Tuesday, 26 July 2016
Last updated 6 hours ago
Nov 15 2012 | 2:36am ET
Long before he became a legendary corporate raider and hedge fund manager, Carl Icahn attended medical school. Now, his name will finally appear on a medical diploma—as the name of a medical school.
The Icahn Associates chief, who last year stopped managing outside capital, has pledged $200 million to the Mount Sinai School of Medicine in New York, which will be renamed the Icahn School of Medicine at Mount Sinai. Icahn, who serves on the school's board of directors, has already given $50 million to it, with the other $150 million to come.
Icahn said the gift, which will be primarily used to build research capacity, was influenced by both of his parents: He cited his father's socialist legacy and his mother's dream that her son would become a doctor. "It does help the people that aren't that fortunate," Icahn said of his new namesake.
Icahn also spoke of the two years he spent in medical school at New York University—a school now named for fellow financier Kenneth Langone—at his mother's urging. He "hated" the experience, he said, but added, "My mother would be proud of me today. My name is involved with a medical school."