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June 16, 2015

Bloomberg Donates $100 Million for Cornell U. Tech Campus

Media mogul and ex-New York City Mayor Michael Bloomberg is giving Cornell University $100 million to support construction of the school's new technology campus, reports The Wall Street Journal. The donation was to be formally announced Tuesday at a groundbreaking ceremony for the project on the city's Roosevelt Island.

Mr. Bloomberg's administration helped kick-start the Cornell Tech effort in 2012 with a land grant and $100 million in city capital for a new institution to help diversity New York's finance-heavy economy. He sits on the steering board of Cornell Tech, which is temporarily located in the Chelsea neighborhood pending completion of the Roosevelt Island site.