Billionaires, Philanthropy and MBE Development

Dr. Fred McKinney, Ph.D.Carlton Highsmith Chair for Innovation and Entrepreneurship and Director, People’s United Center for Innovation and Entrepreneurship,Quinnipiac University School of Business

The first day of April is a day when practical jokesters tell you things like, " I know the number you play and guess what -you won the lottery last night" or "I saw your car was being towed." These harmless prevarications are followed by "April Fools, I got you." But this first week of April, Ray Dalio, the founder and CEO of Bridgewater Associates and Dalio Philanthropies, announced a $100 million gift to the state of Connecticut - if the state and other philanthropic organizations matched his $100 million pledge, to total $300 million.

This was not an April fools joke. It was the largest private gift in state history. It was a gift based on Mr. Dalio’s firm belief and rigorous economic and political analysis that without some significant changes in A...

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