Founder of world's largest hedge fund Ray Dalio resigns as co-CIO of Bridgewater Associates

Ray Dalio, who established Bridgewater Associates more than 40 years ago, resigned as co-CIO on Tuesday, October 4. After the hedge fund founder gave all his voting rights to the board of directors on September 30, Bloomberg's Erik Schatzker broke the story.

Ray Dalio established Bridgewater in 1975, and during the first 10 years of operation, the World Bank invested $5 million in the company. Ray Dalio was a titan of the hedge fund industry.





Nir Bar Dea, the co-chief executive of Bridgewater, informed the reporter that Ray is no longer in charge. On Twitter, Ray Dalio also addressed his resignation, telling followers that it was an important day for him since he had handed management of Bridgewater to the next generation.

In addition, Ray Dalio is known for his criticism of blockchain and bitcoin (BTC). Ray Dalio has frequently stated that governments would eventually outlaw cryptocurrency.

Ray Dalio remarked that he wanted to diversify his holdings, so he had a small amount of cryptocurrency in his portfolio in February. He added that several countries would prohibit it.

Ray Dalio indicated that the hedge fund's co-CEOs, Mark Bertolini and Nir Bar Dea, would oversee top management at Bridgewater.

FAQ

What is Bridgewater Associates?
Ray Dalio established the American investment management company Bridgewater Associates.

What kind of fund is Bridgewater?
With more than $150 billion in assets, Bridgewater Associates is the biggest hedge fund in the world.