Former Citigroup CEO Weill Gives $100 Million to Cornell

Sanford “Sandy” Weill, the former chairman and chief executive officer of Citigroup Inc. (C), and his wife, Joan, gave $100 million to Cornell University’s medical school, bringing their total donations to the university to more than $600 million.

The gift, which also came from the Weill Family Foundation, will fund research into cures for cancer, diabetes, obesity and metabolic disorders, Weill Cornell Medical College in New York said today in a statement on its website. The institution was renamed for the Weills in 1998.

Sandy Weill, 80, received a bachelor’s degree from Cornell in 1955 before a career in finance that spanned half a century and made him a fortune that Forbes estimated at $1.5 billion in 2006. The Weills’ gifts to Cornell include $100 million in 1998 for a capital campaign and $250 million in 2009 for biomedical research. They have also donated more than $100 million to Carnegie Hall, in New York, where Sandy Weill is chairman of the board.

“We are immensely proud of what Weill Cornell has achieved -- and what more we can accomplish in the years to come,” Weill said in the statement.

Cornell was founded in 1865 in Ithaca, New York. The university, a member of the Ivy League, has about 22,400 students in Ithaca, New York City and Qatar. Graduates include Supreme Court Justice Ruth Bader Ginsburg and Indian industrialist Ratan Tata.

To contact the reporter on this story: Oliver Staley in London at ostaley@bloomberg.net

To contact the editor responsible for this story: Lisa Wolfson at lwolfson@bloomberg.net

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