In a significant move to address health disparities, Bloomberg Philanthropies’ Greenwood Initiative has announced a $600 million donation to four historically Black medical schools.
This substantial investment aims to bolster the endowments of Howard University College of Medicine, Morehouse School of Medicine, Meharry Medical College, and Charles R. Drew University of Medicine and Science. The initiative seeks to enhance the financial sustainability of these institutions, which play a crucial role in training the next generation of Black physicians.
The Greenwood Initiative, named after the prosperous Black community in Tulsa, Oklahoma, destroyed in the 1921 race massacre, is dedicated to increasing generational wealth and economic mobility in Black communities. By supporting these medical schools, the initiative addresses the critical shortage of Black doctors, which is a significant factor in the health disparities experienced by Black Americans. The funding will help these schools expand scholarships, improve facilities, and support innovative programs that aim to reduce health inequities.
Michael Bloomberg, the founder of Bloomberg Philanthropies, emphasized the importance of this investment, stating that it will help ensure that more Black doctors are trained and equipped to serve their communities. This initiative is a part of Bloomberg’s broader commitment to racial equity and economic justice.
See: “Greenwood Initiative Drives Bloomberg’s $600 Million Gift to HBCU Medical Schools” (August 12, 2024)
