Businessman, philanthropist and art collector Eli Broad, who left an indelible imprint on Los Angeles’ cultural scene, died today at age 87.The New York Times reported that Broad died at Cedars-Sinai Medical Center.
A spokeswoman for the Eli and Edythe Broad Foundation tells the paper his death followed a long illness.Broad made his fortune building single-family homes.
He and Donald Bruce Kaufman founded KB (Kaufman & Broad) Homes in Detroit in 1956. The firm went on to build more than 600,000 homes in the postwar boom, many of them in Southern California.
He later bought Sun Life Insurance, transforming it into annuities giant SunAmerica, before selling it to AIG for $18 billion in stock in 1998.Forbes listed his wealth in its 2021
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