Bloomberg Donates $600M to HBCU Medical Schools

Michael Bloomberg's charitable organization, Bloomberg Philanthropies, has announced a $600 million donation to the endowments of four historically Black medical schools: Meharry Medical College, Howard University College of Medicine, Morehouse School of Medicine, and Charles R. Drew University of Medicine & Science. Each of the first three schools will receive $175 million, while Charles R. Drew University will receive $75 million. This donation aims to address systemic funding inequities and support the schools' commitments to diversifying the medical field, enhancing financial stability, and reducing student debt. Additionally, $5 million will support the creation of the Xavier Ochsner College of Medicine in New Orleans. Bloomberg emphasized that increasing the number of Black doctors is essential for improving health outcomes in Black communities and ensuring equitable healthcare access. This initiative is part of Bloomberg Philanthropies' Greenwood Initiative, which focuses on advancing racial wealth equity.