Michael Bloomberg's Bloomberg Philanthropies donated $1 billion to Johns Hopkins University, allowing most medical students to attend tuition-free. The gift covers tuition and living expenses for students from families earning less than $300,000, addressing financial barriers in healthcare education. Bloomberg's donation follows similar initiatives at other medical schools, like Albert Einstein College of Medicine and NYU, aiming to alleviate the burden of student debt and encourage enrollment from diverse socioeconomic backgrounds. The move highlights a growing trend towards free medical education and aims to address the shortage of healthcare professionals in the US. Bloomberg emphasizes the importance of reducing economic barriers for aspiring healthcare professionals amid a decline in life expectancy and challenges in the healthcare sector.