The richest person in Connecticut is giving away billions

Ash Jurberg

When Forbes released its annual list of billionaires this month, 2,668 people made the list.

And once again, claiming the title of the richest person in Connecticut was Ray Dalio. Let's look at his story and what he is doing to give back to the Connecticut community.

The richest person in Connecticut is giving away billions

Ray Dalio has a net worth of $22 billion, making him the richest person in Connecticut and the 79th richest globally.

Dalio grew up on Long Island and started investing in shares when he was just twelve years old, relying on advice from golfers that he was caddying for.

He proved to be a shrewd investor, and after graduating with an MBA from Harvard Business School in 1975, he launched his first business from his apartment. That business became Bridgewater Associates.

Based in Westport, Connecticut, Bridgewater is now the world's biggest hedge fund firm and manages $154 billion.

Philanthropy

Ray Dalio is an incredibly wealthy man, but thankfully he is a significant contributor to philanthropic causes in Connecticut, New York, and worldwide.

In 2011 he signed the Giving Pledge, in which he promised to give away the majority of his wealth while he was still alive.

We learned that beyond having enough money to help secure the basics - quality relationships, health, stimulating ideas, etc. - having more money, while nice, wasn't all that important. …So we found taking our excesses and providing it to others who have extreme shortages has been both a good investment and a great satisfaction.”

Ray created the Dalio Foundation as well as Dalio Philanthropies.

These organizations contribute to "equal opportunity in education, financial inclusion, microfinance, ocean exploration and conservation, mental health and wellness, digital equity, the next generation of video games for learning, community and the arts, and more."

The latest annual report from the Foundation says in 2019, it made more "than $6 million in donations to Connecticut causes, the majority for education and youth support services."

Dalio has already given $5 billion to his foundation to disperse.

Readers, what do you think of Ray Dalio's story? Are there any organizations in Connecticut you would like to see him assist?

Please leave your comments below.

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