Ray Dalio, founder and co-chairman of the Westport hedge fund Bridgewater Associates, announced on Nov. 18 his partnership with the charity gift card organization TisBest Philanthropy on an endeavor designed to encourage a greater level of public philanthropy.
Dalio and TisBest coordinated the #RedefineGifting campaign, which launched last week with 20,000 TisBest Charity Gift Cards worth $50 each distributed to the public on a first-come-first-serve basis, a $1 million allocation. The cards work like a traditional gift card, except that they allow recipients to donate 100% of the card’s value to the charities of their choice.
“The amount of money given towards just candy gifting over the holidays is greater than the annual budgets of the American Heart Association, American Cancer Society, and Habitat for Humanity combined,” said Dalio. “Imagine what a huge positive impact it would have if even a small amount of that went to charities instead.”
This is Dalio’s second consecutive year of working with TisBest on a gift card distribution. In 2020, he joined several prominent figures including Ashton Kutcher, Mila Kunis, Arianna Huffington, Dr. Oz and Gayle King to give away $2 million worth of TisBest Charity Gift Cards to more than 30,000 people.