To me, money is a means to do good. I reached a point in my life where I had enjoyed tremendous business success that afforded my family everything we could possibly want. My wife and I then decided that we could use our wealth to make a difference. So we created the Broad Foundations to do four things: to improve urban public education, to support innovative scientific and medical research, to foster art appreciation for audiences worldwide and to support civic initiatives in Los Angeles.

The inability to delegate is one of the biggest problems I see with managers at all levels.

Most museums - with all their burdens to pay for exhibitions, administration, and security - really don't have any money really to acquire art, with few exceptions.

I don't think it makes any sense for an individual to invest in common stocks unless they know the company, work at the company, and so on.

Every artist is unreasonable, because he or she is doing something that hasn't been done before.

There is no substitute for knowledge. To this day, I read three newspapers a day. It is impossible to read a paper without being exposed to ideas. And ideas - more than money - are the real currency for success.

How absurd that our students tuck their cell phones, BlackBerrys, iPads, and iPods into their backpacks when they enter a classroom and pull out a tattered textbook.