Dalio Philanthropies is making a $75 million donation to Connecticut’s participation in the Trump Administration’s 50 State Challenge.
The funding will be distributed via investment accounts to 300,000 children in the state who live in zip codes where the median income is less than $150,000.
The Westport-based foundation, run by Ray and Barbara Dalio, is joining with Michael and Susan Dell in backing the initiative.
“By providing children with savings accounts that compound over time, we are providing them with early insights into financial literacy and a path towards financial independence,” said Ray Dalio, the founder of hedge fund Bridgewater Associates.
He called for other philanthropists to join the effort.
This is Dalio Philanthropies’ second initiative in partnership with the Dell family. In 2020, during the COVID pandemic, the Dalios purchased 60,000 laptops supplied by Dell to support children who would not otherwise have access to virtual education.
The investment accounts were created as part of the Big Beautiful Bill that congress passed this summer
