Hedge fund mogul Ray Dalio and his wife, Barbara, have pledged to donate $100 million to help public education in Connecticut. The pledge through Dalio Philanthropies is part of a $300 million public-private partnership with the state announced in East Hartford on Friday by Governor Ned Lamont.
Lamont told a crowd of students at East Hartford High School that this is the largest known philanthropic donation to benefit the state.
“This is $300 million invested in you, invested in urban high schools, invested in rural high school, making such that each and every kid gets their best shot. And I cannot be more proud, Ray and Barbara, I cannot be more proud of doing this with you.”
Dalio told the students that the initiative came from his wife Barbara, who’s been involved with public education for the past 10 years.
“At the dinner table all I was hearing was of how you inspired her, and the lack of opportunities…The Dalio Foundation is going to contribute $100 million to make sure your education is the best that it can be. Your education is the best that it can be. We educate the whole person. We love the students.”
The public-private partnership will be made up of the $100 million from the Dalios and matching contributions from the state and other philanthropies and business leaders.
The money will be used to provide resources to help students from communities with high poverty graduate from high school and get jobs.