Ex-Citigroup Chief Gives Advance on Cornell Medical-School Bequest
April 7, 2009 | Read Time: 1 minute
Sanford I. Weill, the former chairman of Citigroup, has donated another $170-million to Cornell University’s medical school, offering most of a planned posthumous gift ahead of time to help the institution through financial straits, The New York Times reports.
Mr. Weill, 76, had already given more than $200-million to the school, which bears his name, and pledged to provide another $250-million upon his death. The university, which has lost more than a third of its endowment and faces an 8-percent deficit on its $2.9-billion budget, asked for some of the bequest immediately to proceed with plans for a new medical-research building.
“The value of the cash right now is much greater to us,” said Antonio M. Gotto Jr., dean of the Cornell medical school.
Read this Chronicle profile of Mr. Weill and his wife, Joan H. Weill.
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