Billionaire and philanthropist Eli Broad wanted to die poor

Eli Broad in front of his museum, The Broad, in Los Angeles.AP image

He borrowed one of the slogans of his life from a nineteenth-century steel magnate Andrew Carnegie: “He who dies rich shall die in disgrace.” Business Journal Forbes Eli Broad has an estimated assets of $ 6.9 billion (5.7 billion euros).

Eli and Edye Broad were the focus of many partying – the paparazzi just couldn’t get enough of the couple, and the couple drunk their attention. “I want to return the favor, and I have a great psyche, too,” Brod admitted. Their names are written on the facades of museums, concert halls, schools and (vital) medical institutes. They provided hundreds of millions into public education in disadvantaged neighborhoods.

The fact that their hometown of Los Angeles has grown into a world-class cultural capital in recent decades is in large part due to the generosity of the couple. On Grand Avenue, in a previously neglected and insecure downtown Los Angeles, they are the mainstays of the Los Angeles Opera, the Disney Hall (Los Angeles Philharmonic Base), the Museum of Contemporary Art (MOCA), the College of Performing Arts and the Conservatory. Additionally, since 2015, from their own museum: The Broad.

Eli Broad was born in 1933 in the Bronx, a poor part of New York City. He moved with his parents, Jewish immigrants from Lithuania, to Detroit when he was seven years old. After studying him, he amassed a fortune from real estate (KB Home) and insurance (SunAmerica). He built affordable pre-homes – with parking lots rather than basements – and sold retirement provisions.

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Of his business instinct in 2005, he said: “Always playing safe won’t get you very far.” He said he had little patience and stayed no more than three hours, whether it was a business deal meeting, party or museum visit. He was at odds with the architects and was alarmed by the incompetent members of the school boards, who saw education primarily as a starting point for a political career.

Broad favored interfering with the precise use of every dollar he donated, but also called for higher wealth taxes on the very rich. Only in this way can economic inequality be addressed. This disparity affects the “spirit of strength of our country”, Argue in 2019 New York times.

I can afford to pay more, and I know others can, too. What we cannot afford are short-sighted policies that go beyond big ideas, avoid difficult issues, and do little to alleviate poverty facing millions of Americans. There is no time to waste. ‘

His life revolves mainly around contemporary art. “Art is our passion or our addiction. I don’t know which is.” Elle Broad said. He knew and bought Jean-Michel Basquiat, Jeff Koons, Yayoi Kusama, Damien Hirst, Anselm Kiefer and Cindy Sherman early in their careers. His flair wasn’t always sexy or innovative. , But hundreds of museums around the world eagerly borrowed works from Luc Tuymans, Andy Warhol, Charles Ray, and Joseph Beuys.

Ellie and Eddie Broad in their museum in the work of Jeff Koons.  AP image
Ellie and Eddie Broad in their museum in the work of Jeff Koons.AP image

“We have been collectors for more than seventy years,” wrote Eli Broad in his publication. Wide range, Sidewalk tiles from a book. I was only five years old when I started collecting stamps from all over the world. By the time I turned thirteen, I had made my way from collector to dealer, earning a few hundred dollars a month.

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His wife bought her first “artwork” at the age of twelve, a replica of Picasso. In 1972, they bought a painting by Vincent Van Gogh at auction for $ 95,000. “Eddy reminded me that our first house only cost 16,000 dollars.”

Jeff Koons, 66, paid tribute to Ellie Broad and his wife this weekend Los Angeles Times For the opportunities they provided for his generation. “They started compilation early, but have focused on contemporary art.” According to Kunz, The Broad is a prominently large museum in the United States for the generation of artists it belongs to.

“It was a fun handshake,” said Mark Bradford, 59, the artist who represented the United States at the 2016 Venice Biennale. Hold your hand, shake your hand, and then tighten you at close range. Hold you by your elbow. It was fun, and I’ve never forgotten it. That means, well, we’re going to build an intimate bond.

Eli Broad in Three Quotes

“I never play golf because it takes so long, and the business connections that produce it can be made just as easily during an early breakfast.”

“Charity is just writing checks. Philanthropy for me is not just about your finances, but also people, yourself, and doing things that have never been done before.

I don’t want to be in the filmmaking business. I don’t even know if this is a business.

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