Billion Dollar Gift to Cover Tuition
The widow of a prominent Wall Street investor has donated $1 billion to a Bronx medical school for tuition for all future students.
The gift from Ruth Gottesman, 93, is the largest-ever to a US medical university and comes from the fortune left behind by her late husband, David ‘Sandy’ Gottesman.
A protégé of Warren Buffet, Sandy passed away aged 96 in late 2022, leaving behind a hefty stock portfolio filled with shares of Buffet’s hallowed Berkshire Hathaway, each valued at $618,080.
His only instructions to his wife of 72 years of what to do with it? ‘Do whatever you think is right,’ his will said.
Dr. Gottesman, in turn, donated $1billion of it to the Albert Einstein College of Medicine on Monday. She instructed that the gift be used to cover tuition for all students going forward.
‘I’m happy to share with you that starting in August this year, the Albert Einstein College of Medicine will be tuition free,’ Gottesman – who once taught at Einstein – announced in front of her alma mater Monday to uproarious applause.
The reaction was swift and earnest, with several students seen shedding tears as others jumped in celebration.
A standing ovation ensued, and the clip was quickly added to X.
Within a few hours, it had been viewed more than 20,000 times, eliciting a chorus of praise from those online.
Their joy brought tears to my eyes; one person wrote. This is what we need more of in this country. Billionaires really could help if they wanted to.’
I hope he’s smiling and not frowning, she said of what her husband might think of the gift from beyond the grave. But he gave me the opportunity to do this, and I think he would be happy.