Ruth Gottesman's $1 Billion Donation

Ruth Gottesman, the widow of David “Sandy” Gottesman, a former director and significant shareholder of Berkshire Hathaway, has made a monumental contribution of $1 billion to a prominent New York City medical school. This extraordinary act has enabled students to pursue their medical education there without the burden of tuition fees.

A Generous Gift from Berkshire Stock

The generous donation to the Albert Einstein College of Medicine in the Bronx stems from Berkshire Hathaway stocks that were held by Ruth's late husband, David “Sandy” Gottesman. An esteemed Berkshire director and close ally of CEO Warren Buffett, Sandy Gottesman passed away at the age of 96 in September 2022.

Legacy of a Shareholder Giant

At the time of his passing, Gottesman ranked among the most substantial individual shareholders of Berkshire. Holding an impressive 6,402 Class A shares and around 400 Class B shares, his holdings were outlined in the 2022 Berkshire proxy statement as his “pecuniary” interest.

An Immense Valuation

Gottesman’s stake in Berkshire would presently be valued at approximately $4 billion based on the prevailing prices of both Class A and Class B shares. As of early trading on Monday, Class A shares saw a modest decline to $622,927, while Class B shares followed suit at $415. Notably, both share classes had achieved record highs earlier that day, with Class A shares peaking at $647,000.

A Generous Gift from Sandy Gottesman

A Longstanding Friendship

Sandy Gottesman's connection with Berkshire Hathaway dates back to 1965 when he befriended Warren Buffett, who later became the CEO of the company. An early investor and director of Berkshire from 2004 to 2022, Sandy was also close to Charlie Munger, the former vice chairman of Berkshire until his passing at 99 in late 2023.

Ruth Gottesman's Commitment to Education

At 93 years old, Ruth Gottesman has been actively involved with the Albert Einstein College of Medicine for over five decades. As the chair of the board and a clinical professor emerita of pediatrics at the school, she has made a lasting impact on the institution. With over 100 students enrolling annually, Ruth's donation is set to transform the medical school's student body by allowing more individuals dedicated to its mission to pursue their studies.

A Legacy of Giving Back

Throughout his life, Sandy Gottesman was not only a supporter of the Albert Einstein College of Medicine but also a benefactor of the American Museum of Natural History in Manhattan. His philanthropic efforts continue to leave a lasting legacy in the fields he cared deeply about.