Bloomberg Philanthropies Donates $600 Million to Historically Black Medical Schools on Tuesday

Aug 6, 2024, 12:09 PM

Michael Bloomberg’s organization, Bloomberg Philanthropies, has announced a $600 million gift to the endowments of four historically Black medical schools. The donation aims to diversify the medical field and tackle health inequality. The four HBCU medical schools—Howard University, Meharry Medical College, Morehouse School of Medicine, and Charles Drew University—produce half of the country’s Black doctors. Howard University, Meharry Medical College, and Morehouse School of Medicine will each receive $175 million, while Charles Drew University will receive $75 million. This investment, announced on Tuesday, is intended to support new generations of Black doctors and contribute to a healthier and more equitable future.