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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

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zFazT ™

Java vs Bedrock

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MrPogz Zamora

All Iron Golems Combined

⏲ 10 minutes 50 seconds 👁 3.7M

Meet Horridus — one of the most complete Triceratops fossils ever discovered. Found in Montana, Horridus at Melbourne Museum in Australia in the new exhibit \

One Of The Most Complete Triceratops Skeletons In The World

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YellowBee Craft

Monster School : TRAIN EATER vs CHOO CHOO CHARLES (ATTACK) - Minecraft Animation

⏲ 11 minutes 6 seconds 👁 840.5K

AOGame

Top 60 Java games port to Android

⏲ 10 minutes 27 seconds 👁 9.9K

A Felda oil palm farmer was fined RM12,000 by the Sessions Court in Kuala Lumpur on Monday (April 22) for making a threatening post against the Yang di-Pertuan Agong on his Facebook page in August 2023.<br/><br/>Judge Siti Aminah Ghazali handed down the sentence on Samsuri Ramli, 45, after he pleaded guilty to the charge.<br/><br/>Read more at https://tinyurl.com/5n7cmyrn<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline

Man fined RM12,000 for threatening FB post against the king

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Megamanny

sounds Java vs Bedrock

⏲ 2 minutes 1 second 👁 1.4M

YoGoUrT

HOW TO GET SPAWNER IN SURVIVAL MIONECRAFT #shorts

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Datuk Seri Anwar Ibrahim has distanced himself from a purported \

Anwar says Najib's 'house arrest order' solely a Pardons Board issue

⏲ 1:25 👁 108.8M

GEVids

Minecraft: I Found HEROBRINE 😳 #shorts

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EndoGamics

Reality Vs Realistic Minecraft

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