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_how-one-billionaire-lost-millions-and-left-underserved-scholarship-students-in-limbo.webp "On March 21, the roughly 70 employees of the Schuler Education Foundation, based in the affluent suburb of Lake Forest, Illinois, were summoned to an emergency all-hands meeting. Over the past two-plus decades, the nonprofit founded and funded by a former president of healthcare giant Abbott Laboratories, Jack Schuler, had spent at least $150 million counseling and tutoring more than 1,800 low-income students from Chicago and Milwaukee-area high schools to help them gain admission to elite colleges; those colleges in turn covered most (if not all) of the students’ tuition and other costs.<br/><br/>The employees, who first had to certify they wouldn’t record anything, were let into a Zoom room where the nonprofit’s executive director Joanne Bertsch read from a script announcing that the foundation would shut down on May 24. Everyone would be let go except for a skeleton crew of seven college counselors left to support students through August. <br/><br/>0:00 Introduction<br/>0:15 How Our Reporters Found Out About Jack Schuler<br/>3:05 Reporting On The Schuler Foundation<br/>5:45 Losing Money In The Market<br/>8:50 The Role Of Healthcare Stocks<br/>12:23 The Impact On Students And Colleges<br/>16:05 How The Foundation Behaved As Their Investments Lost Value<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/04/16/inside-the-collapse-of-a-former-billionaires-foundation-for-low-income-students/?sh=b52a7d62f78b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_pehli-dafa-is-dil-mein-bhi-124-kumar-sanu-alka-yagnik-124-hulchul-1995-songs-124-kajol-ajay-devgn.webp "Goldmines Gaane Sune Ansune")
_kajal-raghwani-ii-video-ii-song-ii-2020-video-song.webp "Bhojpuri Dance")
_paagal-beta-16-124-jokes-124-cs-bisht-vines-124-desi-comedy-video-124-school-classroom-jokes.webp "CS Bisht Vines")
_video-coolar-124-kheari-lal-yadav-kajal-raghwani-124-coolar-lagwadi-124-bhojpuri-gana.webp "Raftaar Hits")
_lyrical-ghamand-kar-124-tanhaji-the-unsung-warrior-124-ajay-kajol-saif-124-sachet-parampara.webp "T-Series")
_paagal-beta-17-124-jokes-124-cs-bisht-vines-124-desi-comedy-video-124-school-classroom-jokes.webp "CS Bisht Vines")
_raghupati-raghav-full-video-kuch-kuch-hota-hai124shah-rukh-khankajol124alka-yagnik.webp "SonyMusicIndiaVEVO")
_special-26-gore-mukhde-pe-full-hd-video-song-124-akshay-kumar-neeru-bajwa-kajal-aggarwal.webp "T-Series")
_cholna-sujon-124-official-music-video-124-bokhate-2016-short-film-124-siam-amp-toya-124-ahmmed-humayun.webp "Tiger Media")
_dadaji-ki-chhadi-hu-main-kajol-jeetendra-udhar-ki-zindagi-sargam-dance-academy.webp "sargam dance academy")
_video-november-124-khesari-lal-yadav-kajal-raghwani-124-bhojpuri-sad-song-2020.webp "Khesari Music World")
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