He is the CEO of IVAX Corporation, which was acquired by TEVA Pharmaceuticals, and she served as chair of the Smithsonian National Board. The couple is a huge supporter of the arts, evidenced by their $33 million donation to the University of Miami that led to the Frost School of Music—the largest gift ever made to a university-based music school in the United States. The couple’s additional donation to Florida International University resulted in the school’s art museum being renamed The Patricia & Phillip Frost Art Museum. Adding to their list of eponymous museums is the new Miami Science Museum, which was dubbed the Patricia and Phillip Frost Museum of Science, thanks to a $35 million donation by the philanthropic couple.