Billionaire developer Eli Broad, patron of L.A. arts, dies at 87

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Billionaire developer Eli Broad, a global art patron who developed the Broad Museum in downtown Los Angeles, has died at age 87.
Billionaire developer and arts patron Eli Broad, who helped put Los Angeles on the high-culture map, died Friday, a spokeswoman said. He was 87.

He died Friday at Cedars-Sinai Medical Center after a long illness, said Suzi Emmerling, spokeswoman for the Eli and Edythe Broad Foundation.

Broad founded homebuilder KB Home in 1957 and acquired life insurance and financial services company SunAmerica Inc. two decades later. Both became Fortune 500 companies, feeding his estimated $6.9 billion net worth and helping to make him a power player in L.A. culture and politics.

Eli Broad and his wife, Edythe at the civic dedication and ribbon cutting ceremony to celebrate the opening of the Broad museum downtown Los Angeles on Sept. 18, 2015. Nick Ut / AP

House Speaker Nancy Pelosi, D-California, said in a statement that the passing of Broad, a friend for more than 30 years, "is a great loss for Los Angeles and for the nation."

"Eli, together with his beloved wife Edye, made it his life's work to expand opportunity in America," she said. "Our entire nation is particularly indebted to the Broads for their commitment to supporting the arts, which they knew to be an essential, unifying force…
Dennis Romero
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