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Raymond Dalio (born August 8, 1949) is an American investor, hedge fund manager and philanthropist.[3] Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds.[4]

Ray Dalio
Born Raymond Dalio
(1949-08-08) August 8, 1949 (age 68)[1]
Jackson Heights, Queens, New York, U.S.
Residence Greenwich, Connecticut, U.S.
Nationality American
Alma mater Long Island University
Harvard Business School
Occupation Investor, hedge fund manager, and philanthropist
Known for Founder of Bridgewater Associates
Net worth US$17 billion (July 2017)[2]
Spouse(s) Barbara Dalio
Children 4 sons, including Paul Dalio
Parent(s) Marino Dallolio
Ann Dallolio

Contents

Early life and educationEdit

Raymond Dalio was born in Jackson Heights, Queens, New York.[5] He is the son of a jazz musician, Marino Dallolio (1911-2002), who "played the clarinet and saxophone at Manhattan jazz clubs such as the Copacabana", and Ann, a homemaker.[5][6]

Dalio began investing at age 12. At this young age he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company.[1] Dalio received a bachelor's degree in finance from Long Island University (CW Post) and an MBA from Harvard Business School.[1]

Investment careerEdit

After completing his education, Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures.[1] He later worked as the Director of Commodities at Dominick & Dominick LLC.[7] In 1974, he became a futures trader and broker at Shearson Hayden Stone.[1] In 1975, he founded, out of his apartment,[8] the Westport, Connecticut based investment management firm, Bridgewater Associates which in 2012 became the largest hedge fund in the world, as it is today, with over $160 billion in assets under management, as of October 2014.[1]

Dalio has said that he could continue improving his returns by solidifying recurring lessons into "principles."[8]

Dalio announced in March 2017 that he would step down as co-CEO of Bridgewater as part of a company-wide shake-up by April 15.[9] Jon Rubinstein, co-CEO of the fund, was announced to step down with Dalio, but would retain an advisory role.[9]

Personal lifeEdit

Dalio resides with his wife Barbara (married in 1976/77)[5] in Greenwich, Connecticut, and is known to practice the Transcendental Meditation technique.[1][10][11] They have four sons.[6] Their eldest son Paul Dalio is a film director.[12] Their second son, Matthew A. "Matt" Dalio is founder and chairman of the China Care Foundation, a non-profit that seeks to help Chinese orphans, and CEO of Endless Mobile, a smartphone software company.[13]

Political and economic viewsEdit

In 2007, Bridgewater predicted the global financial crisis,[14] and in 2008 Dalio published an essay, "How the Economic Machine Works; A Template for Understanding What is Happening Now",[15] which explained his model for the economic crisis.

In 2011, he self-published a 123-page volume called Principles, which outlined his logic and personal philosophy for investments and corporate management based on a lifetime of observation, analysis and practical application through his hedge fund.[16][17][18]

In 2013, Dalio began sharing his "investment secrets" and economic theories on YouTube via a 30-minute animated video which he narrates, called How The Economic Machine Works; the video has since been viewed over 3.8 million times,[19] and has been translated and made available in Japanese, Chinese, Russian, Spanish, German, Italian and French.[20]

In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world.[21] In 2011 and 2012 he was listed by Bloomberg Markets as one of the 50 Most Influential people. Institutional Investor's Alpha ranked him No. 2 on their 2012 Rich List.[22][23] Dalio has a fortune of $15.9 billion, making him the 30th richest person in America[24] and the 69th richest person in the world.[2]

Wealth and philanthropyEdit

According to Forbes Magazine, Dalio has a net worth of $17 billion, as of July 2017.[25]

In April 2011, together with his wife Barbara, Dalio joined Bill Gates and Warren Buffett's Giving Pledge, vowing to donate more than half his fortune to charitable causes within his lifetime.[26]

Publications and worksEdit

ReferencesEdit

  1. ^ a b c d e f g "Pursuing Self-Interest in Harmony With the Laws of the Universe and Contributing to Evolution is Universally Rewarded" Kevin Roose, April 10, 2011, New York Magazine
  2. ^ a b "Ray Dalio". Forbes.com. Retrieved July 30, 2017. 
  3. ^ "The Rise of Dalio Philanthropy: A Case Study of the New Mega-Giving". Inside Philanthropy. Retrieved April 22, 2017. 
  4. ^ "Ray Dalio, Founder of World's Largest Hedge Fund: Weak Economy Makes Second Adolf Hitler More Likely". Algemeiner. Retrieved March 19, 2013. 
  5. ^ a b c Wright, Robin (September 15, 2008). "Mastering the Machine". The New Yorker. Retrieved June 8, 2017. 
  6. ^ a b "The Palm Beach Post from West Palm Beach, Florida on September 4, 2002 · Page 38". Newspapers.com. September 4, 2002. Retrieved June 8, 2017. 
  7. ^ "Radical Transparency" 2010, Leaders Magazine. Volume 33, Number 3
  8. ^ a b "The head of the world's largest hedge fund explains how he learned to invest". Business Insider. Retrieved April 12, 2017. 
  9. ^ a b Cox, Jeff (2017-03-01). "Bridgewater's Ray Dalio to step down at Co-CEO on April 15". Retrieved 2017-06-23. 
  10. ^ Opalesque (January 8, 2008). "Ray Dalio’s winning strategy". 
  11. ^ Comstock, Courtney (October 25, 2010). "Ray Dalio Is Too Modest To Admit He Returned 38% YTD Using Transcendental Meditation". Business Insider. 
  12. ^ Finance (March 19, 2012). "Ray Dalio's Son Is An Entertainment Producer, And He's Directing A Movie About Maniac Depressives With Spike Lee's Support". Business Insider. Retrieved June 2, 2017. 
  13. ^ NEDonBoard.com (June 25, 2014). "Top 10 Hedge Fund Guru’s children: The Privileged Lives of Hedge Fund Heirs". Alpha Banker. Retrieved June 8, 2017. 
  14. ^ Cassidy, John (July 25, 2011). "Mastering the Machine How Ray Dalio built the world’s richest and strangest hedge fund". The New Yorker. Retrieved December 18, 2013. 
  15. ^ How the Economic Machine Works; A Template for Understanding What is Happening Now. Ray Dalio, October 31, 2008
  16. ^ Ovide, Shira (October 22, 2010). "More on Bridgewater’s Ray Dalio, Wall Street’s Oddest Duck". The Wall Street Journal. Retrieved December 4, 2013. 
  17. ^ Dalio, Ray (2011). "Ray Dalio’s Principles" (PDF). 
  18. ^ Rosenthal, Norman E. (2013). "The Gift of Adversity". The Gift of Adversity. Penguin Group. pp. Chapter 41. Retrieved December 4, 2013. 
  19. ^ Sorkin, Andrew Ross (October 21, 2013). "Economic Theory, via YouTube and Cartoon". New York Times. Retrieved December 4, 2013. 
  20. ^ "How the Economic Machine Works". YouTube. April 7, 2015. 
  21. ^ Volcker, Paul (April 18, 2012). "The 100 Most Influential People in the World". Time. Retrieved August 15, 2012. 
  22. ^ Taub, Steven (April 15, 2013). "The Rich List". Institutional Investor's Alpha. Retrieved April 16, 2013. 
  23. ^ Hedge Fund Titans' Pay Stretching to 10 Figures April 15, 2013 New York Times
  24. ^ Mason, Melvin. "Greenwich Home to Billionaires on Forbes List". The Greenwich Daily Voice. Retrieved July 26, 2012. 
  25. ^ "Ray Dalio". Forbes. Retrieved February 2, 2017. 
  26. ^ "Bridgewater's Dalio Joins Giving Pledge - NY Times". NY Times. April 28, 2011. Retrieved April 29, 2015. 

External linksEdit