Eli Broad, a businessman and entrepreneur, is known for founding SunAmerica and KB Home, Fortune 500 companies in various industries. He is also recognized as a philanthropist. As of late 2016, Eli Broad is estimated to have a net worth of $7.5 billion, making him the 65th richest man in the USA. His wealth has been accumulated through his successful involvement in the business industry and the sales of his book “The Art Of Being Unreasonable: Lessons In Unconventional Thinking” (2012).
Born on June 6, 1933, in The Bronx, New York City, Eli Broad comes from a modest family background. He attended Detroit Public Schools and graduated cum laude in 1954 from Michigan State University with a major in Accounting and a minor in Economics. Throughout his career, he established his own accounting company and worked at Donald Kaufman’s real estate company. In 1957, Eli and Donald founded the home building company Kaufman & Broad (KB Home), which achieved significant success over the years, contributing substantially to Eli’s net worth.
In 1971, Eli founded Sun Life Insurance Company of America, later transformed into SunAmerica, which he sold to American International Group (AIG) in 1999 for $18 billion, further increasing his fortune. Eli’s philanthropic efforts have also been recognized, and he has received prestigious awards for his contributions.
Eli Broad and his wife have founded the Eli Broad Foundations, an organization dedicated to spreading science and art education. Their philanthropic endeavors include donating to projects such as the Los Angeles County Museum of Art (LACMA) and The Broad Institute of MIT. They also established the $1 million Broad Prize for Urban Education, with the organization’s center based in Los Angeles, California.
Eli Broad is married to Edythe E. Lawson, and they have two sons. His contributions to philanthropy and business have solidified his legacy as a prominent figure in both realms.
