Dalio Gives Up Running Bridgewater To Mentor The People Running It
Ray Dalio "no longer has the final word" at Bridgewater.
That's a quote from co-Chief Executive Officer Nir Bar Dea, who spoke to Bloomberg for a piece marking the end of Dalio's reign atop the world's largest hedge fund, which he founded from his apartment nearly a half century ago.
Last week, Dalio transferred his voting rights to the board and stepped aside as one of the fund's three co-CIOs. The transition was a long, arduous affair, a dozen years in the making. He called it "the natural p
Round of applause for Mr. Dalio, who built something of substance, thoughtfully (if not always graciously). Along the way, he made a lot of people a lot of money and helped secure comfortable retirements for thousands of Americans. Now that’s he’s retired with more money than god, it’ll be interesting to see what he does with his vast wealth — and what that says about his own principles. FWIW, his initial forays into philanthropy have shown him to be a bit of a control freak. (Not news, I take it.) Here’s hoping his openness to ideas and generosity both continue to expand as his wealth in retirement grows.
The one other Wall Street personality I would compare him to is the late Jack Bogle.