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Dalio shells out for Greenwich party headlined by Paul Simon

April 02, 2012  

Bridgewater honcho to match all contributions in support of Connecticut celebration.


 Last year's Greenwich Town Party

Bridgewater Associates founder Ray Dalio, fresh off a $3.9 billion payday, has pledged to match all contributions to the annual town party on the waterfront in his hometown of Greenwich, Conn.

Tickets to the Memorial Day weekend party, to be headlined by Paul Simon, go for $40 apiece for residents of the swanky New York City suburb. But that price covers less than 25% of the cost of putting on the event, putting the fundraising onus on "local businesses and residents with greater means in the community," according to a press release. The 5,000 tickets to this year’s event are already sold out.

"Dalio and other organizers’ vision of the Greenwich Town Party—a celebration of community spirit, fellowship and mutual generosity—is to create a quality annual music and family festival that brings individuals and families in the town of Greenwich together to both enjoy and support the event," the release said.

Dalio is head of Bridgewater—the world’s largest hedge fund—which is based in nearby Westport. His other philanthropic endeavors include the Robin Food Foundation, the hedge fund-heavy charity founded by Greenwich resident Paul Tudor Jones and others in 1988 to combat poverty in New York City. Dalio gave Robin Hood $10 million last year.

See more charity stories: Soros falls in annual philanthropy rankings Hedge fund hoop squad beats private equity posse in charity tournament AR’s Good Guys profiles

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