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Billionaire Ray Dalio Cedes Control of World’s Largest Hedge Fund

Bridgwater Associates, known for its culture of “radical transparency,” manages roughly $150 billion in assets.

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Kimberly White/Getty Images for TechCrunch

By Noah Kirsch

Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, announced on Tuesday that he is stepping away from the firm after 47 years, ushering in a long-anticipated corporate succession. Dalio took to Twitter to reminisce on his ascent, from his early days working with two people “helping me in my 2-bedroom apartment to a multi-generation institution [with] 1,300 people.” Bridgewater, known for a controversial culture of “radical transparency,” manages roughly $150 billion in assets. Dalio said he hopes to remain an “a mentor, an investor, and board member at Bridgewater” for the rest of his life.

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