LOS ANGELES—Eli Broad, the billionaire entrepreneur turned philanthropist and art collector, died on Friday at the age of 87. Broad passed away at Cedars-Sinai Medical Center in Los Angeles following a long illness, said Suzi Emmerling, a spokeswoman for the Eli and Edythe Broad Foundation. An accountant by trade who made his fortune in real estate and insurance, Broad helped create The Broad, the Los Angeles museum housing his collection of postwar and contemporary art, which opened in 2015. Broad contributed heavily to the construction of the nearby Walt Disney Concert Hall as well as an art center at the University of California, Los Angeles. His donations also helped open the Broad Center at Yale School of Management, and the Broad Institute, a genomic medicine research center created in partnership with Harvard University and the Massachusetts Institute of Technology. “As a businessman Eli saw around corners, as a philanthropist he …