Bloomberg to Give $100 Million to Black Medical Schools

Bloomberg to Give $100 Million to Black Medical Schools

DealBook Business and PolicyThe billionaire's gift is meant to ease students' debts and free them to serve in needy communities.The gift is the first major donation by Mr. Bloomberg's Greenwood Initiative, a philanthropic effort meant to address the systemic economic inequity faced by Black Americans.Credit...Sue Ogrocki/Associated PressBy Michael J. de la Merced and Andrew Ross SorkinIn the midst of the pandemic, Michael R. Bloomberg is focusing on a unique way to improve the health of Black communities: by giving money to Black students studying to become doctors.The former New York City mayor plans to announce on Thursday that his philanthropic organization will give $100 million to four historically Black medical schools.The immediate goal is to reduce medical students' financial burdens by giving about 800 of them up to $100,000 in