Eli Broad, a Jewish billionaire philanthropist, died on Friday at the age of 87, a spokeswoman for the Eli and Edythe Broad Foundation said.

According to the foundation, Broad died in the Cedars-Sinai Medical Center in Los Angeles following a lengthy disease.

Born in 1933 in the Bronx to a family of Jewish immigrants from Lithuania, he began his entrepreneurial career as an accountant but soon entered the real estate industry.

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In 1971, he acquired an insurance company that he transformed into SunAmerica, an insurance and finance powerhouse.

In mid-90s, he sold the business, which played a key role in making his fortune, earning him the rank of the 78th wealthiest person in the US as per Forbes in 2019.

Read more at i24NEWS.