Ray Dalio (born August 8, 1949) is an American investor and hedge fund manager. 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 USD 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.
Investment career
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.
Personal life
Dalio is the only child of Italian American parents. He resides with his wife in Greenwich, Connecticut, and is known to practice the Transcendental Meditation technique.
Best recognized as the founder of the investment firm Bridgewater Associates, Ray Dalio is an American businessman with an estimated net worth of $14.5 billion in August 2018. He was named as one of the top 50 most influential people by Bloomberg Markets. In 2012, he was included in the list of top 100 most influential personalities in the world by Time magazine. After completing his MBA degree at Harvard Business School, Ray Dalio decided to work in the New York Stock Exchange. Later on, he was hired by Dominick & Dominick LLC as the Director of Commodities. A year after he started working for Shearson Hayden Stone, he founded Bridgewater Associates, an investment management firm based in Westpoint Connecticut. Managing over $120 worth of assets, Bridgewater Associates was considered as the largest hedge fund managing company in the world in 2012.
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