Sandy Weill, former Citigroup chairman, told CNBC that philanthropy isn’t just about money.

In an interview with CNBC's Mary Thompson, Weill said giving is about your talent and passion. He urged others to start giving when they’re young and before they have money. He said it’s important to give of your intelligence, energy and passion.

Weill and his wife, Joan, donated $250 million to the Weill Cornell Medical College. He says the money will be used to build a new research facility in New York and to recruit 100 scientists who will focus on diabetes, obesity, cancer and problems of aging such as Alzheimer’s disease.

The reward is working with “really bright people” and showing those in need that “they’ll have a good chance to have a better life.”