Albert Einstein College of Medicine Receives $1 Billion Donation

bronx medical school receives 1 billion dollar donation to provide free tuition
Bronx Med School Receives $1 Billion DonationMichael M. Santiago - Getty Images

"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links."

In major philanthropic news today, Dr. Ruth Gottesman has donated $1 billion to the Albert Einstein College of Medicine—ensuring free tuition for all students going forward.

Dr. Gottesman, 93, is the widow of David Gottesman, a protégé of Warren Buffett. David passed away in 2022, and left his wife his portfolio of Berkshire Hathaway stock. She recalled his advice: "Do whatever you think is right with it."

In an interview with the New York Times, she says she knew immediately what she wanted to do: "I wanted to fund students at Einstein so that they would receive free tuition." She used to teach at Einstein, where, per the Times, "she studied learning disabilities, developed a screening test and ran literacy programs." She initially wanted to make her donation anonymous, but decided not to—the only caveat being she didn't want the school to change its name.

Dr. Philip Ozuah, President and CEO of Montefiore Einstein, announced the news this morning, calling the gift "historic" and "transformative." "I believe we can change healthcare history when we recognize that access is the path to excellence. With this gift, Dr. Gottesman will fund excellence in perpetuity and secure our foundational mission of advancing human health," Dr. Ozuah said in a statement.

It is thought to be the largest donation to any medical school, ever, in the country. Per a news release, the donation "will enable generations of healthcare leaders who will advance the boundaries of research and care, free from the burden of crushing loan indebtedness."

"This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it. Additionally, it will free up and lift our students, enabling them to pursue projects and ideas that might otherwise be prohibitive. 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," Dr. Yaron Tomer, the Marilyn and Stanley Katz Dean at Albert Einstein College of Medicine, said in a statement.

All current fourth-year students will be reimbursed for the spring tuition, and starting in August, all students will have free tuition.

You Might Also Like