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Billionaire Ray Dalio joins push to fund Trump Accounts, pledging $75 million to Connecticut kids

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Billionaire Ray Dalio joins push to fund Trump Accounts, pledging  million to Connecticut kids


The U.S. Treasury asked major philanthropic donors to contribute to new investment accounts for children Wednesday as part of what Secretary Scott Bessent called a “50 State Challenge” to raise funds for the Trump Accounts program.

“The president is calling on our nation’s business leaders and philanthropic organizations to help us make America great again by securing the financial future of America’s children,” Bessent said in an address.

The billionaire hedge fund founder Ray Dalio, along with his wife Barbara, announced they would commit $250 to 300,000 children under 10 in Connecticut who live in ZIP codes where the median income is less than $150,000. Dalio founded the investment firm Bridgewater Associates and lives in Connecticut.

“I have been fortunate to live the American Dream. At an early age I was exposed to the stock market, and it changed my life,” Ray Dalio said in a statement, adding that he sees the accounts as putting children on a path toward financial independence.

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The Dalios’ $75 million commitment follows the $6.25 billion pledge from billionaires Michael and Susan Dell earlier in December. The Dells promised to invest $250 in the accounts of 25 million children 10 and under who live in ZIP codes across the country that also have that median income.

The new investment accounts were created as part of President Donald Trump’s tax and spending legislation, passed over the summer. Under the new law, the U.S. Department of the Treasury will deposit $1,000 into the investment accounts of children born during Trump’s second term.

The Treasury has not yet launched the new accounts.

“Starting on July 4th, our nation’s 250th anniversary, parents, family members, employers and friends will be able to contribute up to $5,000 to each Trump Account each year,” Bessent said Wednesday.

Brad Gerstner, a venture capitalist, who championed the accounts, said the Treasury will create an account for every child in the U.S. who has a Social Security number but private companies will eventually administer the accounts. Parents or guardians will have to claim the accounts on behalf of their children. For children born before Trump came to office and who don’t qualify for the funds from the Dells and the Dalios, their families can open and fund their own Trump Account if they choose.

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Money in the accounts must be invested in an index fund that tracks the overall stock market. When the children turn 18, they can withdraw the funds to put toward their education, to buy a home or to start a business.

Bessent said employers, family members and philanthropists can put funds into the accounts and that the administration hopes states will also eventually set up programs to invest in the accounts. Companies including Visa and BlackRock have also pledged to contribute in some way to the accounts of their employees’ children.

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Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.

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Man killed in Glastonbury crash

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Man killed in Glastonbury crash


A man is dead after a crash in Glastonbury on Tuesday afternoon, police said.

The crash happened around 2:45 p.m. in the area of Hebron Avenue and Glenwood Road. First responders were called in response to the report of a crash with injuries.

When police arrived at the scene, they found an 84-year-old man driving one of the vehicles. He was unconscious and was rushed to an area hospital. A passenger in the same vehicle was also taken to the hospital for evaluation.

Police said that, according to an investigation, the 84-year-old driver was traveling east on Hebron Avenue when he turned left onto Glenwood Road. As he turned, he drove into the path of an oncoming vehicle.

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The crash redirected the 84-year-old’s vehicle into a third vehicle.

Police said the man later died at the hospital. He hasn’t been identified at this time.



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‘Changed everything:’ Double knee replacement transforms quality of life for Connecticut woman

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‘Changed everything:’ Double knee replacement transforms quality of life for Connecticut woman


MILFORD, Conn. (WTNH) — A Connecticut woman dealt with debilitating knee pain for years before she said she found a surgeon who listened to her needs and successfully replaced both of her joints.

“I was totally incapacitated,” Gail Rogers Hopkins told News 8.

Going up and down stairs was impossible for her just a couple of years ago.

“I could hardly move because the pain was just that excruciating,” she explained.

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Before the pain consumed her, however, she shared her knees just weren’t her top priority.

“You just push it away because there’s kids to take care of and husbands to take care of and houses and work,” she said.

Rogers Hopkins tried all sorts of remedies like cortisone and CBD before exploring surgery.

“Finding the right doctor was key. I fired four orthopedists before I got to Dr. Lahav, because they, because of my weight, they did not want to do the surgery, and they dismissed me.”

The “right” doctor, she said, is orthopedic surgeon Dr. Amit Lahav at Bridgeport Hospital’s Milford Campus.

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“Somebody was actually listening to me and that’s, you know, that was the start of it and so I did everything I was told,” Rogers Hopkins explained while fighting back tears.

Lahav helped her develop a weight loss plan in preparation for surgery. Her first knee was replaced in April and the second in June of last year.

Just about a year later, she said, “I didn’t feel like I had a life prior to this, you know, having the surgery done was just incredible, it just has changed everything.”

  • 'Changed everything:' Double knee replacement transforms quality of life for Connecticut woman.

Lahav is familiar with Rogers Hopkins’ path to surgery, saying, “functional impairments or mechanical symptoms such as arthritis sometimes takes a backseat.”

While he doesn’t discount a hip or knee replacement being major surgery, he added, “a lot of the total joint replacement you do now are same day, you go home, same day, you’re walking just a couple of hours after surgery, full weight-bearing.”

Lahav also emphasizes that recovery isn’t one size fits all.

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“It’s a new joint, it does take some work on there, but if you get that work done earlier on and you maximize where you can get, especially over the first few weeks, you can be walking into my office at two weeks saying, I already feel a difference,” Lahav said.

To those struggling with pain like Rogers Hopkins’, she said, “don’t give up.”

She wants others to know, “it was worth the wait.”

Lahav said consider all your options for joint pain, both surgical and non-surgical. If surgery is the option you choose, make sure you understand the process from prep to post-surgery and prioritize quality communication with your medical team.

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Body recovered from Connecticut River identified as missing Massachusetts man

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Body recovered from Connecticut River identified as missing Massachusetts man


LYME, Conn. (WTNH) — A body found in the Connecticut River earlier this month has been positively identified as a missing Massachusetts man, according to the Connecticut Department of Energy and Environmental Protection (DEEP).

Somebody had reported seeing a body in the Connecticut River near the Chester-Lyme Ferry on May 9 around 12:23 p.m., according to DEEP.

Fire crews and police were able to recover the body, where the man was pronounced dead.

Environmental Conservation Police (EnCon) investigators were able to match known records to 63-year-old Donald Plasse, of Holyoke, Massachusetts, who was reported missing on Jan. 13.

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According to DEEP, his disappearance followed an incident near the Connecticut River in South Hadley, Massachusetts.



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