Billionaire Ray Dalio donates $50 million to address racial and ethnic disparities in America's health system

  • Ray Dalio, the billionaire founder of the hedge fund Bridgewater Associates, is donating $50 million to New York-Presbyterian Hospital to fund a center dedicated to health equity and justice.
  • The grant, which is from Dalio Philanthropies, will go toward founding the Dalio Center for Health Justice.
  • One of the center's key priorities will be "reducing health disparities that disproportionately affect communities of color," according to a press release.
  • The investment comes at a time when the coronavirus has exposed massive health inequalities along racial lines.
  • Black and Hispanic/Latino people are both about 4.7 times more likely to be hospitalized due to the coronavirus than white people, per data from the Centers for Disease Control and Prevention (CDC).
  • Hispanic/Latino and Black people are also more likely to die from the coronavirus, per the CDC, with Black people more than twice as likely than white people to die from the coronavirus.
  • Dr. Steven J. Corwin, president and CEO of NewYork-Presbyterian, said in the press release that the country must address racial and socioeconomic health disparities.
  • Dalio has previously spoken out about inequality in the US, saying the American dream is "lost" in today's world due to inequality.
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