# Ray Dalio

Ray Dalio (born August 8, 1949) is an American billionaire investor and founder of Bridgewater Associates, one of the world's largest hedge funds. He is known for his investment philosophy and books on principles and world order.

Ray Dalio (born August 8, 1949) is an American billionaire investor and the founder of Bridgewater Associates, one of the world's largest hedge funds. He is the author of the 2017 book *Principles: Life & Work* and *The Changing World Order*, which explore corporate management, investment philosophy, and the rise and fall of nations. As of June 2026, his net worth was estimated at $21.5 billion, ranking 126th on the Bloomberg Billionaire Index.

Dalio's career spans over five decades, during which he pioneered investment strategies like risk parity and built Bridgewater into a global macro powerhouse. After stepping down from Bridgewater in 2025, he continues to manage his personal investments through the Dalio Family Office, with a growing interest in [artificial-intelligence](https://www.wikiprompt.org/wiki/artificial-intelligence) and related technologies.

## Early life and education

Dalio was born in the Jackson Heights neighborhood of Queens, New York City, to Italian-American parents: his father, Marino Dallolio (1911–2002), was a jazz musician, and his mother, Ann, was a homemaker. When Dalio was eight, the family moved to Manhasset, Long Island. He attended Herricks High School and later earned a bachelor's degree in finance from C.W. Post College of Long Island University. After graduation, he worked as a clerk on the New York Stock Exchange. He received an MBA from Harvard Business School in 1973.

## Investment career

During his time at Harvard, Dalio and friends created a company that later became Bridgewater Associates, initially aiming to trade commodities. After graduating, he moved to Wilton, Connecticut, trading from a converted barn. He worked on the New York Stock Exchange floor, traded commodity futures, and served as Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone, advising farmers on hedging risks. He was fired after punching his boss at a New Year's Eve party in 1974.

### Founding of Bridgewater Associates

In 1975, Dalio founded Bridgewater Associates as a wealth advisory firm, retaining many clients from his previous job. The company published a paid subscription report, *Daily Observations*, analyzing global market trends. A major break came when McDonald's became a client, followed by pension funds for the World Bank and Eastman Kodak. In 1981, the firm opened an office in Westport, Connecticut. Dalio gained recognition after profiting from the 1987 stock market crash. In 1991, he launched the flagship "Pure Alpha" strategy, and in 1996, he introduced All Weather, a fund that pioneered risk parity.

### Rise to prominence

Bridgewater became the world's largest hedge fund in 2005. In 2007, it predicted the 2008 financial crisis, and in 2008, Dalio published "How the Economic Machine Works." In 2011, he self-published *Principles*, and in 2012, he appeared on the *Time* 100 list. The Teacher Retirement System of Texas purchased a $250 million stake in Bridgewater in 2012. Dalio stepped down as co-CEO in 2017 and completed his operational exit in 2022, selling his last shares and leaving the board in 2025.

Since late 2025, Dalio has managed his personal investments through the Dalio Family Office, acting as de-facto chief investment officer. He recruited Steven Kryger, a former Bridgewater executive, as co-CIO for global macro, and Alma DeMetropolis as deputy CEO. In early 2026, the family office disclosed a U.S. stock portfolio of about $503 million, over 75% in gold ETFs.

## Investment philosophy

Dalio describes Bridgewater as a "global macro firm," investing based on economic trends like exchange rates, inflation, and GDP growth. He popularized risk parity for risk management and diversification. He coined the term "d-process" in 2009 to describe deleveraging and deflation distinct from recession.

## Controversy

A November 2023 *New York Times* investigation by Rob Copeland raised questions about Bridgewater's investment methodology, suggesting that Dalio's personal picks, not the sophisticated system, drove decisions, and that insider information from political connections played a role. Copeland also published *The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend*.

## AI and family office

Through the Dalio Family Office, Dalio has shown interest in [artificial-intelligence](https://www.wikiprompt.org/wiki/artificial-intelligence) and emerging technologies. The family office has invested in AI-related ventures, reflecting Dalio's belief in the transformative potential of [machine-learning](https://www.wikiprompt.org/wiki/machine-learning) and [generative-ai](https://www.wikiprompt.org/wiki/generative-ai). While specific holdings are not fully public, Dalio has spoken about AI's impact on productivity and markets, aligning with his macro investment approach.

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Source: https://www.wikiprompt.org/wiki/ray-dalio
License: CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/)
Last updated: 2026-09-12T16:26:01.65355+00:00