Billionaire hedge fund founder Ray Dalio has stepped down as chief executive officer of Bridgewater Associates following the September 30 transfer of voting rights. The Bridgewater co-CEO explained on September 29 that “Ray no longer has the final say” on the hedge fund’s future.
Ray Dalio, founder of hedge fund giant Bridgewater Associates, steps down, with co-CEOs Mark Bertolini and Nir Bhardea taking over senior management roles
On Tuesday, October 4, Ray Dalio, who founded Bridgewater Associates more than 40 years ago, stepped down as co-CEO. Bloomberg’s Eric Schatzker first reportedThe report comes after the hedge fund founder relinquished all voting rights to the board of directors on September 30.Dalio, who founded Bridgewater in 1975, is considered a mogul hedge fund giant, and within 10 years of its founding, the firm received a $5 million investment from the World Bank, according to the
Schatzker’s report quotes Bridgewater co-CEO Nir Badea as telling a reporter that “Ray no longer has the final say.” Dario also spoke about his resignation on Twitter, where hesaid today is a special day for him.” Because I have transitioned my control of Bridgewater to the next generation.” Dario added,
I feel great about the people and the “machine” now in control. This moment of transition is the culmination of a 47-year journey.
Dalio is also known for his criticism of Bitcoin (BTC) and blockchain technology. The hedge fund mogul has explained many times that he believes governments will eventually outlaw cryptocurrencies.
“I think at the end of the day if it’s really successful, they will kill it and they will try to kill it,” Dariosaid, saidtwo months before Bitcoin (BTC)reached $69K per unit.” I think they will kill it because they have a way to kill it,” he added.
Last February, Dario noted that he had a “small percentage” of crypto in his portfolio because he wanted to “diversify.” But he further emphasized: he wanted to “diversify. But he further emphasized: “It will probably be outlawed by different governments.” As far as Bridgewater is concerned, Darioexplained that Mark Bertolini and Neil Bardea, co-CEOs of the hedge fund, will be in charge of senior management
“Hopefully until I die, I will continue to be a leader, investor, and board member of Bridgewater. Because me and them like to do those things together,” Darioconcluded in his remarks Tuesday,
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