Dr. Ruth Gottesman’s billion-dollar gift to the Albert Einstein College of Medicine will enable the school to offer free tuition to medical school students. What a generous gift!
Ruth and Dave Gottesman
I had not heard of this couple until just recently and their generosity has lifted my spirits!
Dr. Ruth Gottesman is now a widow; her husband passed away in September of 2022 after they had been married for 72 years. Ruth’s husband, Dave (Sandy) was an early investor in Warren Buffet’s Berkshire Hathaway stock, Buffet’s friend, and a company board member. He co-founded First Manhattan Co. in 1964. At 96, Dave still served on the board of at least two large New York institutions.
A side note is that David’s mother, Esther, persuaded her brother-in-law to buy Dead Sea Scrolls and donate them to Israel. Think of the scholarly contributions!
Ruth and Dave had already given $330 million to charitable causes via their foundation. Her husband left Ruth a large portfolio of Berkshire Hathaway stock, instructing her to “do whatever you think is right with it.”
Ruth’s Connection with Albert Einstein College of Medicine
Ruth was a professor at Albert Einstein College of Medicine for many years, specializing in learning disabilities. She developed a screening test and ran literary programs. Dr. Gottesman’s association with the school began in 1968 and she now sits on the board of trustees as the chair.
The medical college is in the Bronx, New York City’s poorest borough. Most million-dollar gifts go to schools in the wealthiest borough, Manhattan. The Gottesman’s gift may be the largest or one of the largest gifts to any educational institution in the United States!
Medical school students often need to repay large loans after graduation. These size of these loans can discourage students from applying to medical school. Dr. Gottesman hopes that free tuition will allow the students who could not afford those loans to attend medical school. More than half of Einstein’s student graduates owe more than $200,000 after graduation. The average medical school’s rate is 25 percent.
Dr. Gottesman’s Trust in Einstein and Its Leader
Ruth is good friends with Dr. Philip Ozuah who oversees both the medical college and its affiliated hospital, Montefiore Medical Center. One reason she entrusted the money to the institution is that she has faith in Dr. Ozuah.
Ruth said that helping a diverse group of students become doctors is important.
That’s what makes me very happy about this gift. I have the opportunity not just to help Phil, but to help Montefiore and Einstein in a transformative way—and I’m just so proud and so humbled—that I could do it.
Although Dr. Gottesman initially suggested that her donation be anonymous, Dr. Ozuah encouraged her to reconsider because others might find the story inspiring.
Inspiration
I find Dr. Ruth Gottesman and others like her inspiring. These others include the Gates’ Foundation’s Bill Gates and Melinda Gates, Yield Giving’s MacKenzie Scott, and Warren Buffet. All have big plans for helping others with their wealth.
Doug Tompkins (of Northface and Esprit) and Kristine McDivitt purchased 2 million acres in Chile and Argentina, a very biodiverse area, for preservation. The Chilean president then pledged to put aside other land for the same purpose. Yvon Chouinard, the founder of Patagonia, gave the company to a trust and a nonprofit to ensure that all its profits combat climate change and protect undeveloped land globally.
Many people in the U.S. and around the world live in desperate situations. Having the capacity to improve their lives or heal the earth must be profound. I am grateful for those who can and do give a generous gift.
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