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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.

How One Billionaire Lost Millions And Left Underserved Scholarship Students In Limbo

⏲ 20:9 👁 1.1M

OxfordUnion

Ashok Dhawale | This House Believes That Modi’s India is on the Right Path| 4 8

⏲ 22 minutes 11 seconds 👁 42.3K

Rajiv Dixit Gyan

Indian Rupees:: #shotrs #rupees#educationalvideo

⏲ 18 seconds 👁 281

Two Telangana students, Nivesh Mukka and Goutham Kumar Parsi, aged 19, tragically perished in a road accident in Arizona, USA. Both studying computer science engineering at Arizona State University, they were returning home when their vehicle collided head-on with another car. The families urge Indian government assistance to repatriate their bodies. The incident underscores safety concerns for Indian students abroad. <br/> <br/> <br/>#indianstudentus #indianstudentsusa #indianstudentsinusatelugu #indiastudentusa #indianstudentsinusadeath #indianstudentsinusauniversities #NiveshMukka #GouthamParsi #ArizonaStateUniversity #Oneinda #Oneindia news <br/>~HT.99~PR.152~ED.155~

Two Indian Students, Both 19, Lose Their Lives in a Tragic Road Accident in US | Oneindia News

⏲ 2:7 👁 1.7M

Currency Universe

INDIA RS 50 AND PAKISTAN RS 50 COMPARISON VIDEO - INDIAN RUPEE VS PAKISTANI RUPEE

⏲ 10 minutes 42 seconds 👁 670

The Report 60

US Dollar $ Exchange Rate vs Major Currencies

⏲ 15 seconds 👁 100.7K

Former President Donald Trump is set to receive up to 36 million additional shares in Trump Media & Technology Group, the parent company of Truth Social, worth over $1.25 billion at current prices. These shares are considered an \

Trump to Receive Over 36 Million Shares Worth $1.25 Billion from Trump Media & Technology Group

⏲ 0:45 👁 745K

Max Berka

American Money Factory💵: US Dollar Banknotes Production process – How is a dollar made? $100

⏲ 8 minutes 37 seconds 👁 2.3M

Kitna Hota Hain

50000 Dollar Kitna Hota Hai - 50000 Dollar Kitne Hote Hain - 50000 Dollars in Indian Rupees

⏲ 2 minutes 7 seconds 👁 17.9K

Flash Marriage with my Alpha1

Flash Marriage with my Alpha1

⏲ 1:46 👁 120K

HEARTENSPORTS

All country currency rate In Indian Rupees II Hearten Side

⏲ 8 minutes 48 seconds 👁 141.7K

More Travels w/ Drew Binsky

World’s Most Confusing Currencies

⏲ 58 seconds 👁 3M

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