Connecticut receives $100 million donation for education

By: Associated Press

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HARTFORD, Conn. (AP) – One of the world’s richest couples is donating $100 million to support public education and new businesses in some of Connecticut’s most disadvantaged communities.

Democratic Gov. Ned Lamont’s office says Friday’s donation from hedge fund billionaire Ray Dalio and his wife Barbara is believed to be the largest to benefit the state in its history.

Dalio, who lives in Greenwich and is the founder of the investment firm Bridgewater Associates, says the money is earmarked for areas with a high poverty and drop-out rates.

He says it will support career paths that encourage kids to stay in school.

Lamont says the state plans to leverage the donation into a $300 million investment over five years, with the state matching Dalio’s $100 million and another $100 million from other philanthropists and business leaders.

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