Bronx Medical School Receives Historic $1 Billion Donation for Student Tuition

Share on social

In a groundbreaking act of philanthropy, Ruth Gottesman has pledged to donate $1 billion in Berkshire Hathaway stock, inherited from her late husband, to the Albert Einstein College of Medicine located in the Bronx. This remarkable contribution is poised to ensure free tuition for medical students at the institution forever, marking a significant moment for medical education in New York City’s most economically challenged borough.

The announcement came as a heartwarming surprise to students and faculty alike, with a video capturing the emotional moment when students learned of the tuition waiver—leading to tears, cheers, and applause. Gottesman, a 96-year-old widow and a respected figure in the medical community, made the decision following her children’s advice to utilize the substantial Berkshire Hathaway stock bequest her husband left her unexpectedly in 2022.

Ruth Gottesman, who has a longstanding relationship with the Albert Einstein College of Medicine as a clinical professor emerita of pediatrics and a former chair of the school’s board of trustees, expressed her intent to support the education of future medical professionals without the burden of tuition fees. Her generous donation is expected to cover all current and future students’ tuition costs indefinitely, starting from August 2024, including a reimbursement for the current fourth-year students’ spring tuition.

This transformative gift stems from Gottesman’s deep-rooted philanthropic spirit, influenced by her late husband David “Sandy” Gottesman’s early investment in Berkshire Hathaway and his successful career in finance. The Gottesman family has been active in philanthropy for decades, with Ruth Gottesman founding The Gottesman Fund in 1965 to support various causes including education, health, and the Jewish community.

The donation is seen as a game-changer for the Albert Einstein College of Medicine, promising to attract a more diverse pool of applicants by eliminating the financial barrier to medical education. With the annual tuition exceeding $59,000, many students graduate with substantial debt, a challenge this donation aims to eliminate. Dr. Yaron Tomer, the dean of the college, highlighted the donation’s potential to revolutionize the school’s mission by attracting students committed to healthcare, regardless of their financial background.

The Albert Einstein College of Medicine and the broader educational community celebrate this unprecedented donation, recognizing Ruth Gottesman’s profound impact on the future of medical education and the lives of countless students who will now have the opportunity to pursue their dreams without the weight of financial strain.

Next News Network Team

Next News Network Team

Stay Updated

Get us in your inbox

By subscribing you agree to our Privacy Policy

New & Trending
Latest Videos
Follow us