August 8, 1949 |
New York, New York, U.S.
|Residence||Greenwich, Connecticut, U.S.|
|Alma mater||Long Island University
Harvard Business School
|Occupation||Investor, hedge fund manager, and philanthropist|
|Known for||Leadership of Bridgewater Associates|
|Net worth||US$15.9 billion (February 2017)|
Ray Dalio (born August 8, 1949) is an American investor, hedge fund manager and philanthropist. Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds.
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. Dalio has a fortune of $15.9 billion, making him the 30th richest person in America and the 69th richest person in the world.
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. At this young age he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company. Dalio received a bachelor's degree in finance from Long Island University (CW Post) 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, out of his apartment, 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.
Dalio has said that he could continue improving his returns by solidifying recurring lessons into "principles."
Political and economic views
In 2007, he 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.
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.
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, and has been translated and made available in Japanese, Chinese, Russian, Spanish, German, Italian and French.
Wealth and philanthropy
In 2014, Dalio was listed as the wealthiest person in the state of Connecticut, with an estimated net worth of $14.3 billion. According to Forbes Magazine, Dalio has a net worth of $15.9 billion, as of February 2017.
Publications and works
- Dalio, Ray. How the Economic Machine Works; A Template for Understanding What is Happening Now. (2007)
- Dalio, Ray. Principles. (2011)
- "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
- "Forbes 400". Forbes. Retrieved 25 March 2015.
- "The Rise of Dalio Philanthropy: A Case Study of the New Mega-Giving". Inside Philanthropy. Retrieved 2017-04-22.
- "Ray Dalio, Founder of World's Largest Hedge Fund: Weak Economy Makes Second Adolf Hitler More Likely". Algemeiner. Retrieved 19 March 2013.
- Volcker, Paul (18 April 2012). "The 100 Most Influential People in the World". Time. Retrieved 15 August 2012.
- Taub, Steven (2013-04-15). "The Rich List". Institutional Investor's Alpha. Retrieved 2013-04-16.
- Hedge Fund Titans' Pay Stretching to 10 Figures April 15, 2013 New York Times
- Mason, Melvin. "Greenwich Home to Billionaires on Forbes List". The Greenwich Daily Voice. Retrieved 26 July 2012.
- "Ray Dalio". Forbes. Retrieved 2017-02-02.
- Cassidy, John (25 July 2011). "Mastering the Machine". The New Yorker.
- "Radical Transparency" 2010, Leaders Magazine. Volume 33, Number 3
- "The head of the world's largest hedge fund explains how he learned to invest". Business Insider. Retrieved 2017-04-12.
- 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.
- 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" (PDF).
- 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.
- "How the Economic Machine Works". YouTube. April 7, 2015.
- Wealth-X: Wealthiest Individual in Each U.S. State
- "Ray Dalio". Forbes. Retrieved 2017-02-02.
- "Bridgewater's Dalio Joins Giving Pledge - NY Times". NY Times. 28 April 2011. Retrieved 29 April 2015.
- Profile at Forbes
- Ray Dalio on Charlie Rose
- "Most Influential 50 People in Global Finance" Bloomberg Markets, September 7, 2011
- "Mastering the Machine" New Yorker, July 25, 2011
- "In Punishing Year for Hedge Funds, Biggest One Thrived" The New York Times, January 26, 2012
- "Ray-man running hedge fund in his own image" Financial Times, March 2, 2012
- "Ray Dalio Quotations"
- on YouTube