Stony Brook University Gets $150 Million Gift

STONY BROOK, N.Y. (CBSNewYork) -- It's the kind of gift that can vault Stony Brook into the upper tier of public colleges.

WCBS 880 Long Island Bureau Chief Mike Xirinachs On The Story

Hedge fund giant James Simons and his wife Marilyn are donating $150 million - the school's largest gift since the couple donated $60 million in 2008.

At a time when tuition is rising and state funding always seems to be in jeopardy, the Simons family is funding the construction of a new life sciences building and the endowment of new professorships.

"You're going to see this economy work, and Stony Brook is going to be a major engine in that economic resurgence," Gov. Andrew Cuomo said on Wednesday.

1010 WINS' Mona Rivera reports

James and Marilyn Simons are making the generous donation to a university they met at years ago.

As Marylin Simons explained to CBS2's Jennifer McLogan the couple has a strong personal connection to the school.

"I made many life long friends and even met my husband here," said Marylin.

"Jim and I still have a close relationship with this school, and it's great to see it growing, and getting better and better everyday," she added.

Simons was a math professor at the school before starting a hedge fund where he earned billions. His wife received her bachelor's and doctorate at Stony Brook.

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