“I believe that a newspaper is a great civic asset and that ownership is best in the hands of foundations or wealthy families that want to own it for reasons other than maximizing profits. I also believe newspapers should remain in local hands.”

American businessman and philanthropist

Eli Broad was an American businessman and philanthropist. He was known for his work in business and for directing major gifts toward public education, scientific and medical research, and the visual and performing arts. His philanthropy focused especially on changing public K to 12 education toward charter school models. In June 2019, Forbes ranked him among the wealthiest people in the world and in the United States, with an estimated net worth of $6.7 billion.