Woman who interited late husband's stocks worth $1 billion gives it all away: "I hope he's smiling..."

There are a number of things people think of doing when they inherit a large sum of money. While charity is one of those things alongside investment and splurging on luxury, giving it all away is rarely something one would do. In 2022, Dr. Ruth L. Gottesman lost her husband, David Gottesman, a well-known Wall Street investor who was involved in Berkshire Hathaway's early investment. However, the 96-year-old widow found that David had amassed a staggering $1 billion in stocks, so she received much more than just memories. Ruth was permitted to use that money however she saw fit. Therefore, she came up with the brilliant idea to donate the entire amount to a cause close to her heart instead of indulging herself with an expensive vacation.

Ruth's remarkable $1 billion donation had a long-lasting effect at the Albert Einstein College of Medicine in the Bronx, New York. This was the biggest gift ever received by a U.S. medical school, the college said about the historic donation. As a former pediatrics professor and chair of the board of trustees, Ruth had a long history with the institution and started her career there in 1968. According to the institution, the contribution aims to draw in intelligent students who might not have otherwise had the chance to pursue a career in medicine, a step that could change the course of healthcare in the future, as reported by The New York Times.

During the interview, Ruth said, “We have terrific medical students, but this will open it up for many other students whose economic status is such that they wouldn’t even think about going to medical school." She added, “That’s what makes me very happy about this gift. I have the opportunity not just to help Phil, but to help Montefiore and Einstein in a transformative way — and I’m just so proud and so humbled — both — that I could do it.” Ruth occasionally wonders how her late husband would have reacted to her choice. She said, “I hope he’s smiling and not frowning. But he gave me the opportunity to do this, and I think he would be happy — I hope so.”

Ruth's statement also said, “Each year, well over 100 students enter Albert Einstein College of Medicine in their quest for degrees in medicine and science. They leave as superbly trained scientists and compassionate and knowledgeable physicians, with the expertise to find new ways to prevent diseases and provide the finest health care to communities here in the Bronx and all over the world." As reported by NBC New York, Dr. Yaron Tomer, Dean at Albert Einstein College of Medicine, also said, "It will free up and lift our students, enabling them to pursue projects and ideas that might otherwise be prohibitive."

Ruth has been a philanthropist for a long time, donating toward healthcare, education, and the Jewish community. She was also a founding member of The Gottesman Fund in 1965. Her husband David, who was also an enthusiastic philanthropist, served on the board of directors at Yeshiva University and made substantial donations to charity institutions. The couple co-founded an institute devoted to regenerative medicine and stem cell research. David also donated generously before his death, including a significant gift of $25 million to Yeshiva University in 2008, as reported by Forbes. He donated over $300 million to several causes over his lifetime.