Transformative Philanthropy: 93-Year-Old Donates $1 Billion

The future of healthcare in New York City just received an extraordinary and heartfelt billion-dollar boost. Ruth Gottesman, a 93-year-old philanthropist known for her immense generosity, donated a staggering sum to a medical school in the Bronx. Behind this historic gift lies a profoundly heartwarming story.

In the United States, one of the world’s wealthiest nations, the shortage of doctors, especially primary care physicians, is a growing concern. This critical shortage partly stems from the crippling burden of medical school debt, which deters many aspiring doctors from following their dream careers.

However, a recent act of unprecedented generosity by Ruth Gottesman has the potential to be a truly transformative game-changer. 93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

Ruth donated an astounding $1 billion to the Albert Einstein College of Medicine in the Bronx, New York. This monumental gift ensures that all future medical students at Einstein will graduate debt-free. Ruth expressed:

“We have phenomenal medical students, but this will create opportunities for many others whose economic circumstances would have otherwise been a barrier to their dreams.”

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

Ruth, a former professor at Einstein and the current chair of the board of trustees, inherited the immense fortune from her late husband, David Gottesman.

David, a successful Wall Street financier, was a protégé of Warren Buffett and made an early investment in Berkshire Hathaway. This savvy investment ultimately provided Ruth the resources to embark on her transformative journey in healthcare and education.

The Heart of the Matter

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

Ruth’s commitment to healthcare and education goes far beyond this recent donation. A retired pediatrics professor, she spent over 55 years affiliated with Einstein, championing crucial initiatives like developing a learning disabilities screening test and running literacy programs. Ruth witnessed firsthand the financial barriers faced by potential medical students and envisioned her donation as a bridge that would open doors for those from lower-income backgrounds, making it possible for them to consider a medical career.

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

The location of the college is particularly significant. Situated in the Bronx, one of New York City’s most underserved communities, the school stands at the heart of an area facing a severe doctor shortage. Ruth’s vision goes beyond merely eliminating debt; she hopes to inspire future graduates to serve in areas where healthcare access is limited.

Experts predict a staggering shortfall of over 124,000 physicians in the U.S. by 2034. However, Ruth’s transformative donation has the potential to graduate thousands of new medical professionals over the coming years, significantly alleviating this shortage.

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

An Unexpected Friendship

Ruth’s decision to donate this vast sum was influenced by her close relationship with Dr. Philip Ozuah, CEO of Montefiore Medical Center and overseer of Einstein College. Their bond formed in early 2020 during a flight to West Palm Beach, Florida. 93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

As they exchanged memories — Ruth recalling her upbringing in Baltimore and Dr. Ozuah sharing his experiences in Nigeria — they discovered common ground in their education and careers. Both held doctorates in education and had ties to the same Bronx institution.

Their friendship deepened during the early days of the COVID-19 pandemic. When David contracted the virus, Dr. Ozuah made daily house calls to check on the Gottesmans. He recalled:

“That’s how the friendship evolved. I visited them in Rye every day for about three weeks.”

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

Around three years ago, Dr. Ozuah asked Ruth to head the medical school’s board of trustees. Despite her age, she accepted, drawing inspiration from the fable about the lion and the mouse. She shared that when the lion spared the mouse’s life, the mouse told the lion, “Maybe someday I’ll be helpful to you.” The lion laughed, but in Ruth’s life story, Dr. Ozuah did not laugh.

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

A Legacy of Love

Sadly, David passed away in 2022 at the age of 96, leaving Ruth with a substantial portfolio of Berkshire Hathaway stock. Ruth recounted:

“He left me, unbeknownst to me, a whole portfolio of Berkshire Hathaway stock.”

David’s guidance was simple and heartfelt: he asked Ruth to listen to her heart and do what she believed was best. Initially overwhelmed, Ruth considered her options and was encouraged by her children not to delay for too long.93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

Finally, with clarity and purpose, Ruth knew what she had to do. She revealed, “I wanted to ensure Einstein’s medical students received free tuition.”

The Albert Einstein College of Medicine is a prestigious institution, but the cost of attendance can be a significant hurdle. Tuition currently exceeds $59,000 annually, leaving many graduates with debt exceeding $200,000. This financial burden often influences career choices, pushing graduates toward higher-paying specialties rather than primary care, crucial for underserved communities.

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

An Unseen Impact

Nearly half of Einstein’s current first-year medical students are New Yorkers, with a significant portion being women. About 48 percent of current medical students at Einstein are white, 29 percent are Asian, 11 percent are Hispanic, and 5 percent are Black. Ruth’s hope is that by eliminating the debt burden, graduates will pursue their passions and serve the communities most in need.

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

“That’s what makes me very happy about this gift,” Ruth shared. “I have the opportunity not just to help Phil but to support Montefiore and Einstein in a transformative way – and I’m deeply proud and humbled.”

She hoped her late husband felt proud of her decision. Ruth admitted he gave her a unique opportunity, and she hoped he would feel joy knowing how she spent the fortune he left. She said:

“I hope he’s smiling and not frowning.”

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

When it was time to name the donation, Ruth preferred to remain anonymous. “Nobody needs to know,” she said. However, Dr. Ozuah convinced her that sharing her story could inspire others.

While many donations result in renaming buildings, Ruth insisted that the college retain its name, honoring its namesake, the renowned physicist Albert Einstein. Her $1 billion donation will forever transform the landscape of medical education in the Bronx. 93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

By removing financial barriers, Ruth has opened doors for countless aspiring doctors who might otherwise be unable to afford such an education. Her gift honors her husband’s memory and sets a powerful precedent for philanthropy addressing systemic inequities in healthcare and education.

The Bronx, with its myriad challenges, now possesses a powerful tool to improve health outcomes thanks to Ruth Gottesman’s unwavering generosity and vision.

My Family Cut Me off for ‘Wasting’ Their Inheritance on My Education — What They Did at My Graduation Stunned Me

I was sitting on the sofa, my favorite place and pastime, glancing at my sons, Ryan and James, who were visiting and watching TV. They looked tense, eyes flicking between me and each other. The silence stretched until I couldn’t bear it anymore. 93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

Finally, I summoned the courage to say what had been on my mind for months: “I’ve decided to enroll at the university,” I said, voice steady. “I’m using most of the family inheritance savings to pay for it.”

Ryan’s face turned beet red. “You’re kidding, right? That money is for the family, Dad, for all of us. You can’t just waste it like that!”

James chimed in, voice colder. “What about our futures? Why spend Mom’s savings on an education you might not even finish because of your age? You have grandkids who need school tuition, and you want to drop Grandma’s savings on some random degree?”

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

“I need this,” I replied. “After your mother —” my voice cracked, “— passed, I need something to hold on to, something meaningful. Education has always been important to us.”

Ryan slammed his fist on the table. “This is ridiculous! You’re selfish. It’s like you don’t care about us or what we need.”

“Selfish?” I felt a pang of anger. “Your mother would have understood. She always wanted me to pursue my dreams, and I need to honor that.”

93-Year-Old Widow Donates Late Husband's $1 Billion to Cover Medical School Tuition in NYC’s Poorest Borough

93-Year-Old Widow Donates Late Husband

But their faces were set. I knew they wouldn’t budge. The argument went on for hours, but in the end, I walked away, resolved to follow through with my decision.

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