| Original story from Reuters February 26, 2024. I tell myself that if I ever came into a huge amount of money, I’d do something helpful like this; unlike some billionaires that waste their wealth on vanity projects like exploding poorly designed rockets, ruining a communication platform, or running for President. |
Unprecedented $1 Billion Donation Boosts Albert Einstein College of Medicine
In a historic move, former Albert Einstein College of Medicine professor, Dr. Ruth Gottesman, is contributing a staggering $1 billion to the New York City school. This monumental donation, the largest of its kind in the United States, aims to cover the tuition expenses of all students, as announced by the institution on Monday.
Generosity Rooted in Financial Legacy
Dr. Gottesman’s substantial donation stems from the wealth accumulated by her late husband, David “Sandy” Gottesman, a Wall Street financier and early Berkshire Hathaway investor who passed away in September 2022. Reflecting on this generous act, Dr. Gottesman expressed gratitude to her late husband and acknowledged the privilege of contributing to such a noble cause in a joint statement with the school.
Distinguished Career and Commitment to Education
Having joined the medical college in 1968, Dr. Gottesman has made significant contributions, particularly in the realm of child learning disabilities research and the establishment of an adult literacy program. Currently serving as the chair of the Einstein Board of Trustees and contributing to the Montefiore Health System’s board, the school’s affiliated hospital, Dr. Gottesman’s commitment to education is unwavering.
Impactful Transformation: Tuition Reimbursement and Future Opportunities
With this transformative donation, all current full-time students will witness a reimbursement of their spring 2024 semester tuition. Moreover, all future students are set to benefit by attending the school tuition-free. Given the approximate annual tuition of $60,000, this monumental gift alleviates the financial burden that often leaves graduates with over $200,000 in debt.
Empowering Access to Medical Education
The school emphasizes that the primary goal of this generous contribution is to attract a diverse pool of talented individuals who might otherwise be unable to pursue a medical education. In doing so, Dr. Gottesman’s gift stands as the largest ever bestowed upon a medical school in the nation, marking a significant milestone for medical education accessibility.
Bronx-Based Institution Addressing Health Disparities
Situated in the Bronx, the college serves approximately 1,100 students in an area that ranks last in New York state for health outcomes and factors, according to the University of Wisconsin Population Health Institute. This substantial donation is expected to have a lasting impact on the institution’s mission to address health disparities in the community.