Sunday, August 1, 2021

MSU alumnus and billionaire Eli Broad dies at 87

April 30, 2021
The Broad Art Museum on Oct. 30, 2020.
The Broad Art Museum on Oct. 30, 2020. —
Photo by Annie Barker | The State News

Billionaire and Michigan State University alumnus Eli Broad died Friday at age 87 following a long term illness, a spokesperson for the Eli and Edythe Broad Foundation told the New York Times.

Broad, who the Eli and Edythe Broad Art Museum and Eli Broad College of Business are named after, was one of Michigan State's largest benefactors, donating more than $100 million dollars to MSU since he graduated in 1954.

One of his biggest donations was $33 million dollars to help build the museum in 2007, where $21 million was designated for design and construction and the other $12 million for exhibitions, acquisitions and operations.

In his lifetime, Broad built two Fortune 500 companies and had an estimated net worth of $7.3 billion.

Additionally, Broad and his wife donated a $25 million dollar grant in 2014 to spark donations for the business college in a campaign that ran through 2018.

Outside of MSU, Broad used his wealth as an art collector to mold Los Angeles' cultural landscape. According to a Los Angeles Times article, he had a large role in Walt Disney Concert Hall and the Museum of Contemporary Art before creating his own museum.

Broad spent millions on scientific and medical research programs in the city, particularly stem cell research at the University of Southern California, University of California, Los Angeles, and other research institutions, according to the LA Times.

In 2017, Broad announced that he'd be "taking a step back from public life" to spend more time with family.

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