Ray Dalio, born August 8, 1949, is an American billionaire and hedge fund manager. He is best known as the founder of Bridgewater Associates, which he started in 1975 from his two-bedroom apartment in New York City. Over 47 years, he grew Bridgewater into a global institution. The firm serves institutional clients, including pension funds, endowments, foundations, foreign governments, and central banks. Dalio stepped down from his role as CEO in 2017, as CIO in the summer of 2020, and as Chairman at the end of 2021. By 2025, he had sold off his full stake in the firm.
Dalio's investment philosophy centers on global macro trends, using quantitative methods to identify investments and focusing on currency and fixed income markets. He popularized the risk parity approach to risk management. He also introduced innovative investment strategies such as separating alpha and beta and engineering them into return streams. While he no longer manages daily operations at Bridgewater Associates, he continues to mentor the leadership and share insights on finance and organizational strategy. In September 2025, Dalio took on the role of de facto chief investment officer for his family office. Recently, in February 2026, Dalio cautioned about the potential downsides of central bank digital currencies (CBDCs), particularly regarding the lack of privacy and government control.