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State disbands education partnership with local billionaire Ray Dalio

Connecticut

HARTFORD, Conn. (WTNH)– Governor Ned Lamont announced on Tuesday that the state is disbanding an education partnership with hedge fund billionaire Ray Dalio.

The partnership was designed to provide millions of dollars for struggling Connecticut school districts.

The governor held this impromptu press conference to announce that one of Connecticut’s wealthiest residents has pulled out of a partnership with the state, intended to help bridge the gap in Connecticut schools.

The Dalio Foundation, created by Ray Dalio and his wife, initially committed $100 million to this new nonprofit started by Governor Lamont called “The Partnership for Connecticut.” The state was supposed to be on the hook for another $100 million.

But the governor says the Dalios have backed out due to “breach of trust” and scrutiny. The governor declined to discuss those personal matters that he said contributed to the split.

The foundation recently committed to spend $24 million to buy 60,000 laptops for kids in Connecticut’s neediest school districts so they can have access to online learning. The governor says that piece won’t change.

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