The Bronx Medical school gets donation

[Saleen836]

Wow!
That is some dontaion, hopefully it gets used as intended and does some good

https://www.businessinsider.com/ruth-gottesman-don...

[Tango13]

Wow!!

You really have to admire anyone that's prepared to put their money where their mouth is like that.

It would be great to be able to see a hundred years into the future and see just how much her donation has helped.

[Don Roque]

I'm sure the faculty and the board at the school will find a way to make that last at least a decade or so.

[normalbloke]

That’s humbling stuff. In perpetuity.

[texaxile]

Finally some uplifting and good news in NPE that hopefully won't end up in a massive argument.

[119]

Whilst that is fantastic, some may argue that students may become a little less focussed if they didn't have to pay for it out of their own pockets.

[rpguk]

What a lovely story and I bet she'll get more joy from this than any yacht or mansion could bring.

I assume this capital amount will be invested and the interest used to pay for the fees, over real long term these sorts of things can grown hugely. The Harvard endowment stands at around $50Bn

[hidetheelephants]

119 said:

Whilst that is fantastic, some may argue that students may become a little less focussed if they didn't have to pay for it out of their own pockets.

It only covers tuition; they still have accommodation, food, and all other overheads, if that's much less than $15-20k a year they will be doing well.

[ZedLeg]

Anything that keeps kids from going hundreds of thousands of dollars into debt before they’ve even started working has to be applauded.

[InformationSuperHighway]

All of this good coming from $1bn

Imagine the good that Musk et al could do.. but choose not to.

[greygoose]

rpguk said:

What a lovely story and I bet she'll get more joy from this than any yacht or mansion could bring.

I assume this capital amount will be invested and the interest used to pay for the fees, over real long term these sorts of things can grown hugely. The Harvard endowment stands at around $50Bn

Might as well just sell a few shares a year and leave it in Berkshire Hathaway, they seem to have done ok growing the pot so far.

[Hereward]

What a great story. Nice to see the power of capitalism being put to good use for once!

[valiant]

InformationSuperHighway said:

All of this good coming from $1bn

Imagine the good that Musk et al could do.. but choose not to.

I seriously don’t know why billionaires hold onto their money as tightly as they do. I know that a lot of that wealth is tied up in their companies but they must a few quid ‘liquid’ and once you’ve bought the enormous yacht , several houses and obligatory Gulfstream, why not do something amazing that would help others as she has done.

A billion quid is such a massive amount of money that could be transformational but instead they hold onto the bulk of it like a baby with a lollipop.

[21TonyK]

It’s a great thing to do and not to be sneered at yet when gates and buffet give away 50billion it’s a conspiracy.

[toasty]

valiant said:

InformationSuperHighway said:

All of this good coming from $1bn

Imagine the good that Musk et al could do.. but choose not to.

I seriously don’t know why billionaires hold onto their money as tightly as they do. I know that a lot of that wealth is tied up in their companies but they must a few quid ‘liquid’ and once you’ve bought the enormous yacht , several houses and obligatory Gulfstream, why not do something amazing that would help others as she has done.

A billion quid is such a massive amount of money that could be transformational but instead they hold onto the bulk of it like a baby with a lollipop.

Many have joined the Giving Pledge, promising to donate the majority of their wealth to charitable causes. https://givingpledge.org/pledgers

There's only so much money you can spend on yourself.