Greenwich’s Ray Dalio Cedes Control of Bridgewater Associates to the Next Generation

On Tuesday, Greenwich resident Ray Dalio shared some big news on Twitter, announcing he would transition control of Bridgewater Associates to the next generation.

“I feel great about the people and ‘machine’ now in control,” he wrote in a series of 11 Tweets.

Dalio, 73, a billionaire who started Bridgewater, the largest hedge fund in the world with $150 billion in assets under management, in a two-bedroom apartment 47 years earlier and grew it to a multi-generation institution with 1,300 people.

“I can now visualize it doing great things for generations w/ out me,” he posted on Twitter. “That’s as good as it gets.”

Dalio explained that the investment side of Bridgewater will be in the hands of co-chief investment officers Bob Prince and Greg Jensen, who worked with him over 35 years and 25 years respectively, and that the business side will be run by co-chief executive officers Nir Bar Dea and Mark Bertolini.

Dalio said he intended to continue to be a mentor, an investor, and board member for the rsst of his life.

He shared a link to a Youtube video on his 47-year journey.

Mr. Dalio founded the business in 1975 and grew it over 47 years into the global institution it is today.

According to the Bridgewater website, over the years, Dalio served Bridgewater CEO, CIO, and Chairman. He stepped down from being CEO in 2017, as Chairman at the end of 2021, and in the summer of 2020 he transitioned his CIO role to focus on mentoring the Investment Committee.