Ray Dalio

Ray Dalio
Born (1949-08-08) August 8, 1949[1]
Jackson Heights, Queens, New York, US
Residence Greenwich, Connecticut
Nationality American
Alma mater Long Island University and 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 BA from Long Island University 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, Ray Dalio 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 2.1 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

  1. 1 2 3 4 5 6 7 "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. ↑ "Forbes 400". Forbes. Retrieved 25 March 2015.
  3. ↑ "Ray Dalio, Founder of World’s Largest Hedge Fund: Weak Economy Makes Second Adolf Hitler More Likely". Algemeiner. Retrieved 19 March 2013.
  4. ↑ Volcker, Paul (18 April 2012). "The 100 Most Influential People in the World". Time. Retrieved 15 August 2012.
  5. ↑ Taub, Steven (2013-04-15). "The Rich List". Institutional Investor’s Alpha. Retrieved 2013-04-16.
  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.
  8. ↑ Mason, Melvin. "Greenwich Home to Billionaires on Forbes List". The Greenwich Daily Voice. Retrieved 26 July 2012.
  9. ↑ Cassidy, John (25 July 2011). "Mastering the Machine". The New Yorker.
  10. ↑ "Radical Transparency" 2010, Leaders Magazine. Volume 33, Number 3
  11. ↑ 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.
  12. ↑ How the Economic Machine Works; A Template for Understanding What is Happening Now- Ray Dalio, October 31, 2008
  13. ↑ Ovide, Shira (October 22, 2010). "More on Bridgewater’s Ray Dalio, Wall Street’s Oddest Duck". The Wall Street Journal. Retrieved December 4, 2013.
  14. ↑ Dalio, Ray (2011). "Ray Dalio’s Principles" (PDF).
  15. ↑ Rosenthal, Norman E. (2013). "The Gift of Adversity". The Gift of Adversity. Penguin Group. pp. Chapter 41. Retrieved December 4, 2013.
  16. ↑ Sorkin, Andrew Ross (October 21, 2013). "Economic Theory, via YouTube and Cartoon". New York Times. Retrieved December 4, 2013.
  17. ↑ "How the Economic Machine Works". YouTube. April 7, 2015.
  18. ↑ Opalesque (8 January 2008). "Ray Dalio’s winning strategy".
  19. ↑ Comstock, Courtney (October 25, 2010). "Ray Dalio Is Too Modest To Admit He Returned 38% YTD Using Transcendental Meditation". Business Insider.
  20. ↑ "Bridgewater's Dalio Joins Giving Pledge - NY Times". NY Times. 28 April 2011. Retrieved 29 April 2015.
  21. ↑ Wealth-X: Wealthiest Individual in Each U.S. State

External links

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