Ray Dalio steps down from Bridgewater Associates, cedes voting rights
Billionaire investor Ray Dalio is relinquishing control of the firm he founded, Bridgewater Associates — the largest hedge fund in the world with $150 billion in assets under management.
The 73-year-old financier is stepping away from his title as co-Chief Investment Officer, a role in which he served since 1985, and has ceded his voting rights to the board of directors on Sept. 30 in the final step of the firm's succession plan.
This was the natural progression of events; as soon as we were ready, we went ahead,” Dalio said in an interview with Bloomberg. “I didn’t want to hold on until I died.”
Dalio said in a series of tweets on Tuesday that he will continue to mentor Co-Chief Investment Officers Bob Prince and Greg Jensen, as well as the investment committee. He will also serve as a member of the operating board and as a senior investor.
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