Billion-Dollar Surprise: Ruth Gottesman's Generous Gift to Albert Einstein College of Medicine
- IndiaGlitz, [Wednesday,February 28 2024]
Recently, 97-year-old Ruth Gottesman received one of the greatest news in her lifetime: before his demise in 2022 at the age of 101, she found out that her husband had bequeathed her a $1 billion portfolio of Berkshire Hathaway stock. He had given her no specific instructionsâjust told her to do with it what she felt like doing.
At first, unsure of what to do with the unexpected windfall, Gottesman's children suggested she not dawdle too long. She ended up giving the entire sum to the Albert Einstein College of Medicine in the Bronx, New York City's poorest borough.
Her gift to our college is just so massive that it will cover medical students for life indefinitely, President Abey Kifle said. That includes reimbursing tuition for the spring semester, as well as the previous terms, for fourth-year students currently in the program. All current and incoming students, starting in August, will do so tuition-free.
Gottesman shared the news with students in person, and their reactions were nothing short of jubilant and appreciative. This donation exceeds any previous donation awarded to a medical school in the country.
Dr. Ruth Gottesman has been part of the Albert Einstein College of Medicine since 1968. During that time, she has served as a clinical professor emerita of pediatrics and as chair of the board of trustees.
He was an early investor in Warren Buffett's Berkshire Hathaway and later founded his own investment firm, First Manhattan Co.
The likely impact of Gottesman's gift on the Albert Einstein College of Medicine is incalculable. It will be able to reach out to a greater number of diverse students and allow them to take up projects and work on an idea that may, at present, just be too expensive to experiment with.