Connect with us

Top News Mix

Top News Mix

Bloomberg gives $100M to historically Black medical schools


Uncategorized

Bloomberg gives $100M to historically Black medical schools

Former New York Mayor Michael Bloomberg is giving about $100 million to four historically Black medical schools over the next four yearsSeptember 3, 2020, 6:23 PM• 2 min readATLANTA — Former New York Mayor Michael Bloomberg is giving about $100 million to four historically Black medical schools over the next four years, with students getting…

Former New York Mayor Michael Bloomberg is giving about $100 million to four historically Black medical schools over the next four years

September 3, 2020, 6:23 PM

2 min read

ATLANTA — Former New York Mayor Michael Bloomberg is giving about $100 million to four historically Black medical schools over the next four years, with students getting up to $100,000 apiece.

Bloomberg, a billionaire who made his fortune with the news and financial media organization that he owns, said he wants to increase the number of African American doctors by reducing the debt burden of students.

“More Black doctors will mean more Black lives saved, and fewer health problems that limit economic opportunity,” Bloomberg said in a statement.

Bloomberg is giving $34 million to Meharry Medical College in Nashville, Tennessee, $26.3 million to the Morehouse School of Medicine in Atlanta, $7.7 million to Charles R. Drew University of Medicine in Los Angeles and $32.8 million to Howard University College of Medicine in Washington.

Students currently in years two, three and four of medical school will get retroactive scholarships of up to $25,000 a year, the schools said. Morehouse, Drew and the Howard medical schools said the amount is their largest-ever gift.

Real Life. Real News. Real Voices

Help us tell more of the stories that matter

Become a founding member

Morehouse School of Medicine President Dr. Valerie Montgomery Rice said the gift will “lift the crushing burden of student debt,” while Meharry Medical College President Dr. James E.K. Hildreth said the money will help students choose to practice primary care medicine instead of higher-paying specialties, “allowing them to make decisions about where and how they practice based on their passion, not a paycheck.”

Bloomberg says its the first gift from his philanthropy arm’s Greenwood Initiative, named for the African American neighborhood in Tulsa, Oklahoma, that was the site of the 1921 Tulsa Race Massacre. The initiative seeks to build generational wealth for Black families and increase investment in Black communities and institutions.


ABC News


Subscribe to the newsletter news

We hate SPAM and promise to keep your email address safe

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top Stories




To Top