Eli Broad, an American billionaire, is a well-known philanthropist and art collector. He built his fortune in real estate through his company Kaufman & Broad, now more popularly known as KB Home. With an estimated net worth of about $5.8 billion, Broad can afford to be extraordinarily generous to the various causes he supports.

Together with his wife, Edythe, Eli established The Broad Foundations, which aim to improve K-12 urban public education by way of facilitating better governance, management, labor relations and competition. The Broad Foundations, which includes The Eli and Edythe Broad Foundation and The Broad Art Foundation, is responsible for various education-related funding and donations. The Eli and Edythe Broad Foundation also teamed up with another husband-and-wife tandem, Bill and Melinda Gates of the Bill and Melinda Gates Foundation, to extend a $60 million pledge for the creation of Strong American School. Strong American School is a nonprofit organization which promotes sound education policies for the betterment of the American students and the American educational system.

Growing up with his immigrant parents, Eli Broad learned about the values of hard work early in life. After headlining and running two Fortune 500 companies, he admits that his priorities have changed. He now feels the need to put the spotlight on education. In fact, Eli and The Broad Foundations have been responsible in putting together a group of highly skilled and experienced workforce for the urban school district. The foundation works on the core belief that education is what provides strength and promotes security in a country. This is why the foundation, and Eli and Edythe, have been consistent in their support for various education-related projects over the years.

Some of Eli and the foundation’s most notable contributions include the endowment of Michigan State University’s Eli Broad College of Business in 1991; a $100 million donation to Harvard; and on September 4, 2008, a $400 million donation to the Broad Institute (a fund to be managed by Harvard’s investment unit).