Born In: New York City, U.S.
Eli Broad was an American entrepreneur and philanthropist who built KB Home, a homebuilding company, and SunAmerica, an insurance corporation, becoming the only person to build two Fortune 500 companies in different industries. Famous for his unconventional ways of conducting business, he cultivated an image for being “completely unreasonable”. He credited his unreasonable ways for his phenomenal success which he believed he would have never achieved had he chosen to stick with the accepted conventions in business. Born to Lithuanian Jewish immigrant parents in the United States, he was raised in a middle-class home. In spite of his modest upbringing, he harbored ambitious dreams from a young age. A good student, he graduated from Detroit Central High School and went on to study accountancy and economics at the Michigan State University. He had to work very hard to provide for himself while still studying and worked at a number of odd jobs to make ends meet. After working for a couple of years he decided to open his own business and teamed up with a relative to start KB Home which proved to be a highly successful venture. Encouraged by its success, Broad acquired Sun Life Insurance Company of America and transformed it into SunAmerica. He also devoted a lot of time and energy to philanthropic efforts along with his wife.
Also Known As: Eli L. Broad
Died At Age: 87
Spouse/Ex-: Edythe L. Broad
father: Leon Broad
mother: Rita Broad
Born Country: United States
place of death: Los Angeles, California, U.S.
City: Detroit, Michigan
U.S. State: Michigan
Founder/Co-Founder: The Broad Foundation, SunAmerica Focused Alpha Growth Fund Inc, KB Home, Kaufman & Broad S.A., The Broad
education: 1954 - Michigan State University, Central High School
Recommended For You
He attended Detroit Central High School and graduated in 1951. He moved on to the Michigan State University, majoring in accounting with a minor in economics. He graduated cum laude in 1954. As a college student he worked at a variety of jobs which included selling women’s footwear and working as a drill press operator at Packard Motor. He also acquired the credentials of Certified Public Accountant (CPA).
In 1962, the company expanded to Arizona, and a year later to California. Their growing success propelled them to venture into international markets and in 1967, they became the first U.S. homebuilder to expand into France.
Along with Donald Kaufman, Eli Broad founded the homebuilding company Kaufman & Broad in Detroit. The company was a Fortune 500 company from 2000 through 2008 and was named "Most Admired Homebuilder" by ‘Fortune Magazine’ in 2006, 2008, 2009, and 2011.
He met and fell in love with Edythe "Edye" Lawson while both were at the Michigan State University. The couple got married in 1954, and had two children.
Eli Broad died after a long illness on April 30, 2021. He was 87.
Eli Broad was a life trustee of The Museum of Contemporary Art in Los Angeles, to which The Broad Foundation gave a $30 million challenge grant in December 2008.
How To Cite
People Also Viewed