Current Events > Did any of you here about that one person who donated one billion

(+) Yeah! (+)

dollars to a nyc medical school? or it was probably his widow iirc, Now medical students there will not have to pay tuition. might have been the largest donation to any college ever. Any of you think hypothetically you would do the same?

yes, I'm a hypothetically generous person.

MrResetti posted...

yes, I'm a hypothetically generous person.

so you dont really do it much right now?

MrResetti posted...

yes, I'm a hypothetically generous person.

Well that's nice of you!

May I have a million dollars please?

If I had Bezos level of fuck-you money, yeah I would do that sort of thing. I wouldn't make a single donation that size if I only had a few billion though; I'd prefer to spread smaller amounts to multiple worthy causes.

And only 100 million of that is gonna go to the football team, 300 million to the shareholders, 400 million to the CEOs christmas bonus, and oops, they're out of money

My girlfriend is a doctor and she told me about it. She was super stoked by it.

ROBANN_88 posted...

And only 100 million of that is gonna go to the football team, 300 million to the shareholders, 400 million to the CEOs christmas bonus, and oops, they're out of money

isn't this only supposed to go to medical students? this school has a football team? But many of the huge football schools say no taxpayer money is ever used for football team. that it pays for itself.

Smallville posted...

isn't this only supposed to go to medical students? this school has a football team? But many of the huge football schools say no taxpayer money is ever used for football team. that it pays for itself.

I'm not gonna say it was a joke cause it wasn't that funny, but i wasn't being completely serious either
But knowing how american colleges work, i bed they would love to take it all for themselves and prestige-projects if they could

A medical school wouldnt be my first choice, but yes, if I was a billionaire I would give the vast majority of it away.

I doubt it. They'd appreciate the education more if they had to use their own money.

Yeah, I remember seeing that in my newsfeed.

Glob posted...

A medical school wouldnt be my first choice, but yes, if I was a billionaire I would give the vast majority of it away.

what would be your first choice though? Iirc most of the billionaires have declined to sign gates' giving pledge, much less than half iirc

ROBANN_88 posted...

And only 100 million of that is gonna go to the football team, 300 million to the shareholders, 400 million to the CEOs christmas bonus, and oops, they're out of money

It's a Bronx medical school, dude.

lydiaquayle posted...

It's a Bronx medical school, dude.

bronx medical school, that makes it extremely difficult though?

Smallville posted...

bronx medical school, that makes it extremely difficult though?

No. I'm saying that it doesn't have football team. Cuz it's a school for medical doctors in a low-income neighborhood.

lydiaquayle posted...

No. I'm saying that it doesn't have football team. Cuz it's a school for medical doctors in a low-income neighborhood.

yeah albert einstein school iirc . Didn't even know it was in bronx . Iirc columbia and nyu have their own medical schools in nyc. Not sure why she chose that one., though

GranTurismo posted...

Iirc columbia and nyu have their own medical schools in nyc. Not sure why she chose that one., though

Because Columbia and NYU don't need the money. They've got huge fundraising networks. In fact, those schools are probably part of the problem of why education costs so much.

when I'm a billionaire I'm going to adopt all the dogs and cats I can

Smallville posted...

what would be your first choice though? Iirc most of the billionaires have declined to sign gates' giving pledge, much less than half iirc

The charity Im most involved with and donate the most money to at the moment helps trafficking victims, provides education to poor children in remote regions and helps people living on the streets or in extreme poverty.

Thats an oversimplification, but theyre a great organisation.

Smallville posted...

dollars to a nyc medical school? or it was probably his widow iirc, Now medical students there will not have to pay tuition. might have been the largest donation to any college ever. Any of you think hypothetically you would do the same?

Yes

lydiaquayle posted...

Because Columbia and NYU don't need the money. They've got huge fundraising networks. In fact, those schools are probably part of the problem of why education costs so much.

oh you're a new yorker? Did not know that , that albert einstein... has easily the least funds etc.. of the other 3....

According to The Bible, God isn't impressed when rich people give money away and tell others about it.

RadDude9000 posted...

According to The Bible, God isn't impressed when rich people give money away and tell others about it.

does it really say that? you're just joking?

https://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment
Columbia, $13.6 billion
NYU, $5.9 billion

Einstein was the #13 Medical school in the country, with $60k/year tuition. This gift now makes this one of only two schools in the nation with free tuition for medical school. NYU was the first.

RadDude9000 posted...

According to The Bible, God isn't impressed when rich people give money away and tell others about it.

I'm sure she's not concerned about God and just wants to do something good with the money before she dies.

lydiaquayle posted...

https://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment
Columbia, $13.6 billion
NYU, $5.9 billion

Einstein was the #13 Medical school in the country, with $60k/year tuition. This gift now makes this one of only two schools in the nation with free tuition for medical school. NYU was the first.

did not know, nyu is also free? columbia and enstein , before this might have been some of the highest?

GranTurismo posted...

did not know, nyu is also free?

Starting in 2018.

lydiaquayle posted...

Starting in 2018.

how can nyu afford to do that though?

GranTurismo posted...

how can nyu afford to do that though?

One of two reasons usually:
a) PR. They take the hit, but the PR that they receive more than makes up for it. Also, NYU has one of the largest healthcare systems in the city. I bet they make a lot of their money simply from the research and healthcare fees that they receive.

b) Endowment gifts come with conditions. The Einstein school received $1 billion ON THE CONDITION that tuition is free. So basically, they afford it, by simply making tuition free until the endowment cash runs out of money.

lydiaquayle posted...

One of two reasons usually:
a) PR. They take the hit, but the PR that they receive more than makes up for it. Also, NYU has one of the largest healthcare systems in the city. I bet they make a lot of their money simply from the research and healthcare fees that they receive.

b) Endowment gifts come with conditions. The Einstein school received $1 billion ON THE CONDITION that tuition is free. So basically, they afford it, by simply making tuition free until the endowment cash runs out of money.

none of the news articles even mentioned that though. How many yrs it is expected to be free. Are you a huge fan of this gift, or are skeptical at all about it?