1B Donation Transforms NYC’s Einstein College of Medicine; Dr. Ruth Gottesman’s Remarkable Gift

1B Donation Transforms NYC’s Einstein College of Medicine; Dr. Ruth Gottesman’s Remarkable Gift

Edited by: Fern Sidman

In a landmark act of generosity, Dr. Ruth Gottesman, the 93-year-old widow of Wall Street financier David Gottesman, has bequeathed an extraordinary $1 billion to the Albert Einstein College of Medicine in the Bronx, according to a recently published article in the New York Times. This monumental donation, one of the largest in U.S. educational history, comes with a profound stipulation: the funds are to be utilized to cover the tuition fees of all future students at the esteemed institution.

Dr. Gottesman, a former professor at Einstein with a distinguished career in studying learning disabilities and literacy programs, made this historic contribution from the fortune amassed by her late husband, known affectionately as Sandy. According to the information provided in the NYT report, David Gottesman, a protégé of legendary investor Warren Buffett, made an astute early investment in Buffett’s conglomerate, Berkshire Hathaway, which paved the way for this remarkable philanthropic gesture.

What sets this donation apart is not only its staggering magnitude but also its destination – a medical institution situated in the Bronx, the city’s poorest borough. The Bronx, plagued by high rates of premature mortality and labeled the unhealthiest county in New York, stands to benefit immensely from this act of altruism, the NYT report said. Unlike previous philanthropic endeavors that primarily focused on Manhattan’s more affluent medical institutions, Dr. Gottesman’s gift brings hope and opportunity to a community in dire need.

Expressing her profound motivation, Dr. Gottesman emphasized her desire to alleviate the financial burden of medical education, where student debt often surpasses $200,000. Her vision extends beyond mere financial relief; she hopes to diversify the student body, providing access to aspiring doctors who might otherwise be unable to pursue their dreams due to financial constraints.

Dr. Gottesman’s connection to Einstein runs deep. Joining the institution’s ranks in 1968, she served as director of psychoeducational services before assuming leadership roles within the board of trustees, where she currently holds the position of chairperson, as was noted in the NYT report. Her enduring bond with Dr. Philip Ozuah, the esteemed pediatrician overseeing Einstein and its affiliated Montefiore Medical Center, played a pivotal role in shaping her decision regarding the allocation of her late husband’s wealth.

In an intimate interview at Einstein’s Morris Park campus, Dr. Ozuah and Dr. Gottesman reflected on the transformative impact of the donation and its significance for future generations of medical students, the NYT report added. This unprecedented act of philanthropy not only eliminates financial barriers but also fosters a spirit of inclusivity and accessibility within medical education.

In the early hours of a 2020 morning, fate orchestrated an unexpected encounter between two individuals whose lives would become intertwined in a profound and meaningful way. The NYT report indicated that Dr. Gottesman and Dr. Ozuah found themselves seated side by side on a 6 a.m. flight to West Palm Beach, Florida – the beginning of a journey that would transcend mere coincidence.

As the hours stretched before them, they embarked on a journey of conversation, sharing anecdotes of their childhoods and professional endeavors. As was reported in the NYT, despite their differing backgrounds – Dr. Gottesman hailing from Baltimore and Dr. Ozuah from Nigeria – they discovered a striking commonality: both possessed doctorates in education and had dedicated their careers to serving the needs of vulnerable children and families in the Bronx.

Dr. Ozuah recounted his journey to New York, a solitary endeavor that eventually led him to become a prominent figure in the medical community, rising through the ranks to lead the very institution where their paths converged.

Little did they know, their encounter would soon be overshadowed by a global pandemic that would alter the course of their lives. When COVID-19 struck, Dr. Gottesman’s husband fell ill, prompting Dr. Ozuah to spring into action. The report in the NYT said that with unwavering dedication, he orchestrated medical assistance, ensuring the couple received the care they needed at Montefiore Medical Center, the renowned Bronx hospital he oversaw.

Despite the passing of Dr. Gottesman’s husband in 2022, his legacy endured through a substantial portfolio of Berkshire Hathaway stock he left in her hands. Empowered by his trust and a sense of purpose, Dr. Gottesman resolved to utilize this newfound wealth for the greater good, echoing the sentiment of her late husband’s simple instructions: “Do whatever you think is right with it.”

Initially overwhelmed by the weight of this responsibility, Dr. Gottesman’s children encouraged her not to delay in deciding how to utilize the bequest. The NYT report indicated that upon reflection, she realized her calling: to fund students at the Albert Einstein College of Medicine, ensuring that they could pursue their medical education without the burden of tuition fees in perpetuity.

The decision was deeply rooted in Dr. Gottesman’s personal experiences and observations. Over the years, she had interacted with numerous prospective medical students, witnessing firsthand the financial strain imposed by exorbitant tuition fees. The report in the NYT also said that at Einstein, where tuition exceeds $59,000 annually, nearly half of the students graduate with overwhelming debt, surpassing $200,000 in many cases – a stark contrast to other New York City medical schools.

Dr. Gottesman initially hesitated to attach her name to the generous gift. “Nobody needs to know,” she insisted to Dr. Ozuah. He recognized the potential impact of her life story, believing that others would find inspiration in her selfless dedication to the welfare of others.

Dr. Ozuah underscored the prevailing trend in the medical community, where substantial donations often secure naming rights for medical schools and hospitals. As was pointed out in the NYT report, institutions such as Cornell Medical College and New York Hospital proudly bear the surnames of philanthropists who have made significant contributions. For example, the renaming of New York University’s medical center to honor Ken Langone, a prominent figure in the business world, reflects a tradition of recognizing substantial donors.

However, Dr. Gottesman’s donation comes with a unique stipulation – the preservation of the Albert Einstein College of Medicine’s name. Since its inception in 1955, the institution has borne the name of the renowned physicist Albert Einstein, a decision that underscores its commitment to excellence and innovation in medical education.

In a world often characterized by grand gestures and public acclaim, Dr. Ruth Gottesman’s quiet generosity stands as a testament to the profound impact of selfless giving. Her decision to forego recognition in favor of empowering future generations of medical professionals speaks volumes about her character and values. As Einstein College of Medicine embarks on its tuition-free journey, it does so with gratitude for Dr. Gottesman’s transformative gift and a commitment to upholding the legacy of excellence embodied by its namesake.