Eli Broad net worth

Eli Broad net worth

Net Worth: $7.4 Billion

About Eli Broad

Eli Broad net worth

It has been calculated that the total size of the current Eli Broad net worth reaches 7.4 billion dollars. He is one of the most successful businesspeople. In addition, he is a philanthropist. Eli Broad became the only person who has built two Fortune 500 firms in different industries, these companies being named SunAmerica and KB Home. In 2015, Eli Broad became the 65th richest person in the world, according to Forbes.
The businessman was born in 1933 in the Bronx, New York. His parents were Lithuanians who were living in New York. His mother was a dressmaker, whereas his father was a house painter. When he was six years old, Eli Broad moved with his family to Detroit, Michigan. There, his father started his own business when he established five-and-dime stores. In 1951, Eli Broad graduated from Detroit Central High School. Then, he continued his education at Michigan State University, from which he graduated in 1954 and got his Major’s degree in accounting and Minor’s degree in economics.
After graduation, he became an accountant and a professor at the Detroit Institute of Technology.

However, he always wanted to have his own business, and thus, started his accounting company. In 1957, he was joined by Donald Kaufman to establish Kaufman & Broad. This company became one of the main sources of increasing the total sum of Eli Broad net worth. The company has built around 600 houses in the suburbs of Detroit. In 1960, they moved to Arizona. In 1969, the company was moved to Los Angeles. In 1974, Eli Broad stepped down from his position as the CEO of the company.
In 1971, Eli Broad bought Sun Life Insurance Company of America. Then, he changed the company into the retirement savings powerhouse and renamed it to SunAmerica. In 1999, this company was acquitted by the American International Group, which paid 18 billion dollars for it. Until 2000, he was working as its CEO and then retired to focus on his work as a philanthropist. Thus, SunAmerica has increased the overall amount of Eli Broad net worth, as well.
Eli Broad is also a writer. In 2012, Wiley and Sons published his first book called “The Art of Being Unreasonable: Lessons in Unconventional Thinking”. The book became a best-seller in various lists, such as New York Times, Washington Post, USA Today and Wall Street Journal. Therefore, the sales of the book have also increased the total estimate of Eli Broad net worth.
Together with his wife, Eli Broad created the Broad Foundations, which include The Broad Art Foundation and The Eli and Edythe Broad Foundation, which have assets worth 2.1 billion dollars. Therefore, he is a successful philanthropist, as well. In 1979, Eli Broad became the founding chairman of the Museum of Contemporary Art, Los Angeles. In 1984, he stepped down from this position. In addition, Eli Broad belongs to the board of trustees of the Los Angeles County Museum of Art. Eli Broad is a Fellow of the American Academy of Arts and Sciences, as well.

Now you have an idea why Eli Broad net worth is this huge


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