CT Billionaires Pledge Money For Hundreds Of Thousands Of Children: Here's What To Know

GREENWICH, CT — Greenwich residents Ray and Barbara Dalio, through Dalio Philanthropies, announced Wednesday they will join the Dell family in contributing to new Trump administration investment accounts by providing an additional $250 per child for approximately 300,000 children in Connecticut.

The funds will initially be directed to children living in Connecticut ZIP codes with a median household income below $150,000, following the model established by the Dell family.

All Connecticut parents of newborns, regardless of their financial circumstances, can open a “Trump Account” to help save and build wealth for many of the expenses that come with adulthood. The plan applies to children born through the calendar years of the Trump administration, and provides a one-time $1,000 deposit into their accounts.

Read also: New Details On $1K 'Trump Accounts' For Connecticut Babies

The Dalios said their participation was influenced by Ray Dalio’s early exposure to investing and Barbara Dalio’s long-standing work with young people in Connecticut schools. They described the commitment as an extension of their focus on expanding opportunity and supporting Treasury Secretary Scott Bessent’s "50 State Challenge."

"Barbara and I believe strongly in the importance of equal opportunity and believe this initiative is an important step in that direction," said Ray Dalio in a news release.

"I have lived the American Dream. At an early age, I was exposed to the stock market, and it changed my life. 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," Ray Dalio added. "I applaud President Trump, Secretary Bessent, Michael Dell, and many others who have spearheaded this initiative. I am hopeful other philanthropists will join in this effort to help close the opportunity gap by contributing in their home states. As we enter the holidays, I can think of no better gift than the gift of opportunity."

Barbara Dalio has devoted herself to supporting public schools, teachers, and youth-serving organizations in Connecticut, working in a bipartisan way with the state and with local municipalities.

"Spending time in Connecticut schools and with our young people, I’ve seen firsthand the spirit of our youth. They have a lot stacked against them and we need to give young people a better chance for success. By helping them invest early and emphasizing financial literacy, in a small way, we can hopefully provide them with a better chance,” Barbara Dalio said in a news release.

Dalio Philanthropies and the Dalio family have donated more than $280 million to nonprofit organizations in Connecticut, including public schools, educational institutions, arts and cultural organizations, libraries, food banks, shelters and parks. The initiative marks their second partnership with the Dell family.

In 2020, during the COVID-19 pandemic, the Dalios purchased 60,000 Dell-supplied laptops for students without access to virtual learning and provided grants for child care for more than 1,000 children of health care workers in Connecticut, as well as protective equipment for community hospitals.