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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

Madman Films

Limbo - Official Trailer

⏲ 1 minute 34 seconds 👁 6.5K

Film4

LIMBO | British Film Nominated For 2 BAFTAs | Official UK Trailer | Film4

⏲ 1 minute 34 seconds 👁 7.4K

【ENG SUB】The boy who appeared in her dreams is her destined mate

【ENG SUB】The boy who appeared in her dreams is her destined mate

⏲ 15:24 👁 100K

Rotten Tomatoes Indie

Limbo Trailer #1 (2024)

⏲ 1 minute 41 seconds 👁 8.5K

MUBI

LIMBO | Official Clip #1 | Coming Soon

⏲ 1 minute 13 seconds 👁 13.7K

Limbo - Full Game Walkthrough 100% (Longplay) [2K 60FPS] from limbo 2020 film

Limbo - Full Game Walkthrough 100% (Longplay) [2K 60FPS]

⏲ 1:7:50 👁 35K

MUBI

LIMBO | Official UK Trailer | In Cinemas Now | On MUBI September 23

⏲ 1 minute 39 seconds 👁 201.5K

Movie Marathon

The Detective - Investigation of the century | Best Drama Movie Full HD Hollywood Movies in English

⏲ 1 hour 28 minutes 36 seconds 👁 254.6K

【ENG SUB】The boy who appeared in her dreams is her destined mate

【ENG SUB】The boy who appeared in her dreams is her destined mate

⏲ 15:24 👁 25K

Hollywood English Collection

SEDUCTION - Hollywood English Movie | Blockbuster Romantic Thriller Movie In English | Liam Neeson

⏲ 1 hour 22 minutes 38 seconds 👁 3.3M

The New Mutants Sunspot, Cannonball, Magik vs Smiley Men Fight Scene | Movie CLIP 4K

⏲ 2 minutes 15 seconds 👁 1.9M

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