About Ray Dalio
An American billionaire hedge fund manager and philanthropist, Raymond Thomas Dalio is professionally known as Ray Dalio. He has served as co-chief investment officer of the world's largest hedge fund, Bridgewater Associates since 1985 as well as founded Bridgewater in 1975 in New York. Dalio began investing at age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company. He saw it become the largest hedge fund in the world in 2013 before he was named the 79th wealthiest person in the world in 2020 by Bloomberg. His 2017 book "Principles: Life & Work" featured on the New York Times' best-seller list though, in 2012, he was named to the Time 100 list of the most influential people in the world. In 2020 "Bloomberg" ranked him the world's 79th-wealthiest person.
Famous For
- Being an American billionaire hedge fund manager and philanthropist.
- For serving as co-chief investment officer of the world's largest hedge fund, Bridgewater Associates since 1985 as well as founded Bridgewater in 1975 in New York.
Source: @freakonomics
Early Life of Ray Dalio
On 8th August 1949, Ray Dalio took birth with the real name or full name of Raymond Thomas Dalio in New York City, New York, the U.S. He holds an American nationality and American-white ethnicity. He is of Italian descent. Analogously, he is from Christianity religion and his race is white. He happily celebrates his birthday on 8th August of every year and he has celebrated his 71st birthday as of 2020 though as his birthdate, his star sign is Leo. He is the son of a jazz musician, Marino Dallolio (father)(1911-2002), who "played the clarinet and saxophone at Manhattan jazz clubs such as the Copacabana," and Ann (mother), a homemaker. He received a bachelor's degree in finance from Long Island University (C.W. Post College) and an M.B.A. from Harvard Business School in 1973.
Career of Ray Dalio
- Ray Dalio kicks off his career by buying shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company at age 12 though he also worked on the floor of the New York Stock Exchange and traded commodity futures and later worked as the Director of Commodities at Dominick & Dominick LLC as well as became a futures trader and broker at Shearson Hayden Stone in 1974.
- He then founded investment management firm Bridgewater Associates out of his apartment in 1975 as the firm opened an office in Westport, Connecticut in 1981 and became the world's largest hedge fund in 2005. As of October 2017, it had $160 billion in assets under management.
- In 2007, Bridgewater suggested there might be a global financial crisis, and in 2008 Dalio published "How the Economic Machine Works: A Template for Understanding What is Happening Now", an essay assessing the potential of various economies by various criteria.
- As well, he self-published a 123-page volume, "Principles" in 2011 and appeared on the annual Time 100 list of the 100 most influential people in the world in 2012.
- In 2011 and 2012 "Bloomberg Markets" listed him as one of the 50 Most Influential people. "Institutional Investor's Alpha" ranked him No. 2 on their 2012 Rich List.
- Simon & Schuster published "Principles: Life & Work" in 2017 which was a New York Times #1 bestseller and Amazon's #1 business book of 2017 whereas Ray has announced that he will write a second volume, "Principles: Economics & Investing".
- Also, he was co-CEO of Bridgewater for 10 months before announcing in March 2017 that he would step down as part of a company-wide shake-up by 15th April.
- Dalio said on "60 Minutes" that income inequality in the United States was a national emergency requiring reform on 7th April 2019 though he called for a reform of capitalism and described wealth inequality as a national emergency in July 2019.
- Besides, the Dalio Foundation was part of a group of foundations supporting the 2018 launch of TED's Audacious Project, an initiative to fund social entrepreneurs working to solve global issues. In March 2019, Dalio was named one of the highest-earning hedge fund managers and traders by "Forbes".
- Moreover, Ray is going to publish his other book "The Changing World Order: Why Nations Succeed and Fail" in 2021.
Awards and Achievements of Ray Dalio
- Ray Dalio has received the Golden Plate Award of the American Academy of Achievement presented by Carlyle Group co-founder David Rubenstein, during the International Achievement Summit in Washington, D.C in 2012 whereas CNBC also listed "Principles" among the 13 Best Business Books of 2017.
Personal Life of Ray Dalio
Reflecting on Ray Dalio's personal life, he is a married guy. He tied a knot with his wife Barbara, a descendant of sculptor Gertrude Vanderbilt Whitney in 1976/1977 in Greenwich, Connecticut, and is known to practice the Transcendental Meditation technique. The couple has four sons, Devon, Paul, Matthew, and Mark. Devon, their eldest son (26th March 1978 - 17th December 2020), was named after North Devon cattle because Ray was deeply involved in cattle futures at the time. Their second son, Paul Dalio is a film director. Matthew Ace "Matt" Dalio, their third son, is founder and chairman of the China Care Foundation, a non-profit that seeks to help Chinese orphans, and co-founder and CEO of Endless Mobile, Inc., a computer operating system company whereas their youngest son, Mark Dalio, is wildlife filmmaker. Furthermore, talking about his sexual orientation, he is straight.
Source: @dailymail.co.uk
Additionally, he has recently said that his son was killed in a car crash. Devon Dalio, the 42-year-old son of hedge fund founder Ray Dalio, died in a car crash this week, a family spokesperson said Friday. The cause of the crash is still under investigation, Greenwich Police Department Public Information Officer Mark Zuccerella said. The Verizon store was largely destroyed, the newspaper reported. In a tweet, Ray Dalio the billionaire founder of Westport, Connecticut's Bridgewater Associates, known as the world's largest hedge fund said "It is with great pain that I am sharing with you that my 42-year-old son was killed in a car crash yesterday. My family and I are mourning and processing and would prefer to be incommunicado for the time being". "We know that the terrible pain we are feeling has been and continues to be felt by so many others so our sympathies go out to them," he said in a follow-up tweet. "May God be with you and may you cherish your blessings, especially at this time of year."
Source: @westfaironline
Net Worth of Ray Dalio
Moving towards Ray Dalio's net worth, he has a worth of around USD$18.6 billion as of 2020, making him the 69th richest person in the world and 26th on the Forbes 400 list. He has also a handsome amount of salary too which is also in billions of dollars per year as his major source of income is from fund manager as well as from business career. In 2014 he reportedly earned $1.1 billion, including a share of his firm's management and performance fees, cash compensation, and stock and option awards. Dalio earned about $5.5 million every day, Institutional Investor calculated. In 2018, OceanX, an initiative of the Dalio family, and Bloomberg Philanthropies committed $185 million over a period of four years to protect the oceans as Dalio pledged $100 million to help public schools in Connecticut in 2019. He has also sat on New York-Presbyterian Hospital's board of trustees since 2020. On 13th October 2020, NYP launched the Dalio Center for Health Justice, a research and advocacy organization, which will focus on reducing differences in access to quality health care that overwhelmingly affect communities of color.
Body Measurement of Ray Dalio
The height of handsome billionaire Ray Dalio is around 1.76 m whereas his body weight is around 80 kg. He has unarguably accomplished a decent height career-wise. Graceful guy Ray has blonde hair and dark brown eyes color as his body build type is average. Ray has suffered from Barrett's esophagus, a form of gastroesophageal reflux disease (GERD), a pre-malignant condition that if not treated properly can lead to cancer. And, he is fit, fine and healthy as of now.
