Eli Broad, a businessman and philanthropist whose vast fortune, extensive art collection and zeal for civic improvement helped reshape the cultural landscape of Los Angeles, died Friday at Cedars-Sinai Medical Center in Los Angeles. He was 87.

The museums, medical research centers and cultural institutions emblazoned with the names of Mr. Broad and his wife, Edythe, include the Broad Art Center at the University of California at Los Angeles, the Broad Center for the Biological Sciences at the California Institute of Technology; and centers for regenerative medicine and stem-cell research at three California universities. The Broad, a $140 million art museum that he financed himself, opened in 2015. He gave $50 million to the Los Angeles County Museum of Art, played a pivotal role in creating the Los Angeles Museum of Contemporary Art, and brokered the deal that brought to the museum Count Giuseppe Panza di Biumo’s important collection of Abstract Expressionist and Pop Art.

He was particularly avid in acquiring works by Robert Rauschenberg, Cindy Sherman, Jean-Michel Basquiat, Cy Twombly and Jeff Koons. In 2005, he paid $23.5 million for “Cubi XXVIII,” a work by the American sculptor David Smith, at that time a record auction price for a contemporary artist.

Together, the Broad Art Foundation and the Eli and Edythe Broad Foundation, which is devoted to education, science and medicine, have assets of $2.4 billion and have dispensed hundreds of millions of dollars, putting the Broads among the leading philanthropists in the United States.

“I want to give back, and I also have a big ego” Mr. Broad told Forbes magazine in 2003. “I’d rather be recognized for doing good than for just making money.”