Bridgewater Associates Founder Ray Dalio Steps Down As The Firm’s CIO, Surrenders The Future Of The Firm To The “Younger Generation”

Oct 05,2022
Bridgewater Associates Founder Ray Dalio Steps Down As The Firm’s CIO, Surrenders The Future Of The Firm To The “Younger Generation”
  • Ray Dalio, the founder of Bridgewater Associates, the world's largest financial derivative, has resigned as its CIO, Bloomberg reported.
  • On September 30, Dario handed over all its voting rights to the shareholders' meeting and handed over the future development of the shareholders' meeting to a new generation of leaders.

Ray Dalio, the founder of Bridgewater Associates, one of the world's largest financial derivatives, will resign as the company's chief information officer. In an interview with Bloomberg, Dalio said that he finally handed over the control of Bridgewater Associates to a new generation of young people and the right to vote to the company's shareholders' meeting.

Ray Dario finally let go

According to Bloomberg, Dario has sold the right to vote to the company's shareholders' meeting, and designated the company's future development and $150 billion of assets to "young leaders"

"This is certainly the progress of the event; we will start as soon as we are ready." "I don't want to persevere until I die." Darlemon told Bloomberg.

Bridgewater Associates is called the largest financial derivative, which was founded by Ray Dalio in 1975. The company actively manages $150 billion worth of assets and provides assistance to institutional clients, including pension insurance funds, endowment funds, charitable foundations, foreign governments and central banks.

In a series of comprehensive tweets, Dalio announced the determination of transferring the company's control power to the next generation, and added that without its full support, he could easily imagine that Bridgewaters would perform very well.

Dalio, 73, has been the Chief Information Officer of Bridgewaters since 1985, leading the company to further develop. Dalio can also publish her succession plan through Twitter, and added that he would once again specifically guide Bob Prince and Greg Jensen, the co chief investment officer of Bridgewater Associates. Dalio further announced that he would be a senior investor as a member of the Operating Committee.

Dario said: "It is expected that before my death, I will continue to be a teacher, investor and member of the Board of Supervisors of Bridgewater, because I like to do these things with them.". "The dream came true."

In January this year, the company announced that it had selected Nir Bar Dea and Mark Bertoloni as its CEOs. Later, Greg Johnson and Clarence Prince were appointed CIOs of Bridgewater.

"Bridgewater's overall strength has long been, and will always be, a training bench for investment and consulting talents. The sum of our own co CEOs and co CIOs, Greg Johnson and Clarence Prince, and the professionalism of their project investment processes, need to be greater than anyone else, and they are also well-known. With Bridgewater gradually becoming its latest chapter, we are very honored to be able to write with you Write this article. "After the statement, he added:

When talking about the decision to hand over the company to a new leadership, Dario strictly implemented her proactive views, and added that his succession represented that he could devote more time to public welfare and charity, and that as a lifelong socio-economic student, he had learned a lesson. He later added that he was not interested in selling his shares in Bridgewaters and looked forward to guiding the elite team in the near future.

Photo: Ray Dalio/Twitter