Four HBCU Medical Schools Receive $600 Million Donation From Michael Bloomberg

Source: The Washington Post / Getty

F ormer New York City Mayor Michael Bloomberg is in a giving mood.

The billionaire is steadily giving away a lot of his wealth, and the latest recipient is a couple of Historically Black College and University (HBCU) medical schools.

It started when the presidents of the four schools—Howard University College of Medicine in Washington, D.C., Morehouse School of Medicine in Atlanta, and Charles R. Drew University of Medicine and Science in Los Angeles—were invited to a meeting last week in New York with Bloomberg Philanthropies.

The representatives initially thought it had something to do with the $100 million Bloomberg donated to the school in 2020 to help with student debt, but it turned out to be the gift that keeps on giving when the foundation revealed they were each being gifted an additional $175 million.

Nashville’s Meharry Medical College was also contributed a $75 million gracious gift this time around, bringing the grand total to $600 million.

The 9-figure donation is part of Bloomberg Philanthropies’ Greenwood initiative, which aims to build wealth among Black communities to aid them historically being marginalized.

The former Mayor said in a statement that his goal is to equal the playing field for Black students entering the medical field and bring quality health care to Black patients.

“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 from all backgrounds can pursue their dreams,” Bloomberg said.

Dr. Yolanda Lawson, the present of the National Medical Association, says the donation will greatly be appreciated by the next generation of Black doctors who won’t be so burdened by crippling debt.

“I’m excited for what this history-making gift will mean for Black physicians, Black medical school students and faculty and communities across the United States,” Dr. Yolanda Lawson, president of the National Medical Association, said in a statement. “This investment will directly improve the pipeline for Black physicians and help to close the health care disparity gap.”

If Bloomberg is looking for another HBCU medical school to receive a donation, hopefully, he’ll remember that Xavier University of Louisiana announced its medical school back in 2022 and is currently going through a three-year-long accreditation process.

See how hyped social media is about Bloomberg’s donation below.