Ray Dalio, the 75-year-old billionaire founder of Bridgewater Associates, is officially stepping away from the hedge-fund firm he founded in 1975.
Image Credit: Roy Rochlin / Stringer | Getty Images. Ray Dalio.
A letter sent to clients last week revealed that Dalio sold his remaining shares in the firm to Bridgewater, The Wall Street Journal reported. He also gave up his seat on the board but intends to remain “a client and mentor,” he said in the note.
Dalio launched Bridgewater five decades ago out of his two-bedroom apartment