Eli Broad (born June 6, 1933) is a billionaire who lives in Los Angeles, California. His last name is pronounced as rhyming with road.Broad is well known for his philanthropy and extensive art collection. A strong advocate of the city, he is actively involved in the on-going effort to revitalize downtown Los Angeles.

Broad made his initial fortune in real estate at his company Kaufmann & Broad (now KB Home). He is also a founder of the financial giant SunAmerica. He was CEO of SunAmerica, now a subsidiary of the American International Group, until the year 2000.
Philanthropy

In 1991, Broad endowed the Eli Broad College of Business at his alma mater Michigan State University, from which he graduaged cum laude in 1954.The Broad Institute of MIT and Harvard was founded with a $100 million donation to MIT from Broad and his wife, Edythe, in 2003. In 2005, the couple donated another $100 million through Harvard.Eli and Edythe Broad are the founders of The Broad Foundation, which states as its mission "to dramatically improve K-12 urban public education through better governance, management, labor relations and competition."

He is also a member of the California Institute of Technology Board of Trustees, and endowed the Broad Center there.

Trivia

aIn November of 1994, Broad purchased Roy Lichtenstein's "I...I'm Sorry" for $2.5 million USD at a Sotheby's auction, paid with his American Express credit card, and thereby earned 2.5 million frequent flyer miles.