Eli Broad, the billionaire philanthropist, contemporary art collector and entrepreneur who co-founded homebuilding pioneer Kaufman and Broad Inc. and launched financial services giant SunAmerica Inc., died Friday in Los Angeles. He was 87.
Suzi Emmerling, a spokeswoman for the Eli and Edythe Broad Foundation, confirmed his death to The Associated Press. Emmerling said Broad died at Cedars-Sinai Medical Center after a long illness. No services have been announced.
The New York Times first reported his death.
“As a businessman Eli saw around corners, as a philanthropist he saw the problems in the world and tried to fix them, as a citizen he saw the possibility in our shared community, and as a husband, father and friend he saw the potential in each of us,” Gerun Riley, president of The Eli and Edythe Broad Foundation, said in a statement Friday.
It was Broad (pronounced brohd) who provided much of the money and willpower used to reshape Los Angeles’ once moribund downtown