Michael Bloomberg’s organization Bloomberg Philanthropies says it will give $600 million to the endowments of four historically Black medical schools.
FILE - Michael Bloomberg , founder of Bloomberg Philanthropies and Bloomberg L.P, speaks at the COP28 U.N. Climate Summit, Dec. 1, 2023, in Dubai, United Arab Emirates. Bloomberg Philanthropies said Tuesday, Aug. 6, 2024, it will give $600 million to the endowments of the four historically Black medical schools. – Michael Bloomberg ’s organization Bloomberg Philanthropies is announcing a $600 million gift to the endowments of four historically Black medical schools.
In 2020, Bloomberg granted the same medicals schools a total of $100 million that mostly went to reducing the debt load of enrolled students, who schools said were in serious danger of not continuing because of the financial burdens compounded by the COVID-19 pandemic. "But our endowment and the size of our endowment has continued to be a challenge, and we’ve been very vocal about that. And he heard us," she said of Bloomberg and the latest donation.toward a pooled endowment fund for 37 HBCUs. That same month, Spelman College, a historically Black women’s college in Atlanta, received a $100 million donation from Ronda Stryker and her husband, William Johnston, chairman of Greenleaf Trust.
“This opportunity and this investment affects not only just those four institutions, but that affects our country. It affects the nation’s health,” she said.
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Bloomberg gives $600 million to four Black medical schools' endowmentsMichael Bloomberg’s organization Bloomberg Philanthropies says it will give $600 million to the endowments of four historically Black medical schools. The gifts being announced Tuesday are among the largest private donations to any historically Black college or university.
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