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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.")
_several-boys-have-sex-with-girl-15-in-ft-myers-high-school-bathroom.webp "ABC Action News")
_eastern-boys-9234i39m-only-149234.webp "Peccadillo Pictures")
_students-recorded-video-and-having-sex-on-school-campus.webp "11Alive")
_boys-on-film-21-beautiful-secret-locker-room-hook-up.webp "Peccadillo Pictures")
_boys-discover-there-is-more-than-friendship-between-them-124-9234reel9234-short-film-by-jens-choong.webp "KIS KIS - keep it short")
⏲ 13 minutes 1 second 👁 1.4M
_boys-thermal-underwear-sets-by-thermajohn.webp "Thermajohn")
_power-meets-meowy-124-chainsaw-man-in-a-nutshell-shorts.webp "Grimmjack")
_the-american-boys-gay-kid39s-first-crush.webp "NQVmedia")
_hayley-kiyoko-feelings-official-music-video.webp "Hayley Kiyoko")
_labor-day-2013-first-kiss-scene-5-10-124-movieclips.webp "Movieclips")
_good-boys-movie-clip-max-practices-kissing-the-doll-2019-124-movieclips-coming-soon.webp "Rotten Tomatoes Coming Soon")
⏲ 51 seconds 👁 644.8K
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