Current:Home > Contact-usBillionaire widow donates $1 billion to cover tuition at a Bronx medical school forever-Angel Dreamer Wealth Society D1 Reviews & Insights
Billionaire widow donates $1 billion to cover tuition at a Bronx medical school forever
View Date:2024-12-24 00:09:58
The widow of a billionaire financier made a landmark donation to cover tuition for students at a New York City medical school in perpetuity.
Ruth Gottesman donated $1 billion to the Albert Einstein College of Medicine in the Bronx Monday.
Gottesman, 93, is a former professor at the school who studied learning disabilities and created an adult literacy program. She is currently the chair of the board of trustees for the college.
The donation is the largest made to a medical school, according to the college.
"This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it," Yaron Tomer, the Marilyn and Stanley Katz Dean at Albert Einstein College of Medicine said in a news release announcing the donation. "Additionally, it will free up and lift our students, enabling them to pursue projects and ideas that might otherwise be prohibitive.
The Bronx is currently the unhealthiest county in New York State.
Where did the money come from?
Gottesman is the widow of David Gottesman, a protégé of Warren Buffett and an early investor in Berkshire Hathaway Inc., according to the New York Times.
David cofounded the investment firm First Manhattan Co., which managed over $20 billion in investments when he died in September 2022, according to Forbes.
Forbes estimated that Gottesman was worth $3 billion at the time of his death.
"He (David) left me, unbeknownst to me, a whole portfolio of Berkshire Hathaway stock,” Ruth Gottesman told the New York Times. Her husband had simple instructions for the inheritance: “Do whatever you think is right with it,” she said.
A condition of the gift is that the school cannot change its name, according to the Times.
How much does it cost to attend Albert Einstein College of Medicine?
The annual tuition to attend Albert Einstein College of Medicine's MD program is $59,458, according to the school's financial aid page.
Fourth-year students at the college will receive a reimbursement of their spring semester tuition.
veryGood! (43)
Related
- Why Amanda Seyfried Traded Living in Hollywood for Life on a Farm in Upstate New York
- Christina Hall Seemingly Shades Her Exes in Birthday Message to Son Brayden
- Ex-politician due to testify in his trial in killing of Las Vegas investigative journalist
- 'Major catastrophe': Watch as road collapses into giant sinkhole amid Northeast flooding
- 'Yellowstone's powerful opening: What happened to Kevin Costner's John Dutton?
- Utah lawmakers want voters to give them the power to change ballot measures once they’ve passed
- Miami-Dade Mayor Daniella Levine Cava cruises to reelection victory
- Will 7-Eleven have a new owner? Circle K parent company makes offer to Seven & i Holdings
- Cowboys owner Jerry Jones responds to CeeDee Lamb's excuse about curtains at AT&T Stadium
- Taylor Swift Breaks Silence on “Devastating” Cancellation of Vienna Shows Following Terror Plot
Ranking
- Bridgerton's Luke Newton Details His Physical Transformation for Season 3's Leading Role
- Committee says lack of communication, training led to thousands of dropped cases by Houston police
- Detroit judge is sued after putting teen in handcuffs, jail clothes during field trip
- Jennifer Lopez and Ben Affleck's Real Breakup Date Revealed
- To Protect the Ozone Layer and Slow Global Warming, Fertilizers Must Be Deployed More Efficiently, UN Says
- Oklahoma State football to wear QR codes on helmets for team NIL fund
- Education official announces last-ditch spending strategy for federal COVID-19 funds
- The Daily Money: How to avoid Labor Day traffic
Recommendation
-
Georgia State University is planning a $107M remake of downtown Atlanta
-
Mindy Kaling Gives Ben Affleck an Onstage Shoutout at DNC Amid Jennifer Lopez Divorce
-
Missouri man makes life-or-death effort to prove innocence before execution scheduled for next month
-
Government: U.S. economy added 818,000 fewer jobs than first reported in year that ended in March
-
13 Skincare Gifts Under $50 That Are Actually Worth It
-
Starbucks teases return of Pumpkin Spice Latte on social media: When might it come out?
-
Beloved 80-year-old dog walker killed in carjacking while defending her dogs
-
Questions remain as tech company takes blame for glitch in Florida county election websites