A Woman Donates $1 Billion to Medical School to Eradicate Tuition Fees, but She Has One Condition

Following a substantial $1 billion contribution from a generous benefactor, a medical school in New York City aims to eliminate tuition fees for its students. Dr. Ruth Gottesman, a 93-year-old former professor at Albert Einstein College of Medicine located in the Bronx borough, made this significant donation to the institution. However, the money comes with one unique condition.

After inheriting a hefty sum from her husband, Dr. Ruth Gottesman decided to put it to good use.

Dr. Ruth Gottesman, the spouse of the late David Gottesman, who gained prominence as an early mentee of Warren Buffett and invested in Berkshire Hathaway, inherited his wealth with a simple directive: «do whatever you think is right with it.» According to Gottesman, her late husband left her a substantial portfolio of Berkshire Hathaway stock without her prior knowledge. In an interview with The New York Times, Gottesman disclosed her intention to utilize the wealth to provide students at Einstein with tuition-free education.

Shortly after that, the students at the medical school were announced that starting August this year, they will no longer need to pay tuition fees. Gottesman used a whooping $1 billion from the money she inherited to fund the students’ education. Upon hearing the news, everyone in the room broke out in cheers and smiles, some even shedding tears of joy.

Gottesman decided to use the funds to eradicate tuition at the medical school she works at.

93-year-old Ruth Gottesman has worked for more than 5 decades at the Albert Einstein College of Medicine. She used to be a professor at the Department of Pediatrics, ran a literacy program for disadvantaged kids, and currently still serves on the school’s board of trustees.

At Albert Einstein College of Medicine, a single year’s tuition exceeds $59,000, often resulting in graduates burdened with debts surpassing $200,000. Dr. Yaron Tomer, serving as the Marilyn and Stanley M. Katz Dean, emphasized the transformative impact of this donation. He stated that it fundamentally alters their capacity to draw students dedicated to their mission, rather than solely those financially capable. Moreover, it liberates students, empowering them to explore ventures and concepts that may have previously been financially inaccessible.

However, the donation comes with one string attached.

The generous donation, however, comes with an unexpected condition. Gottesman stipulated that the school refrain from altering its name. While this might not initially appear significant, it’s customary for substantial donations to universities to result in the donor’s name adorning buildings or institutions.

For Gottesman, retaining the original name was non-negotiable. And indeed, it’s challenging to surpass the prestige associated with one of history’s most revered scientists. Moreover, Gottesman preferred to keep her donation private. However, Philip Ozuah, the overseer of the medical college, highlighted the potential for her story to inspire others.

Dr Gottesman’s act of kindness is truly life-changing for many. But even much smaller good deeds can have a huge positive effect on the people around us.