Eli H. Broad, Los Angeles, chairman of the board of SunAmerica Inc., one of the nation's largest issuers of fixed and variable annuities and guaranteed investment contracts, who received his bachelor's degree in 1954. Broad co-founded Kaufman and Broad in 1957 and built it into one of the nation's leading homebuilders. Later he developed SunAmerica into one of the nation's most successful retirement savings businesses. Under Broad's leadership, SunAmerica was the best performing stock on the New York Stock Exchange from 1990 until 1998, when Broad negotiated its acquisition by AIG. He is also a board member of American International Group Inc., a leading U.S.-based international insurance and financial services company. An avid supporter of higher education, Broad and his wife, Edythe, endowed The Eli Broad College of Business and The Eli Broad Graduate School of Management at MSU in 1991, and recently established a special endowment for The Eli and Edythe L. Broad Dean of Business. A leader in Los Angeles civic activities, Broad has supported a wide array of causes, including service as founding chairman of the Museum of Contemporary Art in Los Angeles and as a trustee of the Los Angeles County Museum of Art.
Eli and Edythe Broad have deep roots in Michigan. Both attended Detroit Public Schools, and Eli Broad graduated cum laude in 1954 with a degree in accounting from Michigan State University, becoming the youngest C.P.A. in the state's history. Eli Broad went on to found two Fortune 500 companies, KB Home (formerly Kaufman and Broad Home Corporation) and SunAmerica, Inc. His success across a five-decade career in business enabled the couple to become two of the country's leading philanthropists. They established The Broad Foundations to advance entrepreneurship for the public good in education, science and the arts. Since 1970, the Broads have built two of the most prominent collections of postwar and contemporary art worldwide including 2,000 works by more than 200 artists. Since 1984, The Broad Art Foundation has operated an active 'lending library' dedicated to increasing access to contemporary art for audiences worldwide in hundreds of museums and university galleries. Mr. Broad was the founding chairman and is a life trustee of The Museum of Contemporary Art in the couple's adopted hometown of Los Angeles. He is also a life trustee of The Museum of Modern Art in New York and of the Los Angeles County Museum of Art (LACMA). The Broads have made leadership gifts to build a Zaha Hadid-designed building at MSU and also the Renzo Piano-designed Broad Contemporary Art Museum at LACMA. After years of supporting other arts institutions, they are currently building The Broad, a museum and headquarters for The Broad Art Foundation designed by Diller Scofidio + Renfro, on Grand Avenue in the heart of downtown Los Angeles. In 1991, the Broads endowed The Eli Broad College of Business and The Eli Broad Graduate School of Management at Michigan State University. They have supported a partnership between the MSU College of Education and Detroit Schools. Recognizing the power of art to inspire and uplift, the Broads gave $28 million to create the Eli and Edythe Broad Art Museum at MSU making possible an architecturally and artistically significant institution for the students and community of East Lansing and beyond.