NEW YORK, NEW YORK – MAY 22: Ray Dalio, Founder and CIO Mentor, Bridgewater Associates speaks onstage during The Wall Street Journal’s 2024 The Future Of Everything Festival at Spring Studios on May 22, 2024 in New York City.
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Ray Dalio, founder of the investment firm Bridgewater Associates, and his wife Barbara have committed to seed Trump accounts.
“Ray has joined what we are calling the 50-state challenge,” Treasury Secretary Scott Bessent said in a press conference on Wednesday. “We are inviting every philanthropist in every state across the country to partner with us in building generational wealth for America’s children through Trump accounts.”
The Dalio grant will fund $250 per child for approximately 300,000 children in Connecticut. This applies to children who live in a zip code where the median income is less than $150,000.
Trump accounts, a kind of tax-advantaged savings account for children, were created under President Donald Trump’s “big beautiful bill,” which Congress passed in July.
Earlier this month, the pilot program got a significant boost when Michael Dell, founder and CEO of Dell Technologies, and his wife, Susan announced a $6.25 billion pledge to help fund the new savings accounts for children.
A Wednesday update on TrumpAccounts.gov ahead of the announcement named the Dalios in a section on additional support: “Michael and Susan Dell, Ray and Barbara Dalio. More to come.”
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