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Live from the Weill Cornell medical college in New York City named after the man who created the modern face of banking by building up.
The largest bank on the planet sandy Weill of Citigroup -- here in the medical school library looking around.
What is really truly become not just of medical school in a medical school building.
But almost a village one point seven million square feet.
Right here in the upper east side of New York City where it's really become the hotbed of medical research of biomedical studies.
And none of that could have been made possible were it not for sandy Weill and his wife Joan who had given more than half a billion dollars of their own money.
To help build all of this up and its interest in all of these people you see these -- the doctors.
-- -- -- What is also kind of interesting and what we have found to us is that you don't to think about it.
A big chunk of the money that sandy Weill had offered to donate 250 billion of that was supposed to go upon his death to the school.
And then of course the financial crisis happened that changed the entire picture Cornell -- the call up and say.
But we need the money now.
And sandy -- said yes but how has -- -- changed the face of philanthropy.
Well in an exclusive and rare interview sandy -- who was not appeared in a broadcast interview.
In years is here with me now good to see you as you -- the -- to welcome and thank you for coming on Fox Business well here we are tell us about the newest face.
Of the Weill Cornell medical center that has broken ground and this is really the news about it it's going up that we have we are building.
New research building just across the street.
It'll be nearly 500000 square feet and cost about 650.
Million dollars and will really allow us to more than doubled the -- search space and being able to do that.
Right across from where we have all of our other programs I think is a fantastic opportunity.
And were able to do -- cheaper because.
We we -- doing it during a recession in building.
So were able to build -- out the building -- that much but I -- -- here here's the businessman for all of us that we get about the that's true I mean this is you're looking at a silver lining careful when Cornell called sandy.
We need the money now everybody including -- had seen your personal fortune shrink.
Did you hesitate at any point or did you say you know what I got -- -- -- -- I think when things get tough.
It's much more important to do things and I think when somebody makes a gift now to.
Our medical school or -- or any kind of flipped the.
It's worth multiples of what it was worth when things were very good well -- -- walk over here and you know when you look at these people obviously he's with the doctors of tomorrow.
What do you think about that I mean that the -- where you are talking and he said.
For the right reasons these people want to be doctors what do you mean.
I think that when people go to an academic got medical center and then create a crew of there.
Then not doing just to to make money in medicine or have their own just their own private -- practice their interest didn't giving back their interest in teaching.
-- interest and research as well as the clinical care so it's really a tripartite function.
And really making society a better place and I am I am really incredibly excited about the different discoveries that I think -- gonna happen in medical science to make people's lives better not just the United States but.
To eradicate some of these diseases around the world which we do a lot of work and did your mom want you to the doctor is that -- -- In all of this I don't think Mallorca I I don't like the sight of blood I think needles.
So it has nothing to do with the way I'm doing the things you.
Took the buffet Bill Gates billionaire challenge the giving pledge where.
They called up a lot of billionaires in this nation and said will you give half of your personal fortune to charity in -- way they were already preaching to the choir you had given a lot but.
How does that come about how -- about work.
We'll probably it will warm -- Warren Buffett called me.
-- -- for you won't be hard because you've been doing this for decades.
But it's really what we believe and we've told our kids -- that that's what we're gonna do and I think we've all been very lucky to be in this country and then have the opportunities that we've had.
And you know my wife told me that shrouds don't have pockets so and I don't think we want to control things from the grave.
-- her and her sister curses don't have to look at tracks is a disaster until and so you wanna give with a warm hand and -- doing and I think we -- and I think we look at where we.
Being much more than just money.
But it's giving of your time your energy your brain -- you passion.
So we want -- we wanna do this while we still have the energy.
Not just make a difference with the money but to make a difference without time and what we really care about.
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