Ray Dalio

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Ray Dalio
Ray Dalio Sept 23 2017 NYC.jpg
BornRaymond Dalio
(1949-08-08) August 8, 1949 (age 69)[1]
New York City, New York, U.S.
ResidenceGreenwich, Connecticut, U.S.
Alma materLong Island University
Harvard Business School
OccupationInvestor, hedge fund manager, and philanthropist
Known forFounder of Bridgewater Associates
Net worthUS$18.1 billion (September 2018)[2]
Spouse(s)Barbara Dalio
Children4 sons, including Paul Dalio
Parent(s)Marino Dallolio
Ann Dallolio
Ray Dalio speech

Raymond Dalio (born August 8, 1949) is an American billionaire investor, hedge fund manager, and philanthropist.[3] Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds.[4] As of January 2018, he is one of the world's 100 wealthiest people, according to Bloomberg.[5]

Early life and education[edit]

Raymond Dalio was born in the Jackson Heights neighborhood of New York City's Queens borough.[6] He is the son of a jazz musician, Marino Dallolio (1911-2002), who "played the clarinet and saxophone at Manhattan jazz clubs such as the Copacabana," and Ann, a homemaker.[6][7][8] He is of Italian descent.[8]

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.[9] Dalio received a bachelor's degree in finance from Long Island University (CW Post) and an MBA from Harvard Business School.[9]

Investment career[edit]

After completing his education, Dalio worked on the floor of the New York Stock Exchange and traded commodity futures.[9] 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.[9] In 1975, he founded investment management firm, Bridgewater Associates, out of his apartment.[11] The firm opened an office in Westport, Connecticut in 1981, and in 2005, the firm became the largest hedge fund in the world.[11] The firm had $160 billion in assets under management, as of October 2017.[12]

Dalio has said that he could continue improving his returns by solidifying recurring lessons into "principles."[11]

Dalio was co-CEO of Bridgewater for 10 months before he announced in March 2017 that he would step down as part of a company-wide shake-up by April 15.[13] The company had been in a seven-year management and equity transition to find a replacement.[14] Jon Rubinstein, co-CEO of the fund, was announced to step down with Dalio, but would retain an advisory role.[13]

In 2007, Bridgewater predicted the global financial crisis,[15] and in 2008 Dalio published an essay, "How the Economic Machine Works; A Template for Understanding What is Happening Now",[16] explaining 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.[17][18]

In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world.[19] 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.[20][21]

Personal life[edit]

Dalio resides with his wife Barbara (married in 1976/77)[6] in Greenwich, Connecticut, and is known to practice the Transcendental Meditation technique.[9][22][23] They have four sons, Devon, Paul, Matthew, and Mark.[7] Devon, their eldest son (born March 26, 1978), was named after North Devon cattle because Ray was deeply involved in cattle futures at the time.[24] Second son Paul Dalio is a film director.[25] Matthew Ace "Matt" Dalio, their third son, is founder and chairman of the China Care Foundation, a non-profit that seeks to help Chinese orphans, and co-founder and CEO of Endless Mobile, Inc., a computer operating system company.[26][27] Their youngest son Mark Dalio is a wildlife filmmaker.

Wealth and philanthropy[edit]

Dalio giving a speech on philanthropy.

According to Forbes Magazine, Dalio's net worth was $17.4 billion as of April 2018.[28]

In 2014, Dalio reportedly earned $1.1 billion including a share of his firm's management and performance fees, cash compensation and stock and option awards.[29]

In April 2011, he and his wife Barbara joined Bill Gates and Warren Buffett's Giving Pledge, vowing to donate more than half his fortune to charitable causes within his lifetime.[30] Through the Dalio Foundation, he has directed millions in donations to the David Lynch Foundation, which promotes and sponsors research on Transcendental Meditation.[31]

The Dalio Foundation has also contributed to the National Philanthropic Trust, to support polio eradication projects, as well as the New York-Presbyterian Hospital.[32] The Foundation has also supported the Fund for Teachers, an initiative that supports professional learning fellowships for teachers.[33]

The Dalio Foundation was part of a group of foundations supporting the 2018 launch of TED's Audacious Project, an initiative to fund social entrepreneurs working to solve global issues.[34]

Publications and works[edit]

  • Dalio, Ray. How the Economic Machine Works; A Template for Understanding What is Happening Now. (2007)[35]
  • Dalio, Ray. Principles. (2017)[36]
    • Best Business Books of 2017, CNBC.[37]
  • Dalio, Ray. A Template For Understanding Big Debt Crises. (2018)[38]


  1. ^ "Bloomberg Billionaire Index". Retrieved 18 April 2018.
  2. ^ "Forbes profile: Ray Dalio". Forbes.com. Retrieved 17 March 2018.
  3. ^ "The Rise of Dalio Philanthropy: A Case Study of the New Mega-Giving". Inside Philanthropy. Retrieved April 22, 2017.
  4. ^ "Ray Dalio, Founder of World's Largest Hedge Fund: Weak Economy Makes Second Adolf Hitler More Likely". Algemeiner. Retrieved March 19, 2013.
  5. ^ "Bloomberg Billionaires Index - Ray Dalio". Bloomberg.com. Retrieved 2017-12-28.
  6. ^ a b c Wright, Robin (September 15, 2008). "Mastering the Machine". The New Yorker. Retrieved June 8, 2017.
  7. ^ a b "The Palm Beach Post from West Palm Beach, Florida on September 4, 2002 · Page 38". Newspapers.com. September 4, 2002. Retrieved June 8, 2017.
  8. ^ a b Cometto, Maria Teresa. "Ray Dalio, il libretto rosso dello speculatore che attacca l'Italia". Corriere della Sera (in Italian). Retrieved 2018-04-12.
  9. ^ a b c d e "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
  10. ^ "Radical Transparency" 2010, Leaders Magazine. Volume 33, Number 3
  11. ^ a b c "The head of the world's largest hedge fund explains how he learned to invest". Business Insider. Retrieved April 12, 2017.
  12. ^ Goldstein, Matthew (2017-10-16). "Small Endowments May Get to Invest in Bridgewater Associates". The New York Times. ISSN 0362-4331. Retrieved 2018-04-12.
  13. ^ a b Cox, Jeff (2017-03-01). "Bridgewater's Ray Dalio to step down at Co-CEO on April 15". Retrieved 2017-06-23.
  14. ^ Cox, Jeff (2017-03-01). "Bridgewater's Ray Dalio stepping down from co-CEO role in company shakeup". CNBC. Retrieved 2017-12-28.
  15. ^ 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.
  16. ^ How the Economic Machine Works; A Template for Understanding What is Happening Now. Ray Dalio, October 31, 2008
  17. ^ Ovide, Shira (October 22, 2010). "More on Bridgewater's Ray Dalio, Wall Street's Oddest Duck". The Wall Street Journal. Retrieved December 4, 2013.
  18. ^ Rosenthal, Norman E. (2013). "The Gift of Adversity". The Gift of Adversity. Penguin Group. pp. Chapter 41. Retrieved December 4, 2013.
  19. ^ Volcker, Paul (April 18, 2012). "The 100 Most Influential People in the World". Time. Retrieved August 15, 2012.
  20. ^ Taub, Steven (April 15, 2013). "The Rich List". Institutional Investor's Alpha. Retrieved April 16, 2013.
  21. ^ Hedge Fund Titans' Pay Stretching to 10 Figures April 15, 2013 New York Times
  22. ^ Opalesque (January 8, 2008). "Ray Dalio's winning strategy".
  23. ^ Comstock, Courtney (October 25, 2010). "Ray Dalio Is Too Modest To Admit He Returned 38% YTD Using Transcendental Meditation". Business Insider.
  24. ^ Ray Dalio, Principles, Simon & Schuster, 2017, pp.24-25.
  25. ^ Finance (March 19, 2012). "Ray Dalio's Son Is An Entertainment Producer, And He's Directing A Movie About Maniac Depressives With Spike Lee's Support". Business Insider. Retrieved June 2, 2017.
  26. ^ "Top 10 Hedge Fund Guru's children: The Privileged Lives of Hedge Fund Heirs". Alpha Banker. June 25, 2014. Retrieved June 8, 2017.
  27. ^ "About Us | Endless Computers". Endlessos.com. Retrieved 2017-10-19.
  28. ^ "Ray Dalio". Forbes. Retrieved 2018-04-09.
  29. ^ H. Kent Baker; Greg Filbeck (26 July 2017). Hedge Funds: Structure, Strategies, and Performance. Oxford University Press. pp. 52–. ISBN 978-0-19-060739-5.
  30. ^ "Bridgewater's Dalio Joins Giving Pledge - NY Times". NY Times. April 28, 2011. Retrieved April 29, 2015.
  31. ^ "Hedge Fund Billionaire Ray Dalio Gives Big for David Lynch". www.institutionalinvestor.com. Retrieved 2017-08-23.
  32. ^ Vardi, Nathan. "Hedge Fund Billionaire Ray Dalio Steps Up Foundation Giving". Forbes. Retrieved 2018-04-09.
  33. ^ "9 Stamford Educators Receive Grants For U.S. & Foreign Studies". Stamford, CT Patch. 2018-04-09. Retrieved 2018-04-10.
  34. ^ Nicosia, Mareesa. "TED Launches The Audacious Project, Awarding $250M to New Crop of Social Entrepreneurs". Retrieved 2018-04-10.
  35. ^ Dalio, Ray (January 13, 2018). "A Template for Understanding What's Going On" (PDF).
  36. ^ Stevenson, Alexandra; Goldstein, Matthew (September 8, 2017). "Bridgewater's Ray Dalio Spreads His Gospel of 'Radical Transparency'". The New York Times. ISSN 0362-4331.
  37. ^ Clifford, Catherine (2017-12-27). "13 of the best business books of 2017". CNBC. Retrieved 2017-12-28.
  38. ^ Montag, Ali (2018-09-14). "Billionaire Ray Dalio remembers the moment he saw the financial crisis coming: 'This is the big one'". CNBC. Retrieved 2018-09-17.

External links[edit]