LA's Wealthy Benefactors: Still Giving?: For a story that looks at...
Wednesday, Jul 29, 2009 | Updated 7:19 AM PST
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For a story that looks at how recent financial events are affecting our local economy, the Los Angeles Business Journal ponders the impact on philanthropic ventures. Their example: Local billionaire Eli Broad, who has helped fund recent projects including the Broad Contemporary Art Museum, the recently-opened Broad Stage at the Santa Monica Performing Arts Center, and that space-age downtown high school, owned about $800 million worth of AIG stock this summer. That stock is now worth about $72 million. "Such losses, if not recouped, could put a crimp in the L.A. philanthropic community, something Broad has been a leader in with donations to art museums, schools and other institutions." [LA Business Journal]
Posted Wednesday, Jul 29, 2009 - 7:04 AM PST
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