Billionaire Ray Dalio, aged 75, has disposed of his final shares within the hedge-fund firm he himself established – Bridgewater Associates – and expresses exuberance about the move.
In a planned leadership transition, Ray Dalio, the billionaire founder of Bridgewater Associates, has officially stepped away from the hedge-fund firm he founded in 1975. Dalio, who is 75 years old, sold his remaining shares in the firm to Bridgewater and assumed the title of founder and mentor, rather than an executive role.
The news of Dalio's departure was reported by The Wall Street Journal, although the specifics of his future role or plans remain undisclosed. The assets of Bridgewater fell to $92.1 billion at the end of last year, a decline possibly due to Bridgewater twice capping its flagship Pure Alpha fund in an attempt to boost performance.
Dalio served as CEO, CIO, and chairman of Bridgewater before handing over the reins to the co-CIOs Bob Prince, Greg Jensen, and Karen Karniol-Tambour. Bridgewater grew to one of the largest hedge funds in the world, with $168 billion assets under management in 2019.
In a LinkedIn post published on July 31, Dalio shared his perspective on his departure, expressing his excitement about Bridgewater's continued success without him. He has also emphasized his intention to remain a client and mentor to the firm.
The transition was part of an orderly succession and accompanied by Dalio's shift toward philanthropy and family office matters, as well as a reduced operational role in Bridgewater’s investment decisions. Dalio sold his remaining shares and left the board by 2025, completing his exit from Bridgewater’s governance.
Ray Dalio's net worth is estimated to be $16 billion, according to the Bloomberg Billionaire Index. His departure from Bridgewater marks the end of decades of direct leadership and a formal step back from running the firm. However, his influence on the firm and the industry is expected to continue through his mentorship and philanthropic activities.
[1] The Wall Street Journal: Ray Dalio Steps Down from Bridgewater Associates [2] Bloomberg: Ray Dalio Steps Down from Bridgewater Associates [4] LinkedIn: Ray Dalio's Post on Stepping Down from Bridgewater Associates [5] Bridgewater Associates: Letter to Clients Announcing Dalio's Departure
[1] The news of Ray Dalio's departure from Bridgewater Associates, the hedge-fund firm he founded, was reported by The Wall Street Journal.
[2] Despite selling his remaining shares and stepping away from an executive role, Ray Dalio remains a mentor to Bridgewater Associates.
[3] Ray Dalio's departure signals the end of decades of direct business management, but his influence on the firm's success and the financial industry is expected to continue through his mentorship and philanthropic activities.
[4] Ray Dalio, who is estimated to have a net worth of $16 billion, is shifting his focus towards philanthropy and family office matters, as well as a reduced role in Bridgewater’s investment decisions.
