August 1, 1949 |
Jackson Heights, Queens, New York, US
|Alma mater||Long Island University and Harvard Business School|
|Occupation||Founder and CEO, Bridgewater Associates|
|Net worth||$15.4 billion|
Ray Dalio (born August 1, 1949) is an American businessman and founder of the investment firm Bridgewater Associates. In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world. 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. According to Forbes, he is 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.
Early life and education
Dalio was born in Jackson Heights, Queens, New York, United States. The son of a jazz musician, Dalio began investing at age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company. He received his BA from Long Island University and an MBA from Harvard Business School.
After completing his education, Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures. He later worked as the Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone. 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.
In 2007, Ray Dalio predicted the global financial crisis, and in 2008 published an essay, "How the Economic Machine Works; A Template for Understanding What is Happening Now", which explained his model for the economic crisis. He self-published a 123 page volume called Principles, in 2011, 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. 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 one million times.
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- Cassidy, John (25 July 2011). "Mastering the Machine". The New Yorker.
- "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
- "Radical Transparency" 2010, Leaders Magazine. Volume 33, Number 3
- 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.
-  How the Economic Machine Works; A Template for Understanding What is Happening Now- Ray Dalio, October 31, 2008
- Ovide, Shira (October 22, 2010). "More on Bridgewater’s Ray Dalio, Wall Street’s Oddest Duck". The Wall Street Journal. Retrieved December 4, 2013.
- Dalio, Ray (2011). "Ray Dalio’s Principles".
- Rosenthal, Norman E. (2013). "The Gift of Adversity". The Gift of Adversity. Penguin Group. pp. Chapter 41. Retrieved December 4, 2013.
- Sorkin, Andrew Ross (October 21, 2013). "Economic Theory, via YouTube and Cartoon". New York Times. Retrieved December 4, 2013.
- Opalesque (8 January 2008). "Ray Dalio’s winning strategy".
- Comstock, Courtney (October 25, 2010). "Ray Dalio Is Too Modest To Admit He Returned 38% YTD Using Transcendental Meditation". Business Insider.
- Weizel, Richard. "Eight County Billionaires Make Forbes Richest List". The Norwalk Daily Voice. Retrieved 13 July 2012.
- Wealth-X: Wealthiest Individual in Each U.S. State
- Profile at Forbes
- "Most Influential 50 People in Global Finance" Bloomberg Markets Magazine, September 7, 2011
- "Mastering the Machine" New Yorker, July 25, 2011
- "In Punishing Year for Hedge Funds, Biggest One Thrived" New York Times, Dealbook, January 26, 2012
- "Ray-man running hedge fund in his own image" Financial Times, March 2, 2012
- "Ray Dalio Quotations"
- Ray Dalio: How The Economic Machine Works (video) on YouTube