In an unprecedented act of philanthropy, Dr. Ruth Gottesman, former faculty at Albert Einstein College of Medicine, has committed a monumental donation of $1 billion to the institution. This donation sets a new record for educational endowments in the United States, aiming to fully subsidize tuition for the New York City school’s students.
The generous bequest comes from the estate of Dr. Gottesman’s late husband, David “Sandy” Gottesman—a distinguished Wall Street financier and an early investor in Berkshire Hathaway—who passed away in September 2022.
During a recent announcement, Dr. Gottesman honored her husband’s memory, expressing gratitude for being entrusted with his legacy and the opportunity to support future generations of medical professionals. For years, Dr. Gottesman has played a pivotal role at the college and within the broader educational community, contributing to research on developmental learning challenges and advancing adult literacy. She also holds leadership positions with the Einstein Board of Trustees and the Montefiore Health System board.
Dr. Gottesman’s heartfelt donation is set to relieve the financial burden from medical students, covering the full tuition costs for all current full-time students in the upcoming spring semester and guaranteeing tuition-free education for all new entrants. In an era where medical education can leave graduates with debts exceeding $200,000, this initiative brings significant relief and inspiration. Typically, students face annual tuition fees approaching $60,000.
Aside from immediate financial alleviation, the overarching objective of Dr. Gottesman’s gift is to draw a wide array of talented individuals into the medical field, prioritizing those who may be impeded by the financial demands of medical education. The college, situated in one of New York’s most underserved areas health-wise, stands to significantly benefit from this gift, as it serves a community that has historically ranked lowest in the state for health metrics.
With this landmark contribution, Dr. Gottesman not only honors her husband’s legacy but also reinforces the capabilities of Albert Einstein College of Medicine to shape a new generation of medical practitioners undeterred by financial constraints.
