Ray Dalio Makes His
Exit From Bridgewater
Ray Dalio Makes His
Exit From Bridgewater “Today is a very special day for me and Bridgewater Associates because I transitioned my control of Bridgewater to the next generation and I feel great about the people and ‘machine’ now in control,” he tweeted Tuesday morning. “This transition moment is the culmination of a 47-year journey.”
who gained notoriety beyond hedge fund circles with a book of investment and management philosophy called “Principles” — officially gave up his voting rights and his role as a co-chief investment officer at the end of September. But Dalio said he will continue to advise co-chief investment officers Bob Prince and Greg Jensen, as well as the investment committee.
Dalio turned Bridgewater into the best money manager of all time, according to an annual list compiled by by Rick Sopher, chairman of LCH Investments in London. As of the end of last year, Bridgewater had made investors $52.2 billion since 1975, according to Sopher — even though Bridgewater’s returns in 2021 were only $5.7 billion on assets under management of $99.2 billion.
A multi billionaire — Forbes pegs his net worth at $19.1 billion — Dalio got his start in investing while caddying at a Long Island golf course when he was 12 years old. He launched Bridgewater two years after receiving an MBA from Harvard Business School in 1973.
Billionaire Hedge Fund Founder Ray Dalio Steps Down as Co-CIO of Bridgewater Associates
“While it hasn’t been easy over the last 12 years, we made it!” he added. Dalio noted that continuing to be a “mentor, an investor, and board member at Bridgewater” is “a dream come true.”
On Tuesday, October 4, after founding Bridgewater Associates more than 40 years ago, Ray Dalio stepped down as co-CIO. Bloomberg’s Erik Schatzker first reported on the matter after the hedge fund founder relinquished all of his voting rights to the board of directors on September 30. After founding Bridgewater in 1975, Dalio was considered a mogul hedge fund titan and within the first ten years of business, Bridgewater got a $5 million investment from the World Bank.
Schatzker report cites Bridgewater’s co-chief executive, Nir Bar Dea, who told the reporter “Ray no longer has the final word.” Dalio also spoke about his resignation on Twitter and he told the public that today was a special day for him because he “transitioned my control of Bridgewater to the next generation.” Dalio added:
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