About Ray Dalio
Ray Dalio is 69 years old American investor, hedge fund manager and philanthropist by occupation. He is well known for establishing Bridge water Associates; an investment management firm in 1975 which is one of the world’s largest investment firms and that manages $160 billion. According to Bloomberg, he made it to the list of world’s 100 richest people in February 2018 and has also joined Warren Buffett and Bill Gates pledge to give more than half of his fortune to charitable foundations within his lifetime.
Early Life
Ray Dalio was born on 8th August, 1949 in New York City, New York, United States as Raymond Dalio to Ann and Marino Dallolio. His father was a jazz musician who used to play clarinet and saxophone in night clubs like Manhattan’s Copacabana whereas mother was a homemaker. He holds Italian descent and was raised in suburban community of Manhasset after his family moved farther out on Long Island. At age 12 he worked as a caddy at the Links Golf Club where his customers included the Duke of Windsor and the former vice president Richard
Nixon, as well as many Wall Street investors. He was young when he decided to invest his $300 by buying shares of Northeast Airlines and tripling his profit after the company got merged with another one. He completed his education in finance by attending Long Island University and later received his MBA from Harvard Business School in 1973.
Career
After completing his education Ray started his career at the New York Stock Exchange trading commodity futures. He later started to serve as the Director of Commodities at the Dominick & Dominick LLC followed by his another job at Shearson Hayden Stone as futures broker and trader in 1974. He then in 1975 decided to start his own investment management firm under name Bridgewater Associates which is now considered to be one of the world’s largest hedge funds. In 1985, Bridgewater signed the World Bank’s employee retirement fund as one of its clients. The list later increased in numbers investing on large scale around the world. He stood at the co-CEO position just for ten months and later decided to step down by retaining an advisory role. As of 2018, he turned Bridgewater into a partnership and gave employees more of a stake in the firm.
Aside from being an investor he is also an author and has published the essay ‘How the Economic Machine Works: A Template for Understanding what is Happening Now.’ His further publications include book titled ‘Principles’ focusing on details of his philosophy on investment as well as corporate management based on his self analysis and corporate experiences. He even holds Dalio Foundation by directing millions of dollars in donation to the David Lynch Foundation promoting Transcendental Meditation.
Achievements
His published work titled Principles (2017) got listed among 13 Best Business Books of 2017 by CNBC.
Personal life
Ray Dalio got married to Barbara Dalio and is father of four sons; Devon, Paul, Matthew and Mark Dalio.
Net Worth
It is estimated to be around 1,840 crores USD in 2019.
