Connecticut
Billionaire Ray Dalio joins push to fund Trump Accounts, pledging $75 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.
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.
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.
Connecticut
Kids Count conveys mixed picture of how children fare in CT
Connecticut
Popular Hartford Food Hall Decked Out For World Cup
HARTFORD, CT — A popular culinary destination in Connecticut’s capital city says it will be the place to be to watch the biggest sporting event on the planet.
Parkville Market in Hartford will kick off its “Summer of Soccer” celebration June 11 with a watch party for the Mexico-South Africa match, launching a series of soccer-themed events planned throughout the summer.
The Hartford food hall will broadcast matches both inside the venue and on its outdoor patio.
Organizers said opening-day activities will include face painting, custom T-shirt making, giveaways and a 360-degree photo booth.
Parkville Market’s 22 food vendors, which feature cuisines from around the world, are expected to be a central part of the experience as visitors gather to watch international soccer matches.
In addition to match broadcasts, visitors can use the venue’s new mini soccer pitch outside.
Organizers encouraged guests to bring their own soccer balls and play during events.
“Soccer is the world’s game, and Parkville Market is where the world comes together,” said Carlos Mouta, owner and CEO of Parkville Market. “And let’s go Portugal!”
Special event activations are planned for June 11, June 27 and the tournament final on July 19, according to organizers.
Located at 1400 Park St. in Hartford, Parkville Market is Connecticut’s first and largest food hall. The venue includes 22 restaurants, three bars, private event spaces and outdoor dining areas.
Connecticut
Person shot in New Haven; injuries not believed life-threatening, police say
In a post on X, New Haven Police Department said officers were out with a shooting victim in the area of Orchard and Charles streets at 6:43 p.m.
Police said the victim’s injuries do not appear to be life-threatening.
New Haven police Officer Christian Bruckhart said the scene was still active as of 6:45 p.m.
This is a developing story and will be updated.
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