Actual billionaire and respected former New York City mayor Michael Bloomberg continues to use his wealth to fund educational enterprises: speaking at the National Medical Association, a group that advocates for Black medical professionals, Bloomberg announced a $600 million donation to a number of historically Black medical schools.
CBS News reports that Howard University College of Medicine, Meharry Medical College and Morehouse School of Medicine will receive $175 million each, while Charles Drew University of Medicine & Science will receive $75 million. Xavier University of Louisiana will get $5 million for a medical school it is in the process of establishing.
The funding is part of Bloomberg Philanthropies’ Greenwood Initiative, named after the predominantly Black neighborhood wiped out during the Tulsa massacre of 1921, to decrease the racial gap in access to education and ways to build wealth.