Ray Dalio gives up Bridgewater's control as part of succession plan
Dalio has transferred his majority stake to the board but remains a "meaningful" owner of the fund.
Source: dealstreetasia.com
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Dalio has transferred his majority stake to the board but remains a "meaningful" owner of the fund.
Bridgewater billionaire Ray Dalio has relinquished control of his US$150 billion company after running the firm for most of its 47 years.
After 47 years in charge, Ray Dalio gave up control over Bridgewater.
Mr. Dalio, who started Bridgewater Associates out of his two-bedroom apartment in 1975, grew the hedge fund into a $150 billion behemoth.
The billionaire founder of Bridgewater Associates first initiated his transition plan in 2010.