In a remarkable event, a 93-year-old widow named Ruth Gottesman donated her late husband's $1 billion fortune to support school tuition in New York City's poorest areas indefinitely.
She claimed that this act is set to transform the lives of countless students and create a lasting impact on education.
Ruth Gottesman decided to donate $1 billion her husband left for her to the poorest area of New York
Ruth Gottesman was the wife of David Gottesman, a Wall Street financier who made early investments in Berkshire Hathaway, a multinational conglomerate holding company.
After David's passing in 2022, Ruth discovered that he had amassed a staggering $1 billion in stocks and left Ruth a message to use it for the greater good.
Instead of indulging in personal luxuries, Ruth decided to use the entire sum towards a meaningful cause.
The fortune was directed to the Albert Einstein College of Medicine in the Bronx, the most economically disadvantaged borough in New York.
This contribution stands as the largest ever made to any medical school in the country.
Ruth had previously worked at this esteemed medical institution, starting as the director of psychoeducational services in 1968, as reported by The New York Times.
Despite being retired, Ruth Gottesman, a clinical professor Emerita of pediatrics, continues to contribute her expertise and leadership as the chair of trustees for the school.
During an interview, the 93-year-old philanthropist expressed her surprise at the large sum of money her late husband had accumulated and left for her.
"He left me, unknown to me, a whole portfolio of Berkshire Hathaway stocks," she revealed.
Ruth's donation helps many students at Albert Einstein College
Thanks to her remarkable donation, all current fourth-year students will have their tuition reimbursed for the spring 2024 semester.
Additionally, all future students starting in the fall will receive free tuition.
According to reports, Albert Einstein College of Medicine's tuition exceeds $59,000 per year, and this donation of Ruth will provide life-changing opportunities for aspiring medical professionals from disadvantageous backgrounds.
The positive impact of Ruth's $1 billion donation on education in the Bronx, New York's poorest borough.
The generosity of Ruth's donation was recognized by Dr. Yaron Tomer, the Marilyn and Stanley Katz Dean at Albert Einstein College of Medicine.
He expressed gratitude for Ruth's contribution and highlighted how it will revolutionize the college's ability to fulfill its mission and attract dedicated students.
With this historic gift, the college will continue to produce diverse physicians who will provide compassionate care to communities in the Bronx and beyond.
