August 10, 2012 |
Los Angeles billionaireEli Broad'sfoundation has held back promised contributions to the Museum of Contemporary Art, which former MOCA Chief Executive Charles Young says is not allowed under Broad's 2008 pledge agreement with the museum. Half of the Broad Foundation's $30-million pledge to MOCA is for exhibitions and is to be paid in $750,000 quarterly installments through 2013. Bloomberg News reported this week that payments had not been made. On Friday, a MOCA spokeswoman declined to comment when asked whether the April 1 and July 1 exhibition payments - totaling $1.5 million - were made, or whether the museum had asked for the funds and been refused.
January 9, 2008 |
In a sharp reversal of oft-stated intentions, financier and philanthropist Eli Broad has decided to keep his collection of contemporary art instead of giving it to museums, a move likely to be interpreted as a blow to the Los Angeles County Museum of Art. A leading collector of late 20th and 21st century art, Broad has amassed a 2,000-piece collection under a foundation that functions as a lending library and study center.
CALIFORNIA | LOCAL
June 12, 2003 |
Philanthropist Eli Broad will bankroll a new contemporary art building for the Los Angeles County Museum of Art, museum officials said Wednesday, as part of a many-faceted donation likely to approach $60 million, making it the largest single cash gift in the institution's history.
December 3, 2006 |
ELI BROAD'S got a secret. The billionaire philanthropist and businessman may be the most public of America's private art collectors. He sits up front at auctions and makes no secret of his purchases. A major exhibition from his contemporary art collections, organized by the Los Angeles County Museum of Art, went on the road from 2001 to 2003. Hundreds of other Broad-owned works pop up every year at museums and university galleries across the country.
July 14, 2010 |
Eli Broad told city and county officials this week he would pay $7.7 million for a 99-year lease on public land in downtown Los Angeles where he can build an art museum, winning over a public opponent of his plan and signaling in the strongest terms yet that he has decided against putting the museum in Santa Monica. Broad persuaded Los Angeles County Supervisor Mike Antonovich, the only public official on record opposing his previous request to lease it for a token dollar a year.
January 15, 2008 |
When you're director of the Los Angeles County Museum of Art, talking money from billionaires is part of the job description. But now LACMA Director Michael Govan faces a tougher task: hailing Eli Broad's generosity and opening LACMA's new Broad Museum of Contemporary Art while Broad tells the world how he decided not to give the museum his art collection. "Eli has never changed his story with LACMA," Govan said on the afternoon after Broad's decision hit the headlines last week.
CALIFORNIA | LOCAL
January 10, 2010 |
The Santa Monica City Council is expected to vote Tuesday on an "agreement in principle" that could hasten Eli Broad's plan to create a museum next to the Santa Monica Civic Auditorium to house his 2,000-piece contemporary art collection. City Manager P. Lamont Ewell has recommended approval of the preliminary pact, which spells out both sides' basic obligations but doesn't constitute a final go-ahead. That would have to await reviews of the final design of the $40- to $60-million building and its environmental impact on the surrounding Civic Center area.
January 16, 2011 |
Usually, Eli Broad's trajectory as an art collector is traced to mentoring by the late Taft Schreiber. Broad himself has talked admiringly of what he learned about art from the MCA Inc. executive (and Ronald Reagan's former Hollywood agent), whose small but extraordinary trove of works by Jackson Pollock, Piet Mondrian, Alberto Giacometti and 10 others was a magnanimous 1989 gift to the Museum of Contemporary Art from the estate of Schreiber's widow, Rita. Still, another, even more celebrated name in the annals of Los Angeles art collecting ought not to be discounted, even if the influence was perhaps more indirect.
April 29, 2010 |
It's a familiar recipe for urban revitalization in downtown Los Angeles. Start with a nondescript parking lot in a strategically important location. Propose replacing it with a new building by an acclaimed architect. Repeat as often as politically or financially feasible. That was the plan for the first phase of the ambitious but now stalled Grand Avenue project, which called for a mixed-use complex by Frank Gehry to replace a parking structure across the avenue from Gehry's Walt Disney Concert Hall.