Bloomberg News

Carl Icahn to Give $200 Million to Mount Sinai School

November 15, 2012

Investor Carl Icahn

Billionaire investor and chairman of Icahn Enterprises Holdings LP Carl Icahn. Photogapher: Scott Eells/Bloomberg

Carl Icahn, the billionaire investor known for pushing takeovers and management shakeups, pledged $200 million to the Mount Sinai School of Medicine (51143MF:US), the biggest donation ever given to the New York City teaching hospital.

The hospital on Manhattan’s Upper East Side will be renamed the Icahn School of Medicine at Mount Sinai, according to Jeanne Bernard, a Mount Sinai spokeswoman. Most of the money will be used to build research capabilities, she said in a telephone interview today.

Icahn joins benefactors such as Sanford I. Weill, the former Citigroup Inc. chairman whose name now adorns Cornell University’s medical school in New York, and Kenneth G. Langone, a Home Depot Inc. (HD:US) co-founder who has given to New York University’s medical center. Icahn has already given $50 million to Mount Sinai and has committed to an additional $150 million over his lifetime, Bernard said.

“I am certain that my contributions to Mount Sinai will lead to significant medical breakthroughs in the diagnosis and treatment of disease that will dramatically improve and extend human life,” Icahn, a trustee at the school, said in a statement from Mount Sinai today.

The school will also rename a research center as the Icahn Genomics Institute. The investor previously funded a research building on the hospital campus and has donated to its $1 billion capital campaign. The latest gift is among the largest ever given to a medical school, according to today’s statement.

Mount Sinai has more than 3,400 faculty in 32 departments and 14 research institutes, according to its website.

To contact the reporter on this story: Alex Nussbaum in New York at anussbaum1@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net


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