Meet the Generous Lady Who Gave Away $1 Billion to Cover Tuition… Forever

American philanthropist and retired professor Dr. Ruth Gottesman has donated $1 billion to a medical school in the Bronx, New York’s poorest borough, to cover tuition for all students for perpetuity.

“I wanted to fund students at (Albert] Einstein [College of Medicine] so that they would receive free tuition,” explains Dr. Ruth Gottesman. “There was enough money to do that in perpetuity. We have terrific medical students, but this will open it up for many other students whose economic status is such that they wouldn’t even think about going to medical school.”

Dr. Gottesman, a former professor at Einstein, inherited her fortune from her husband, David Gottesman, former protégé of the magnate Warren Buffett. “Do whatever you think is right with [the whole portfolio of Berkshire Hathaway stock],” he instructed her in his will. It is one of the most significant charitable donations to an educational institution – and most likely the largest to a medical school – in the United States. Thanks to her generous donation, future students from all walks of life can start their careers without the debt burden – which often exceeds $200,000.