Michael Bloomberg invests $600 million in US Black medical schools

Michael Bloomberg invests $600 million in US Black medical schools

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Pallavi Pathak
Assistant Manager Content
New Delhi, Updated on Aug 7, 2024 12:26 IST

The Black medical schools which have received this grant are - Morehouse School of Medicine, Meharry Medical College, Howard University’s College of Medicine, and the Charles R. Drew University of Medicine & Science.

Michael Bloomberg invests $600 million in US Black medical schools

Image source: The Hill

Study in US: The philanthropist and former mayor of New York City, Michael Bloomberg gave $600 million to four Black medical schools in the US. The gift is under Michael Bloomberg's Greenwood initiative which “seeks to accelerate the pace of wealth accumulation for Black individuals and families and address systemic under investment in Black communities.”

“We have much more to do to build a country where every person, regardless of race, has equal access to quality health care – and where students of all backgrounds have an equal opportunity to pursue their dreams. Diversifying the medical field and tackling health inequality are society-wide challenges, and Bloomberg Philanthropies is committed to helping to lead the way in tackling them. This gift builds on our earlier investment in these vital institutions, and it will help new generations of Black doctors build a healthier and more equitable future for our country," Bloomberg said during the announcement, as reported by Forbes.

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About four recipients of Bloomberg's investment

The four Black medical schools which received the grant include - Morehouse School of Medicine, Meharry Medical College, Howard University’s College of Medicine, and the Charles R. Drew University of Medicine & Science. The biggest donation was received by Meharry Medical College which got $175 million.








Three of these four Black medical schools will get to double their current endowments.

Tony Allen, Chair of the President’s Board of Advisors on Historically Black Colleges and Universities, and Glenda Glover, Vice Chair said in a joint statement, “Because of your gift, the schools’ financial stability and institutional capacity to respond to the rising costs of tuition, innovative research, and operations will be bolstered.... Because of your gift, Black physicians will be better supported on their quest for professional training and social mobility; in turn, not only their well-being but that of their patients will be enhanced, too.”







“This investment will directly improve the pipeline for Black physicians and help to close the health care disparity gap," said Yolanda Lawson, President of the National Medical Association, the nation’s largest and oldest organization representing Black physicians.

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Pallavi Pathak
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With over 11 years of dedicated experience in the field of Study Abroad consulting and writing, Pallavi Pathak stands as a seasoned expert in providing compelling news articles and informative pieces tailored to the... Read Full Bio

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