Bridgewater Associates Founder Ray Dalio Resigns
Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, has resigned from his duties, the billionaire shared today. His resignation is the final step of fully succeeding the company to a new generation of investors. JUST IN: Ray Dalio, Founder of Bridgewater, the world's largest hedge fund, has resigned. — Watcher.Guru (@WatcherGuru) October 4, 2022 “This was the natural progression of events; as soon as we were ready, we went ahead,” says Dalio, 73, in a statement to Bloomberg. He will keep his seat on the board with a new title: founder and CIO mentor. “I didn’t want to hold on until I died.” On Sept. 30, he transferred all of his voting rights to the board of directors and stepped down as one of Bridgewater’s three co-chief investment officers. Now that he has found successors for his role, Dalio is relinquishing all say in the company. “Ray no longer has the final word,” co-Chi...