Early Life
Edythe Lawson, now known as Edythe Broad, was born in Detroit, Michigan, in 1936. She was raised in Detroit and developed an early appreciation for art during school trips to the Detroit Institute of Arts. She met her future husband, Eli Broad, in high school and they married in 1954.
Rise to Success
Eli Broad, along with his wife Edythe, built a substantial fortune in homebuilding and insurance. He co-founded KB Home, a homebuilding company, and later acquired SunAmerica, an insurance company. Both companies were highly successful, contributing significantly to the Broad family's wealth.
Key Business Strategies
Eli Broad's business acumen was evident in his strategic decisions. He identified opportunities in the homebuilding industry by offering affordable housing. Later, he transformed SunAmerica into a leading annuities provider. The sale of SunAmerica to AIG for $18 billion marked a significant financial achievement.
Philanthropy
Edythe and Eli Broad are renowned for their philanthropic endeavors. They established The Broad Foundations, which have assets of $3 billion, with a commitment to supporting education, science, and the arts. Their foundations have pledged or given away more than $4 billion in grants over the years. Edythe Broad has also been involved in civic projects, including the Grand Avenue Project in Los Angeles. Their legacy includes The Broad, a contemporary art museum in Los Angeles that offers free admission, reflecting their commitment to making art accessible to the public.