Eli Broad news stories on Newser

Calif. Billionaires Fight for $10B Tax Hike

Mary Papenfuss — Mon, 21 Nov 2011 02:33:00 CST

A group of California billionaires is joining political insiders to put a $10 billion tax hike measure on the state ballot. Members of the Think Long Committee include billionaire Google chairman Eric Schmidt and philanthropist Eli Broad, as well as former governors Gray Davis and Arnold Schwarzenegger, and Condoleezza Rice....

Oprah Hires Star Money Manager

Rob Quinn — Wed, 19 May 2010 05:40:00 CDT

Oprah Winfrey is assembling a hotshot investment team to manage her estimated $2.4 billion fortune. Peter Adamson, currently chief investment officer for billionaire philanthropist Eli Broad, will head up Winfrey's investment office, insiders tell the Wall Street Journal . The move comes as Winfrey, already one of the richest African...

Eli Broad: AIG Can't Recover

Jason Farago — Tue, 10 Mar 2009 07:20:00 CDT

Eli Broad, a former director and shareholder of AIG, said yesterday that "it is too late" for the insurance giant to make any recovery. The Los Angeles billionaire told Reuters that the government's initial bailout of AIG came "on the harshest of terms," and that a Citigroup-style guarantee of toxic...

Troubled LA Museum Wins $30M Bailout

Jason Farago — Fri, 19 Dec 2008 07:27:28 CST

LA's troubled Museum of Contemporary Art is moving toward a bailout deal with Eli Broad, reports the Los Angeles Times . The billionaire real estate investor and art collector offered MoCA a $30 million donation contingent on improved performance, which board members favored over a merger with the Los Angeles County...

Crisis-Stricken LA Museum Mulls Merger

Jason Farago — Wed, 17 Dec 2008 08:13:01 CST

The future of LA's troubled Museum of Contemporary Art became somewhat clearer yesterday, as the institution's director began negotiating his resignation and the larger Los Angeles County Museum of Art proposed a merger. Tomorrow the MoCA board will meet to decide the fate of the troubled museum, which has teetered...

As Museums Struggle, LA's MOCA Seeks Merger

Jason Farago — Fri, 21 Nov 2008 07:36:01 CST

The Museum of Contemporary Art in Los Angeles, one of the nation's leading modern art galleries, is holding talks with other LA institutions about a possible merger. MoCA has already announced a 10% cut in staff and the temporary closure of 50% of its exhibition space. For the New York...

Broad Donates $400M for Gene Research

Harry Kimball — Thu, 04 Sep 2008 15:08:33 CDT

Eli and Edythe Broad plan to donate $400 million more to the Massachusetts foundation they started 4 years ago to research the genetic causes of disease, the Boston Globe reports. “It's the biggest investment we've ever made,” said Broad, whose gift to the joint Harvard/MIT venture is the largest donation...

'Saving' Public Schools Not a Money Thing

Sam Biddle — Thu, 21 Aug 2008 16:29:08 CDT

As dissatisfaction with the nation’s No Child Left Behind policy grows, it seems educators, politicians, and businessmen all have their own take on how to “save” the US public school system—with little consensus. Gary Stager, in Good , examines the overwhelmingly complex difficulties facing the nation’s ailing schools, and why...

LA Museum's Extension Has Split Personality

Will McCahill — Thu, 07 Feb 2008 13:00:00 CST

Critics are assessing Los Angeles's newest art institution, the Broad Contemporary Art Museum, housed in a building by Renzo Piano on the campus of the Los Angeles County Museum of Art. It's a strange mix of public and private: The new building—to open Feb. 16—was funded by billionaire...