After pioneering multiple investing strategies, Ray Dalio was listed among the world’s greatest economic innovators. He is the long-running founder, investment officer, and co-chief of Bridgewater Associates, the biggest hedge fund on the planet. As of 2022, Ray Dalio has a net worth of $22 billion according to Forbes.
Early Life
On August 8, 1949, Raymond Thomas Dalio was born in Jackson Heights, New York. His father, Marino Dalio, was a jazz musician, while his mother, Ann, was a homemaker. His family is of Italian origins.
They moved to Manhasset, Nassau County, when Raymond turned eight years old. He worked many jobs when he was a child, including one where he caddied at Marlton’s The Links Golf Club at age 12.
At his job, he met Wall Street professional George Leib. Leib’s son gave Dalio a summer job at his trading business. He studied finance at Long Island University, and he attended Harvard Business School to get an MBA in 1973.
Early Career
When he started investing at 12 years old, Ray Dalio put his money into Northeast Airlines. He had already built a substantial investment portfolio even before he enrolled in high school.
After getting his bachelor’s degree, the young investor served as a clerk at the New York Stock Exchange. Then, he continued to trade in Wilton, Connecticut, after completing his studies at Harvard.
Dalio then traded commodity futures on the New York Stock Exchange. Later on, he held a prominent role at the banking firm Dominick & Dominick. He decided to join Shearson Hayden Stone in 1974 as a broker and futures trader.
Bridgewater Associates
Ray was fired by Shearson Hayden Stone in less than a year. Still, some clients entrusted their money to him. With this, he was able to establish Bridgewater Associates in 1975. Currency and interest rates were two of Dalio’s primary areas of expertise.
When the fast-food chain McDonald’s joined the company as a client, Dalio got his big break. In 2005, Bridgewater Associates became known as the most lucrative hedge fund in the market. Then, Ray tried other ventures.
In 2007, he published his first written work, “How the Economic Machine Works”. Many didn’t understand it, but some praised Dalio for his investment philosophy. More recently he released a book called “Principles for Dealing with the Changing World Order” and it is highly rated on Amazon.
His views have became influential in the finance world, particularly his views on the best countries to invest in. In 2020, he declared that China would come out as a global superpower and could overtake the US.
Net Worth and Earnings
Bridgewater Associates handles assets worth around $150 billion. With the firm, Dalio’s current investments include Mohawk Industries, Carlisle Companies Incorporated, Pool Corporation, and Genuine Parts Company.
His most successful investments are Pepsi, Coca-Cola, and Walmart. Though Ray thinks crypto is very volatile, he personally owns a small amount of Bitcoin but believes the government could take action to stop it. His book sales also contribute to the tycoon’s whopping $22 billion wealth.
Personal Life
Ray Dalio is married to a woman named Barbara. She is a descendant of the prominent sculptor Gertrude Vanderbilt Whitney. They got married after Dalio graduated from Harvard. Now, the couple has four children: Mark, Matthew, Paul, and Devon. Sadly his son Devon died in a car crash in December 2020.
