Eli Broad founded the real estate development company Kaufman & Broad (KB Home) and the financial company SunAmerica. He is also well known for his extensive art collection that he lends out to museums and galleries for public viewing through the Broad Art Foundation. Broad and his wife also maintain the Broad Education Foundation to help support and improve public education in urban communities. Eli Broad was born on June 6, 1933 in Detroit Michigan and, after attending grade school, completed his undergraduate degree at Michigan State University and graduated cum laude in 1954. Three years later he helped create the real estate builder Kaufman & Broad, better known as KB Homes. It became the first publicly traded “home builder” company on the New York Stock Exchange (NYSE). Broad made millions off of his company and began looking at other ventures as a result. Broad also founded SunAmerica for which he acted as the CEO until 2000. Eli and his wife, Edythe Broad, began an extensive art collection and created the Broad Art Foundation to help support the efforts in spreading art education. In 1984 they began lending out portions of their collection to over 400 museums and university galleries around the world. Within six years, Eli Broad and his wife created the Broad Education Foundation for the purpose of supporting and improving public education in urban communities. In the first five years of operation, the Broad Education Foundation gave over $500 million in support of innovative leadership in urban school systems and another $100 million to create the Broad Institute of MIT for use in biomedical research. The foundation also gave money to Harvard and the Whitehead Institute in support of similar goals.As an advocate of Los Angeles, Eli Broad has committed both time and money to renovating and reviving his beloved city. Not only has he partnered with the Mayor to beautify specific areas of the city, he also helped to fund the Walt Disney Concert Hall designed by the legendary Frank Gehry. In 2004, the U.S. Congress and the President of the United States appointed Eli Broad to the Board of Regents of the Smithsonian Institution. Besides holding a degree from Michigan State University, Broad also holds an Honorary Doctor of Humanities Degree from Michigan State University and another Honorary Doctor of Laws Degree from Southwestern University.
Broad was previously a member of Think Long California.