The donation has been described as ‘transformational’
Students at a medical school in one of the poorest areas of New York City will never have to pay tuition fees again after a $1 billion donation from a widow.
Dr Ruth L. Gottesman decided to make the staggering donation to Albert Einstein College of Medicine in the Bronx after having worked at the college for more than five decades.
Her husband, David ‘Sandy’ Gottesman, passed away in 2022 at the age of 96 and had been a Wall Street financier. Following his death, Ruth discovered he had $1bn in stocks thanks to early investments he had made in a Berkshire Hathaway, a multinational conglomerate holding company.
Ruth told the New York Times that her late husband had told her to “do whatever you think is right” with the money, so she decided to make one of the biggest donations ever to a US school.
She said she immediately knew what to do with the money, saying: “I wanted to fund students at Einstein so that they would receive free tuition.
“There was enough money to do that in perpetuity.”
You can watch the moment students were told about the donation below.
The Bronx is the poorest borough in New York City and is also ranked the unhealthiest county in New York state.
Tuition at the medical school is almost $59,000 (£46,500) a year.
In a statement, the school said students in their final year will be reimbursed for their spring 2024 tuition, and from August, all students, including those who are currently enrolled, will receive free tuition.
University dean Dr Yaron Tomer described the donation as “transformational”, and said it “radically revolutionises our ability to continue attracting students who are committed to our mission, not just those who can afford it”.
Dr Tomer continued: “We will be reminded of the legacy this historic gift represents each spring as we send another diverse class of physicians out across the Bronx and around the world to provide compassionate care and transform their communities.”
Ruth had started working at Einstein College in 1968. After studying children’s development and learning disabilities, she went on to become the Chair of the Einstein Board of Trustees.
Ruth that doctors who train at Einstein College “leave as superbly trained scientists and compassionate and knowledgeable physicians, with the expertise to find new ways to prevent diseases and provide the finest health care to communities here in the Bronx and all over the world.”
She added: “I am very thankful to my late husband, Sandy, for leaving these funds in my care, and l feel blessed to be given the great privilege of making this gift to such a worthy cause.”
Speaking about what her husband would think of the donation, she said: “I hope he’s smiling and not frowning. He gave me the opportunity to do this, and I think he would be happy – I hope so.”
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