A real collector does not sell.

Who you spend your life with-much more so than how you choose to spend it-is the most important decision you can make. Do it right. That's the best advice I can give you.

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.

Frankly, I'm not sure how far I would get if I attended public school today. It's not just that public schools aren't producing the results we want - it's that we're not giving them what they need to help students achieve at high levels. K-12 education in the United States is deeply antiquated.

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.

Art evokes emotion. It doesn't have to be a thing of beauty.

A lot of executives act like their time is worth more than anyone else's. But I always respect an employee who guards his or her time, even from me.