Eli Broad is a renowned business leader who built two Fortune 500 companies from the ground up over a five-decade career in business. He is the founder-chairman of both SunAmerica Inc. and KB Home (formerly Kaufman and Broad Home Corporation).
Today, Eli Broad and his wife, Edythe, are devoted to philanthropy as founders of The Broad Foundations, which they established to advance entrepreneurship for the public good in education, science, and the arts. The Broad Foundations, which include The Eli and Edythe Broad Foundation and The Broad Art Foundation, have assets of $2.7 billion.
The Broads’ investments in scientific and medical research are focused on three areas: human genomics, stem cell research, and inflammatory bowel disease.
In an unprecedented partnership with the Massachusetts Institute of Technology, Harvard University, and the Whitehead Institute, the Broads in June 2003 announced the $100 million founding gift to create The Eli and Edythe Broad Institute for biomedical research. The institute’s aim is to realize the promise of the human genome to revolutionize clinical medicine and to make knowledge freely available to scientists around the world. They gave a second $100 million gift to the Broad Institute in 2005, and in 2008, with the Broad Institute firmly established as the world’s leading genomics and biomedical research institute, they gave $400 million to create an endowment that will make the institute permanent. In 2013, they gave another $100 million, bringing their total investment in the Broad Institute to $800 million.
The Broads have supported the advancement of stem cell research, particularly in California, through the creation in 2006 of the Eli and Edythe Broad CIRM Center for Regenerative Medicine and Stem Cell Research at the Keck School of Medicine at the University of Southern California. In 2007, the Broads announced a major gift to the University of California, Los Angeles for the Eli and Edythe Broad Center of Regenerative Medicine and Stem Cell Research. In 2008, the Broads gave a major gift to the University of California, San Francisco for the new headquarters of the Eli and Edythe Broad Center of Regeneration Medicine and Stem Cell Research.
In 2001, the Broads created the Broad Medical Research Program to fund and encourage innovative research that will advance the prevention, therapy, or understanding of inflammatory bowel disease (IBD). In 2014, the Broad Medical Research Program merged with the Crohn’s & Colitis Foundation of America, which is continuing the program’s tradition of funding pilot research projects.
Strong believers in higher education, the Broads have made major contributions to universities to support scientific research. Mr. Broad is a life trustee at Caltech, where the Broads created the Broad Fellows Program in Brain Circuitry and gave the cornerstone gift to create the Broad Center for the Biological Sciences. In 2009, The Broad Foundation funded the creation of the Joint Center for Translational Medicine at Caltech and UCLA to advance experimental research into clinical applications.
From 2004 to 2009, Mr. Broad served as a Regent of the Smithsonian Institution by appointment of the U.S. Congress and the President. He is a Fellow of the American Academy of Arts and Sciences and in 1994 was named Chevalier in the National Order of the Legion of Honor by the Republic of France. Mr. Broad received the Carnegie Medal of Philanthropy in 2007. He received the David Rockefeller Award from the Museum of Modern Art in March 2009. Eli and Edythe Broad were awarded the William E. Simon Prize for Philanthropic Leadership in October 2013.
The Broads reside in Los Angeles and have two grown sons.