Bloomberg Donates $600 Million to Black Medical Schools

Bloomberg Philanthropies has announced a $600 million donation to the endowments of four historically Black medical schools. The beneficiaries are Howard University College of Medicine, Meharry Medical College, Morehouse School of Medicine, Charles Drew University of Medicine & Science, and Xavier University of Louisiana, which will receive $75 million and $5 million, respectively. This donation is among the largest private contributions to any historically Black college or university and will more than double the size of the endowments for three of these schools.

This philanthropic effort follows a previous $1 billion pledge by Michael Bloomberg to Johns Hopkins University, aimed at eliminating tuition for most medical students. The four medical schools are still determining how they will utilize the newly received funds. Bloomberg's initiative is part of broader efforts to address racial disparities in healthcare education and outcomes.