes, including education, scientific research, and the arts. He has also created several philanthropic organizations to support these causes.

Art collecting: Broad is known for his extensive collection of contemporary art, which includes works by artists such as Jean-Michel Basquiat, Jeff Koons, and Cindy Sherman.

Education: Broad has been a strong advocate for education reform, and has founded several organizations dedicated to improving public education in the United States.

Early Life

Childhood and Education

Eli Broad was born on June 6th, 1933, in the Bronx, New York City. He grew up in a middle-class Jewish family and attended the prestigious Bronx High School of Science. After high school, he went on to study at Michigan State University, where he earned a bachelor's degree in accounting.

Career Beginnings

After graduation, Broad began his career as an accountant for the Arthur Andersen accounting firm in Detroit. He eventually became a partner in the firm and worked there for over a decade. However, he was always interested in entrepreneurship and eventually left the firm to start his own businesses.

First Business Ventures

Broad's first foray into business was with the company Kaufman and Broad Home Corporation, which he founded with a friend in 1957. The company focused on building affordable homes for middle-class families and quickly became successful. After a decade, Broad decided to move on and sold his share of the company, which later became KB Home.

Following this, Broad began investing in real estate development projects across the country. He also founded SunAmerica Inc., a financial services company that focused on selling annuities and retirement plans. The company was extremely successful and was eventually sold to AIG for $18 billion.

Career

Early Work

Eli Broad began his career in the 1950s as an accountant at a firm in Detroit. He eventually started his own accounting company and then moved into the homebuilding industry, founding Kaufman and Broad Home Corporation with Donald Kaufman in 1957.

The Art World

In the 1970s, Broad began collecting art and became an avid supporter of the arts. He served on the board of the Museum of Contemporary Art in Los Angeles and the Los Angeles County Museum of Art. In 2015, he opened The Broad, a contemporary art museum in downtown Los Angeles.

Philanthropy

Broad is a major philanthropist and has donated billions of dollars to various causes. He is known for his focus on education, science, and the arts. In 1991, he established The Eli and Edythe Broad Foundation, which supports education initiatives and medical research. In 2010, he signed The Giving Pledge, committing to donate the majority of his wealth to charity.

Business Ventures

Aside from his work in homebuilding, Broad has also been involved in various other business ventures, including co-founding SunAmerica Inc., a financial services company that was sold to AIG for $18 billion in 1999. He also launched KB Home, another homebuilding company, in 1957.

Eli Broad's Spending Habits

Eli Broad may be worth billions of dollars, but he is known for living a relatively modest lifestyle. While he does indulge in some luxuries, such as a private jet and a yacht, he also donates a large portion of his wealth to philanthropic causes.

One of Broad's largest donations was $400 million to create the Broad Institute of MIT and Harvard, which focuses on biomedical research. He has also given millions to education initiatives, including the Eli and Edythe Broad Foundation, which has donated over $800 million to support K-12 public education in the United States.

Beyond his philanthropy, Broad has also invested in art. He and his wife have a large collection of contemporary art, which they display in their homes and museums. In 2014, they opened the Broad Museum in Los Angeles, which features over 2,000 works of contemporary art.

• Private jet
• Yacht
• Philanthropic giving
• Investment in art

Despite his wealth, Broad is known for his frugality. He has said in interviews that he drives a Toyota Avalon and prefers to stay in mid-priced hotels. He also avoids extravagant spending on personal items, such as clothing and jewelry.

Overall, Eli Broad is a prominent figure in both the business and philanthropic world, known for his wise investments and his dedication to giving back to society.

Eli Broad: Highlights

Philanthropy

• Eli Broad has donated millions of dollars to various causes, including education, medical research, and the arts.
• The Eli and Edythe Broad Foundation has donated over $4 billion to support education, science, and the arts.
• The Broad Institute, a joint research institute between Harvard University and the Massachusetts Institute of Technology, was established with a $100 million donation from Eli Broad and his wife.

Entrepreneurship

• Eli Broad is a successful businessman who co-founded the construction firm KB Home and the investment firm SunAmerica.
• He has been listed among the Forbes 400 richest Americans and Forbes Billionaires List.
• Eli Broad has also authored two books on entrepreneurship and management.

Arts and Culture

• Eli Broad is known for his passion for the arts and has been a major patron of numerous museums, including the Los Angeles County Museum of Art and the Museum of Contemporary Art, Los Angeles.
• He has also donated art to various institutions, including the Sistine Chapel in Vatican City.
• The Eli and Edythe Broad Art Museum at Michigan State University is named in honor of Eli and his wife's contributions to the arts.

Favorite Quotes from Eli Broad

"I've always believed in the power of education."

Eli Broad firmly believes that education is the most important investment we can make. He understands that it has the power to transform lives and communities.

"I'm a firm believer that philanthropy is not just about giving money but also giving your time."

According to Eli Broad, philanthropy is not just about writing checks. It's about actively getting involved and contributing your time and expertise as well.

"The arts teach kids problem-solving and critical thinking skills, teamwork and perseverance."

Eli Broad believes that the arts are essential to a child's education. He understands that they can teach valuable skills beyond just creativity and self-expression.

• "I'm a strong believer that every city needs a vibrant downtown."
• "Diversity is a strength, and we need it to be valued and celebrated in our schools, workplaces, and communities."

"I believe that government has a role to play, but corporations do too, and individuals do too."

Eli Broad believes in a collaborative effort when it comes to creating change. He understands that multiple parties need to come together to make a real difference.

Success Lessons from Self-Made Billionaire Eli Broad

Focus on Innovation and Disruption

Eli Broad, known as the "King of Downtown" for his real estate and philanthropic contributions to downtown Los Angeles, is also a successful businessman who built two Fortune 500 companies from scratch. His success can be attributed to his focus on innovation and disruption. He believes that in order to succeed, one must always seek out new ideas and be willing to take risks.

• Lesson: Don't be afraid to disrupt the status quo. Look for new ways to innovate and improve.

Invest in Yourself

As a self-made billionaire, Eli Broad knows the importance of investing in oneself. He believes that education and continuous learning are key to personal and professional growth. He also stresses the importance of taking care of oneself, both physically and mentally, in order to achieve success.

• Lesson: Invest in yourself through education, personal development, and self-care.

Build Strong Relationships

Eli Broad understands the power of relationships and the value of networking. He believes that it's not only important to build strong relationships with business partners and clients, but also with family and friends. He credits his success, in part, to his ability to cultivate meaningful relationships.

• Lesson: Invest time and effort into building strong relationships in both your personal and professional life.

Give Back to the Community

Eli Broad is a firm believer in giving back to the community. He has donated millions of dollars to various causes, including education and the arts. He believes that successful individuals have a responsibility to give back and make a positive impact on the world.

• Lesson: Remember to give back to your community and make a positive impact in the world.

Interesting and Surprising Facts About Eli Broad

Eli Broad was born in the Bronx, New York, in 1933. He began his career as a CPA but eventually found his way into entrepreneurship and philanthropy. Here are some interesting and surprising facts about Eli Broad:

• He is one of the wealthiest individuals in the United States, with a net worth of over $6 billion.
• He is a self-made billionaire, having founded two Fortune 500 companies: KB Home and SunAmerica Inc.
• His foundation, The Broad Foundation, focuses on improving public education and supporting contemporary art. The foundation has given over $4 billion in grants since its creation in 1999.
• He is a supporter of the Democratic Party but has also donated to Republican candidates, including Mitt Romney's 2012 presidential campaign.
• He is an avid collector of contemporary art, with a collection that includes works by artists such as Jeff Koons, Roy Lichtenstein, and Cindy Sherman.
• He is passionate about architecture and urban planning, and has funded projects such as the Broad Museum in Los Angeles and the Grand Avenue Project, which aims to revitalize downtown Los Angeles with new residential and commercial buildings.
• He has written two books about his experiences in business and philanthropy: "The Art of Being Unreasonable: Lessons in Unconventional Thinking" and "The Billionaire's Apprentice: The Rise of The Indian-American Elite and The Fall of The Galleon Hedge Fund".

Despite his immense wealth, Eli Broad remains committed to giving back to his community and making a positive impact on the world through his philanthropic endeavors.

Eli Broad's Life in Summary

Who is Eli Broad?

Eli Broad is an American entrepreneur and philanthropist with a career spanning more than sixty years. Born in 1933 in the Bronx, New York, Broad began his career in public accounting before transitioning to real estate development. He went on to found two Fortune 500 companies and is widely known for his contributions to education, the arts, and public health.

Career Highlights

After leaving public accounting, Broad began investing in residential real estate. In the 1970s, he founded Kaufman and Broad Home Corporation, which became one of the largest homebuilders in the United States.

In the 1980s, Broad founded SunAmerica, which sold retirement savings and insurance products. The company quickly became one of the fastest-growing insurers in the country and was eventually sold to AIG for $18 billion.

Throughout his career, Broad has been committed to philanthropy and his contributions have been wide-ranging. He has given generously to education, supporting initiatives such as charter schools and stem cell research. In the arts, Broad has been a major patron, helping to fund the construction of the Walt Disney Concert Hall in Los Angeles and founding the Broad Museum, which exhibits contemporary art in downtown LA.

Net Worth

Eli Broad has a net worth of around $6.9 billion, making him one of the wealthiest individuals in the United States. His fortune has been built over a long career in business, and he has pledged to give at least 75% of his wealth to philanthropy over the course of his life.

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