On Friday, we got news about the sad demise of Eli Board- the person who reshaped Los Angeles. Eli Broad was a having skills and was a billionaire philanthropist, Contemporary art collector, and entrepreneur. He is the only co-founder of homebuilding pioneer Kaufman and Broad Inc and has also launched financial services giant SunAmerica Inc. Eli Board did a lot in the whole of his life but he passed away on Friday at age 87.
Suzi Emmerling- the spokesman for Eli and Edythe Broad Foundation is the one who confirmed the death news of Eli Board to The New York Times. She told the newspaper, that Board died at Cedars-Sinai Medical Center after a long illness that he was having. In addition, she says that it was Eli Board only who provided much of the money and willpower used for the reshaping of Los Angeles.
According to Forbes, Board’s net worth on Friday was list to be around $6.9 billion. During the 1950s, Board was a young accountant and he developed his interest in the booming real estate market. He quit his job and shook the hands with developer Donald Kaufman. Eli Board partnered with Donald Kaufman and started to build starter homes for first-time buyers. The company became the KB home and was consider to be the most successful company in the nation. This was all because of Board and his interest in the real estate market. Eli Board then gained a good reputation for being a driven, tenacious dealmaker.
Probing further, in late 1999 Board founded Broad Education Foundation, whose goal was to improve urban public education. Around $500 million was commit by the foundation towards the first cause in the first five years. Therefore, Board once said that ‘You never start from the bottom, you always start from the top’.
