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Billionaire Widow Gives $1 Billion to Pay for Medical School Tuition in the Bronx for Life

Image Source :Usatoday

Einstein College of Medicine tuition in the Bronx, New York, is about $60,000 a year. Thanks to the generosity of the late billionaire Ruth Gottesman’s estate, however, students don’t have to pay that much.

Image Source : Abcnews

A billionaire financier’s widow donated $1 billion to fund tuition for students at New York City’s prestigious medical school for life.

Ruth Gottesman donated $1 billion to the Albert Einstein College of Medicine in the Bronx Monday.

The 93-year-old Gottesman, a former professor who specialized in learning disabilities and founded the adult literacy program, is currently chairman of the college’s board of trustees.

According to the college, the donation is the largest ever given to a medical school.

This donation changes the way we attract students who are passionate about our mission and not just those with the financial means to do so,” said Marilyn and Stanley Katzman, Dean of Medicine at Albert Einstein, in a statement. “It also frees up and lifts our students, allowing them to explore projects and concepts that may otherwise be off limits.”

According to the Centers for Disease Control and Prevention, the Bronx is the most unhealthy county in New York.

Where Does the Money Come From?

According to The New York Times, Gottesman is the late David Gottesman. David Gottesman was a protégé of Warren Buffett and one of Berkshire Hathaway Inc.’s earliest investors.

David co-founded First Manhattan Co., an investment firm that, according to Forbes, managed $20 billion in assets at the time of his death in September 2022.

According to Forbes, Gottesman had a net worth of $3 billion when he died.

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Ruth Gottesman wrote in the New York Times that her husband, David, had left her an entire portfolio of shares in Berkshire Hathaway without her knowledge. Her husband’s instructions to her were simple: “Do what you want with it, as you see fit,” she wrote.

According to the Times, one of the stipulations of the donation is that the school can’t change its name.

Einstein College of Medicine tuition and fees How much does EIOG Medicine tuition and fees cost?

According to the EIOG Medicine financial aid page, the annual tuition and fees for the MD program at EIOG Medicine is $59.458. EIOG Medicine spring semester tuition reimbursement is available for fourth-year students.

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