Ray Dalio

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Ray Dalio
Born (1949-08-08) August 8, 1949 (age 75)[1]
Jackson Heights, Queens, New York, US
Residence Greenwich, Connecticut
Nationality American
Alma mater Long Island University
Harvard Business School
Occupation Founder and CEO, Bridgewater Associates
Net worth Increase US$15.6 billion (February 2016)[2]

Ray Dalio (born August 8, 1949) is an American businessman and founder of the investment firm Bridgewater Associates.[3]

In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world.[4] 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.[5][6] According to Forbes, he was the 30th richest person in America and the 69th richest person in the world with a net worth of $15.2 billion as of October 2014.[7][8]

Early life

Dalio was born in Jackson Heights, Queens, New York, United States.[9] The son of a jazz musician, 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]

Education

Dalio received his BS in Finance from Long Island University (CW Post) and an MBA from Harvard Business School.[1]

Career

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.[10] In 1974, he became a futures trader and broker at Shearson Hayden Stone.[1] In 1975, he founded 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]

In 2007, he predicted the global financial crisis,[11] and in 2008 published an essay, "How the Economic Machine Works; A Template for Understanding What is Happening Now",[12] 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.[13][14][15]

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 2.7 million times,[16] and has been translated and made available in Japanese, Chinese, Russian, Spanish, German, Italian and French.[17]

Personal

Dalio was the only child of Italian American parents. He resides with his wife in Greenwich, Connecticut, and is known to practice the Transcendental Meditation technique.[1][18][19]

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.[20]

In 2014, Dalio was listed as the wealthiest person in the state of Connecticut, with an estimated net worth of $14.3 billion.[21]

Notes

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External links

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "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
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  6. ↑ Hedge Fund Titans’ Pay Stretching to 10 Figures April 15, 2013 New York Times
  7. ↑ Ray Dalio Forbes profile page Forbes.com. Retrieved October 2014.
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  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ "Radical Transparency" 2010, Leaders Magazine. Volume 33, Number 3
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ How the Economic Machine Works; A Template for Understanding What is Happening Now. Ray Dalio, October 31, 2008
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  21. ↑ Wealth-X: Wealthiest Individual in Each U.S. State
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