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October 14, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Barbara and Ray Dalio pledge $100M to Connecticut public education

Barbara and Ray Dalio

Dalio Philanthropies, the nonprofit created by Bridgewater Associates founder Ray Dalio and his wife, Barbara, have pledged $100 million to Connecticut’s public schools in a five-year partnership that will include $100 million from the state and another $100 million donated by other philanthropic and business leaders.

The Dalios said their pledge was the largest philanthropic gift in Connecticut history, and the funds will be concentrated on communities with high poverty rates and a high level of youth who are “showing signs of disengagement or disconnection from high school.”

Gov. Ned Lamont has proposed making the state’s first contribution to this partnership from the projected surplus this year, and will discuss future matching funding with the legislature before developing the state’s final budgets.

“Equal access to education and job opportunities are required for any system to be fair and productive,” said Ray Dalio in a statement. “Unfortunately, these are now lacking in Connecticut, particularly in poor areas of the state where poverty impedes children’s ability to get a quality education and for adults to get jobs. I believe that all members of our Connecticut community should pull together to rectify these intolerable circumstances.”