Ray Dalio, founder of Bridgewater Associates LP, speaks during the Milken Institute Asia Summit in Singapore, on Wednesday, Sept. 18, 2024. The size of the Federal Reserve’s interest rate cut this week won’t be a game changer for global investors, though risks from China’s slowdown continue to weigh on their minds, according to participants at the regional forum. Photographer: Ore Huiying/Bloomberg via Getty Images
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Ray Dalio, founder of one of the biggest hedge funds Bridgewater, has dumped his remaining shares in the firm and stepped aside from its board.
Bridgewater completed the final sale of Dalio’s equity shares, wrapping up his management transition started in 2022, according to a person familiar with the matter. Dalio will continue to be a significant investor in Bridgewater’s strategies and a mentor, the person said.
The billionaire has been selling his equity for years. To facilitate the final transition of his ownership, Bridgewater raised capital from existing investors and employees. Co-CIOs Bob Prince and Greg Jensen are two significant equity holders, the person said.
“We share our congratulations to Ray – he will always be our cherished founder, is a mentor to many, and remains a longstanding client with significant investments in Bridgewater’s strategies,” Bridgewater CEO Nir Bar Dea and Co-Chair Mike McGavick said in a July 21 letter to clients seen by CNBC. “Ray has always described the transition as a ‘dream come true’ and we’re excited to have made it a reality together.”
The Wall Street Journal first reported Dalio’s stake sale. The founder seemingly confirmed the transition in a LinkedIn post.
Dalio, who founded Bridgewater in 1975, has focused on macro strategies, such as trading currency and fixed income markets based on economic trends. Dalio stepped down as Bridgewater’s chief executive officer in 2017 and chairman at the end of 2021.
“I have been asked a lot about how I feel about passing along Bridgewater after having started and built it over the last 50 years,” Dalio said in the LinkedIn post. “I am thrilled about it because I love seeing Bridgewater alive and well without me — even better than alive and well with me.”
Bridgewater enjoyed solid gains in the first half of 2025, with its Pure Alpha fund up 17% and its All Weather fund rising 8%, the person said.