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Gov. Lamont: Connecticut's education partnership with Dalio family disbanded due to 'breach of trust'

Last month, the couple announced they were donating $100 million to support public education and new businesses in some of CT's most disadvantaged communities.

HARTFORD, Conn — Gov. Lamont spoke outside the State Capitol Tuesday morning to make a major announcement regarding education in Connecticut amid COVID-19.

The governor said the state's education partnership with hedge fund billionaire Ray Dalio and his wife, Barbara has been disbanded.

The split is the result of a 'breach of trust,' according to Lamont.

Last year the couple, who are one of the world's wealthiest, announced they were donating $100 million to support public education and new businesses in some of Connecticut's most disadvantaged communities.

Most recently, the donation included providing 60,000 laptops for students in the state as schools transitioned to online, distance learning.

According to Lamont's office, the Dalio's contribution is believed to be the largest known philanthropic donation to the state of Connecticut.

RELATED: Billionaire gives $100 million to fund Connecticut education

The Dalios live in Greenwich and Ray Dalio is the founder of the investment firm Bridgewater Associates. Forbes lists his net worth at more than $18 billion.

He said the donation is earmarked for areas with high poverty and drop-out rates, and will create career paths that encourage kids to stay in school.

"Our No. 1 objective is to get, particularly those who are having the most trouble, to get them through high school and into jobs," Ray Dalio said Friday. "Education can't be theoretical; it's got to deliver an outcome."

FOX61's Jenn Bernstein spoke with state representative and House Minority leader Themis Klarides regarding the disband and how Barbara Dalio's statement targeting Klarides and Representative Candelora. 

"I think it's unfortunate that the Dalio's have been misled in regard to how this process has worked," said Klarides. " All we've ever asked for is this process of the board that uses twenty million dollars of taxpayers' money is to be transparent. that's where it starts and that's where it ends. Unfortunately, I would like them to show me when I've been debating anything in the media I'm a board member and I take my fiduciary duty very seriously. I purposely didn't talk to the press for that reason... all I've ever said is we should have a board meeting." 

Gov. Lamont also issued new executive orders Tuesday morning that largely impact summer school and camps.

With in-person schooling canceled for the rest of the academic year, all questions have now been "will summer camp still go on?"

The orders are as follows:

  • Prohibition of large gatherings extended through June 20th.
  • Restrictions on off-track betting, indoor fitness, and movie theaters extended to June 20th.
  • The order also put out the limitations on the operation of day camps, prohibiting day camps, which were not already operating as of May 5, from beginning operations for the season until June 22.

Day camps will also be required to comply with the limitations on child group sizes and enhanced health procedure requirements placed on child care programs.

Overnight, residential camps will not be allowed to reopen at this time.

Summer school can not begin prior to July 6, 2020, unless earlier extended, modified, or terminated by the governor. The Commissioner of the Department of Education is required to issue guidance on the limited operation of summer school programs that are allowed to have in-person classes after that date.

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RELATED: Gov. Lamont moves reopen date for salons and barbershops to early June

RELATED: Governor Lamont: Casinos to remain closed

The order also allows for the sale of mixed drinks for takeout and delivery by various liquor permittees so long as:

The sale of those alcoholic beverages is allowed under the permit type held by the business, all other conditions of the sale meet the requirements of the Governor’s executive orders, and the sale is consistent with local or municipal open container ordinances or other requirements.

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