Bloomberg Philanthropies Donates $600 Million to Historically Black Medical Schools, Including $175 Million Each to Three

Aug 6, 2024, 01:40 PM

Michael Bloomberg's philanthropic organization, Bloomberg Philanthropies, has announced a historic $600 million gift to the endowments of four historically Black medical schools. The funds will be allocated as follows: $175 million each to Howard University College of Medicine, Meharry Medical College, and Morehouse School of Medicine, and $75 million to Charles Drew University of Medicine and Science. Additionally, $5 million will be given to Xavier University of Louisiana, which is opening a new medical school. This donation, part of the Greenwood Initiative, aims to support the training of future Black doctors and address health inequality. The gift, the largest-ever to these institutions, is expected to more than double the endowments of three of the four schools, significantly enhancing their capacity to educate and empower Black medical professionals.