Eli Broad
Eli Broad
#### Full Name and Common Aliases
Eli Broad is a renowned American entrepreneur, philanthropist, and former finance executive.
#### Birth and Death Dates
Born on June 6, 1933, in New York City. Still active and alive as of writing.
#### Nationality and Profession(s)
American, businessman, and investor with expertise in real estate development, venture capital, and philanthropy.
#### Early Life and Background
Growing up in the Bronx, Eli Broad was raised by his parents, Harry and Josephine, who instilled in him a strong work ethic. After dropping out of high school at 14 to work as an office boy for a printing company, he began attending night classes to earn his high school diploma. Following World War II, he served briefly in the United States Army before beginning his career in finance.
Major Accomplishments
Eli Broad's extensive business experience spans over five decades. He co-founded two prominent companies: Kaufman & Broad Home Corporation (now KB Home) and SunAmerica Inc. His leadership at Kaufman & Broad transformed it into one of the largest homebuilders in the United States, with operations across North America.
In 1999, Eli sold SunAmerica to AIG for $18 billion, marking his second significant exit as a founder. This deal cemented his reputation as a shrewd and successful businessman.
Notable Works or Actions
Throughout his career, Broad has been actively involved in various philanthropic endeavors. In 2006, he and his wife, Edythe, donated $100 million to the Museum of Contemporary Art (MOCA) in Los Angeles, helping establish it as a leading contemporary art institution.
Their efforts also led to significant upgrades at the Los Angeles County Museum of Art (LACMA), including the construction of the Broad Contemporary building. The Broad, his contemporary art museum in downtown LA, opened in 2015 and has since become an iconic cultural landmark.
Impact and Legacy
Eli Broad's business acumen and philanthropic efforts have left a lasting impact on American society. His entrepreneurial spirit and innovative approach to finance and real estate development have inspired numerous entrepreneurs and investors.
As a dedicated philanthropist, his contributions have transformed the cultural landscape of Los Angeles, enriching its museums and communities through world-class art exhibitions and educational programs.
Why They Are Widely Quoted or Remembered
Eli Broad's influence extends far beyond his impressive business record. His commitment to using his wealth and expertise for social good has raised awareness about the potential for philanthropy to drive meaningful change in society.
Through his quotes and reflections on entrepreneurship, philanthropy, and art, Eli Broad continues to inspire new generations of leaders and artists, cementing his legacy as a visionary entrepreneur, dedicated philanthropist, and passionate advocate for arts education.
Quotes by Eli Broad
Eli Broad's insights on:
If someone can’t give me a good reason why you can’t do something, I find a way to do it.
People always say congratulations. When you’re a successful bidder it means you’re willing to spend more money than anyone else. I’m not sure if that’s congratulations or condolences.
Collectors become obsessive and then addicted. You become addicted to art and you can’t live without it.
I’d be bored to death if I spent all my time with other businesspeople, bankers and lawyers.
There is no substitute for knowledge. To this day, I read three newspapers a day. It is impossible to read a paper without being exposed to ideas. And ideas – more than money – are the real currency for success.
If people want to criticize me because it sells papers, that’s fine. I just don’t like it when it’s inaccurate.
Time is the most valuable thing you have – and I’m not just talking about the minutes for which you’re paid.
Every artist is unreasonable, because he or she is doing something that hasn’t been done before.
I learned to embrace risk, as long as it was well thought out and, in a worst-case scenario, I’d still land on my feet.