Sanford I. Weill (born March 16, 1933), commonly known as Sandy Weill, is an American banker, financier and philanthropist. He is a former chief executive officer and chairman of Citigroup Inc. He served in those positions until October 1, 2003 and April 18, 2006 respectively.
Under Weill's leadership, Citigroup was at the vanguard of the boom in subprime mortgages. As a result, Citigroup became the first too-big-to-fail company to implode.
Weill celebrated the $45 billion taxpayer bailout of Citi by taking Mexican vacation on Citigroup jet, complete with $13,000 carpets, pillows made from Hermés scarves, and Baccarat crystal glassware.
In a concerted effort to deflect the blame he so rightly deserves for defrauding millions of people of the money he uses to support his luxurious lifestyle, he has become a philanthropist. Why not? He's using stolen money to spread "his" good intentions.
In June 2007, he endowed the Weill Institute for Cell and Molecular Biology at Cornell, housed in a new life science building named Weill Hall. As chairman of the Board of Overseers of Weill Cornell Medical College and an emeritus member of the Board of Trustees of Cornell University, Mr. Weill orchestrated a $400 million donation to Cornell, of which he and his wife personally contributed $250 million.
Note: His philanthropy comes with his name attached.