NEW YORK -- Michael Bloomberg's organization Bloomberg Philanthropies committed $600 million to the endowments of four historically Black medical schools to help secure their future economic stability.
In 2022, only 6% of U.S. physicians were Black, even though Black Americans represent 13% of the population.
Almost half of Black physicians graduate from the four historically Black medical schools, Bloomberg Philanthropies said.
The gifts are among the largest private donations to any historically Black college or university, with $175 million each going to Howard University College of Medicine, Meharry Medical College and Morehouse School of Medicine.
Xavier University of Louisiana, which is opening a new medical school, will also receive a $5 million grant.
The donations will more than double the size of three of the medical schools' endowments, Bloomberg Philanthropies said.
The four historically Black medical schools are still deciding with Bloomberg Philanthropies how the latest gifts to their endowments will be used, said Garnesha Ezediaro, who leads Bloomberg Philanthropies’ Greenwood Initiative. »
