Ray Dalio, founding father of Bridgewater Associates LP, speaks throughout the Milken Institute Asia Summit in Singapore, on Wednesday, Sept. 18, 2024. The scale of the Federal Reserve’s rate of interest reduce this week will not be a recreation changer for international buyers, although dangers from China’s slowdown proceed to weigh on their minds, in response to members on the regional discussion board. Photographer: Ore Huiying/Bloomberg by way of Getty Photographs
Bloomberg | Bloomberg | Getty Photographs
Ray Dalio, founding father of one of many greatest hedge funds Bridgewater, has dumped his remaining shares within the agency and stepped other than its board.
Bridgewater accomplished the ultimate sale of Dalio’s fairness shares, wrapping up his administration transition began in 2022, in response to an individual acquainted with the matter. Dalio will proceed to be a major investor in Bridgewater’s methods and a mentor, the particular person mentioned.
The billionaire has been promoting his fairness for years. To facilitate the ultimate transition of his possession, Bridgewater raised capital from present buyers and staff. Co-CIOs Bob Prince and Greg Jensen are two vital fairness holders, the particular person mentioned.
“We share our congratulations to Ray – he’ll all the time be our cherished founder, is a mentor to many, and stays a longstanding consumer with vital investments in Bridgewater’s methods,” Bridgewater CEO Nir Bar Dea and Co-Chair Mike McGavick mentioned in a July 21 letter to shoppers seen by CNBC. “Ray has all the time described the transition as a ‘dream come true’ and we’re excited to have made it a actuality collectively.”
The Wall Road Journal first reported Dalio’s stake sale. The founder seemingly confirmed the transition in a LinkedIn post.
Dalio, who based Bridgewater in 1975, has targeted on macro methods, comparable to buying and selling foreign money and stuck earnings markets based mostly on financial traits. Dalio stepped down as Bridgewater’s chief govt officer in 2017 and chairman on the finish of 2021.
“I’ve been requested rather a lot about how I really feel about passing alongside Bridgewater after having began and constructed it over the past 50 years,” Dalio mentioned within the LinkedIn publish. “I’m thrilled about it as a result of I like seeing Bridgewater alive and nicely with out me — even higher than alive and nicely with me.”
Bridgewater loved strong beneficial properties within the first half of 2025, with its Pure Alpha fund up 17% and its All Climate fund rising 8%, the particular person mentioned.