Ray Dalio, founding father of Bridgewater Associates LP, speaks through the Milken Institute Asia Summit in Singapore, on Wednesday, Sept. 18, 2024. The dimensions of the Federal Reserve’s rate of interest reduce this week will not be a recreation changer for international traders, although dangers from China’s slowdown proceed to weigh on their minds, in line with members on the regional discussion board. Photographer: Ore Huiying/Bloomberg by way of Getty Pictures
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Ray Dalio, founding father of one of many greatest hedge funds Bridgewater, has dumped his remaining shares within the agency and stepped apart from its board.
Bridgewater accomplished the ultimate sale of Dalio’s fairness shares, wrapping up his administration transition began in 2022, in line with an individual aware of the matter. Dalio will proceed to be a major investor in Bridgewater’s methods and a mentor, the individual mentioned.
The billionaire has been promoting his fairness for years. To facilitate the ultimate transition of his possession, Bridgewater raised capital from present traders and staff. Co-CIOs Bob Prince and Greg Jensen are two vital fairness holders, the individual 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 shopper 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, resembling buying and selling foreign money and glued earnings markets based mostly on financial tendencies. Dalio stepped down as Bridgewater’s chief government officer in 2017 and chairman on the finish of 2021.
“I’ve been requested loads 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 effectively with out me — even higher than alive and effectively 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 individual mentioned.
