1/9/2020 Ray Dalio - Wikipedia

Ray Dalio
Raymond Thomas Dalio (born August 8, 1949) is an American
billionaire hedge fund manager and philanthropist who has served Ray Dalio
as co-chief investment officer of Bridgewater Associates since 1985.
He founded Bridgewater in 1975 in New York. Within ten years, it
was infused with a US$5 million investment from the World Bank's
retirement fund.[3]

Dalio was born in New York City, and attended C.W. Post College of
Long Island University before receiving an M.B.A. from Harvard
Business School in 1973. Two years later, in his apartment, Dalio
launched Bridgewater. In 2013, it was listed as the largest hedge Born Raymond Thomas
fund in the world.[4][5] In 2020 Bloomberg ranked him the world's Dalio
79th-wealthiest person.[6] August 8, 1949[1]
New York City, New
Dalio is the author of the 2017 book Principles: Life & Work, about
York, U.S.
corporate management and investment philosophy. It was featured
on The New York Times best seller list, where it was called a "gospel Nationality American
of radical transparency."[7][8] Education Long Island University
Harvard Business
School
Contents Occupation Hedge fund manager

Early life and education Known for Founder of

Bridgewater
Investment career
Associates
Portfolio
Net worth US$18.7 billion
Personal life
(February 2020)[2]
Wealth
Spouse(s) Barbara Dalio
Philanthropy
Children 4 sons, including Paul
Published works
Dalio
Awards and honors
See also
References
External links

Early life and education

Dalio was born in the Jackson Heights neighborhood of New York City's Queens borough.[9] He is the
son of a jazz musician, Marino Dallolio (1911–2002), who "played the clarinet and saxophone at
Manhattan jazz clubs such as the Copacabana," and Ann, a homemaker.[9][10][11] He is of Italian descent.

https://en.wikipedia.org/wiki/Ray_Dalio 1/8
1/9/2020 Ray Dalio - Wikipedia

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.[12] 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.[12][13]

Investment career
After completing his education, Dalio worked on the floor of the New York Stock Exchange and traded
commodity futures.[12] He later worked as the Director of Commodities at Dominick & Dominick
LLC.[14] In 1974 he became a futures trader and broker at Shearson Hayden Stone.[12] In 1975 he
founded investment management firm Bridgewater Associates out of his apartment.[15] The firm opened
an office in Westport, Connecticut in 1981 and became the world's largest hedge fund in 2005.[15] As of
October 2017 it had $160 billion in assets under management.[16] In 2007, Bridgewater suggested there
might be a global financial crisis,[17] 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.[18]

In 2011, he self-published a 123-page volume, "Principles", that outlines his philosophy of investment
and corporate management based on a lifetime of observation, analysis and practical application
through his hedge fund.[19][20]

In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world.[21]
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.[22][23]

In 2017, Simon & Schuster published Principles: Life & Work. The book was a New York Times #1
bestseller and Amazon's #1 business book of 2017.[24] Dalio discusses his background as a backdrop for
his takeaways about life and work. He has announced that he will write a second volume, Principles:
Economics & Investing.[25]

Dalio has said that he could continue improving his returns by solidifying recurring lessons into
"principles."[15]

Dalio 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 April 15.[26] The company had been in a seven-year
management and equity transition to find a replacement.[27] Jon Rubinstein, co-CEO of the fund, was
announced to step down with Dalio, but would retain an advisory role.[26] On April 7, 2019, Dalio said on
60 Minutes that income inequality in the United States was a national emergency requiring
reform.[28][29]

In July 2019, Dalio called for a reform of capitalism and described wealth inequality as a national
emergency.[30] In November 2019, Dalio posted a blog entry stating that excess capital, unfunded social
liabilities, and government deficits have created a recipe for disaster, in what he called a "paradigm
shift".[31]

Portfolio

Dalio is a big fan of index funds. 80% of his portfolio is index Funds. In 2020 his larges Index Fund is
'SPDR S&P 500 ETF Trust' with a value of 1.68 Billion dollars.[32]

https://en.wikipedia.org/wiki/Ray_Dalio 2/8
1/9/2020 Ray Dalio - Wikipedia

Personal life
Dalio resides with his wife Barbara, a descendant of sculptor Gertrude Vanderbilt Whitney (married in
1976/77)[9] in Greenwich, Connecticut, and is known to practice the Transcendental Meditation
technique.[12][33][34] They have four sons, Devon, Paul, Matthew, and Mark.[10] Devon, their eldest son
(born March 26, 1978), was named after North Devon cattle because Ray was deeply involved in cattle
futures at the time.[35] Second son Paul Dalio is a film director.[36] 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.[37][38] Their youngest son, Mark Dalio, is a wildlife filmmaker. 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.[39]

Wealth

In 2011, Dalio was the subject of John Cassidy's article "Mastering the Machine" in The New Yorker.[40]

According to American business magazine Forbes, Dalio has an estimated net worth of USD$18.6 billion
as of July 26, 2020, making him the 69th richest person in the world [41] and 26th on the Forbes 400
list.[42] 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.[43]

Philanthropy
In April 2011, Dalio and his wife joined Bill Gates and Warren
Buffett's Giving Pledge, vowing to donate more than half his fortune
to charitable causes within his lifetime.[44] Through the Dalio
Foundation, he has directed millions in donations to the David
Lynch Foundation, which promotes and sponsors research on
Transcendental Meditation.[45] The Dalio Foundation has also
contributed to the National Philanthropic Trust, to polio eradication
projects, and to NewYork–Presbyterian Hospital.[46] The foundation
has also supported the Fund for Teachers, an initiative that supports
professional learning fellowships for teachers.[47]

The Dalio Foundation was part of a group of foundations supporting

the 2018 launch of TED's Audacious Project, an initiative to fund Dalio giving a speech on
philanthropy
social entrepreneurs working to solve global issues.[48] In March
2019, Dalio was named one of the highest-earning hedge fund
managers and traders by Forbes.[49]

In 2018, OceanX, an initiative of the Dalio family, and Bloomberg Philanthropies[50] committed $185
million over a period of four years to protect the oceans.[51]

Published works
How the Economic Machine Works; A Template for Understanding What is Happening Now
(2007)[52]
https://en.wikipedia.org/wiki/Ray_Dalio 3/8
1/9/2020 Ray Dalio - Wikipedia

Principles (2017)[53]
A Template For Understanding Big Debt Crises (2018)[54]
Why and How Capitalism Needs to be Reformed (2019)[55]

Awards and honors

Principles was listed among the 13 Best Business Books of 2017 by CNBC.[56]

See also
Criticism of capitalism
Wealth inequality in the United States

References
1. "Bloomberg Billionaire Index" (https://www.bloomberg.com/billionaires/profiles/raymond-t-dalio/).
Retrieved 18 April 2018.
2. "Forbes profile: Ray Dalio" (https://www.forbes.com/profile/ray-dalio/). Forbes.com. Retrieved
2 September 2019.
3. "The Rise of Dalio Philanthropy: A Case Study of the New Mega-Giving" (https://www.insidephilanthr
opy.com/home/2015/4/2/the-rise-of-dalio-philanthropy-a-case-study-of-the-new-mega.html). Inside
Philanthropy. Retrieved April 22, 2017.
4. "Ray Dalio, Founder of World's Largest Hedge Fund: Weak Economy Makes Second Adolf Hitler
More Likely" (http://www.algemeiner.com/2012/09/23/ray-dalio-founder-of-worlds-largest-hedge-fund-
weak-economy-makes-second-adolf-hitler-more-likely-video/). Algemeiner. Retrieved March 19,
2013.
5. "Ray Dalio" (https://www.bridgewater.com/leadership/ray-dalio/).
6. "Bloomberg Billionaires Index - Ray Dalio" (https://www.bloomberg.com/billionaires/profiles/raymond-
t-dalio/). Bloomberg.com. Retrieved 2020-02-07.
7. Stevenson, Alexandra; Goldstein, Matthew (2017-09-08). "Bridgewater's Ray Dalio Spreads His
Gospel of 'Radical Transparency' " (https://www.nytimes.com/2017/09/08/business/dealbook/bridgew
aters-ray-dalio-spreads-his-gospel-of-radical-transparency.html). The New York Times. ISSN 0362-
4331 (https://www.worldcat.org/issn/0362-4331). Retrieved 2020-04-06.
8. Sorkin, Andrew Ross (2017-09-04). "Bridgewater's Ray Dalio Dives Deeper Into the 'Principles' of
Tough Love" (https://www.nytimes.com/2017/09/04/business/ray-dalio-book-bridgewater.html). The
New York Times. ISSN 0362-4331 (https://www.worldcat.org/issn/0362-4331). Retrieved 2020-04-06.
9. Wright, Robin (September 15, 2008). "Mastering the Machine" (https://www.newyorker.com/magazin
e/2011/07/25/mastering-the-machine). The New Yorker. Retrieved June 8, 2017.
10. "The Palm Beach Post from West Palm Beach, Florida on September 4, 2002 · Page 38" (https://ww
w.newspapers.com/newspage/134668295/). Newspapers.com. September 4, 2002. Retrieved
June 8, 2017.
11. Cometto, Maria Teresa. "Ray Dalio, il libretto rosso dello speculatore che attacca l'Italia" (http://www.
corriere.it/economia/leconomia/17_novembre_01/ray-dalio-libretto-rosso-speculatore-che-attacca-l-it
alia-a3c7fb9e-bef2-11e7-9a2b-0f2b2933b455.shtml?refresh_ce-cp). Corriere della Sera (in Italian).
Retrieved 2018-04-12.

https://en.wikipedia.org/wiki/Ray_Dalio 4/8
1/9/2020 Ray Dalio - Wikipedia

12. "Pursuing Self-Interest in Harmony With the Laws of the Universe and Contributing to Evolution is
Universally Rewarded" (https://nymag.com/news/business/wallstreet/ray-dalio-2011-4/) Kevin Roose,
April 10, 2011, New York Magazine
13. "Bridgewater's Ray Dalio on the 'Principles' of Tough Love - Alumni - Harvard Business School" (http
s://www.alumni.hbs.edu/stories/Pages/story-bulletin.aspx?num=6392). www.alumni.hbs.edu.
Retrieved 2019-01-30.
14. "Radical Transparency" (http://www.leadersmag.com/issues/2010.3_Jul/Shaping%20The%20Future/
Ray-Dalio-Bridgewater-Associates-Interview-Principles.html) 2010, Leaders Magazine. Volume 33,
Number 3
15. "The head of the world's largest hedge fund explains how he learned to invest" (http://www.businessi
nsider.com/bridgewater-founder-ray-dalio-explains-how-he-learned-to-invest-2017-4). Business
Insider. Retrieved April 12, 2017.
16. Goldstein, Matthew (16 October 2016). "Small Endowments May Get to Invest in Bridgewater
Associates" (https://www.nytimes.com/2017/10/16/business/dealbook/bridgewater-associates-endow
ments.html). The New York Times (DealBook). United States. The New York Times Company. p. B5.
Retrieved 12 April 2018.
17. Cassidy, John (July 25, 2011). "Mastering the Machine How Ray Dalio built the world's richest and
strangest hedge fund" (https://www.newyorker.com/reporting/2011/07/25/110725fa_fact_cassidy).
The New Yorker. Retrieved December 18, 2013.
18. How the Economic Machine Works; A Template for Understanding What is Happening Now (http://w
ww.economicprinciples.org/wp-content/uploads/ray_dalio__how_the_economic_machine_works__le
veragings_and_deleveragings.pdf). Ray Dalio, October 31, 2008
19. Ovide, Shira (October 22, 2010). "More on Bridgewater's Ray Dalio, Wall Street's Oddest Duck" (http
s://blogs.wsj.com/deals/2010/10/22/more-on-bridgewaters-ray-dalio-wall-streets-oddest-duck/). The
Wall Street Journal. Retrieved December 4, 2013.
20. Rosenthal, Norman E. (2013). The Gift of Adversity (https://archive.org/details/giftofadversityu0000ro
se). Penguin Group. pp. Chapter 41. Retrieved December 4, 2013. "Dalio Principles."
21. Volcker, Paul (April 18, 2012). "The 100 Most Influential People in the World" (http://www.time.com/ti
me/specials/packages/article/0,28804,2111975_2111976_2112006,00.html). Time. Retrieved
August 15, 2012.
22. Taub, Steven (April 15, 2013). "The Rich List" (http://www.institutionalinvestorsalpha.com/Article/319
0499/The-Rich-List.html). Institutional Investor's Alpha. Retrieved April 16, 2013.
23. Creswell, Julie (15 April 2013). "Hedge Fund Titans' Pay Stretching to 10 Figures" (https://dealbook.n
ytimes.com/2013/04/15/pay-stretching-to-10-figures/). The New York Times (DealBook). United
States. The New York Times Company. p. B1. Retrieved 2 May 2019.
24. "Ray Dalio's Book Has Sold a Million Copies. But Who's Actually Implementing His Ideas?" (https://w
ww.institutionalinvestor.com/article/b184ggn6dd6090/ray-dalio%E2%80%99s-book-has-sold-a-millio
n-copies-but-who%E2%80%99s-actually-implementing-his-ideas). Institutional Investor.
25. https://www.bloomberg.com/news/videos/2018-11-19/ray-dalio-on-career-market-cycles-china-debt-
video
26. Cox, Jeff (2017-03-01). "Bridgewater's Ray Dalio to step down at Co-CEO on April 15" (https://www.c
nbc.com/2017/03/01/bridgewaters-ray-dalio-to-step-down-at-co-ceo-on-april-15.html). Retrieved
2017-06-23.
27. Cox, Jeff (2017-03-01). "Bridgewater's Ray Dalio stepping down from co-CEO role in company
shakeup" (https://www.cnbc.com/2017/03/01/bridgewaters-ray-dalio-to-step-down-at-co-ceo-on-april-
15.html). CNBC. Retrieved 2017-12-28.
28. Mark Niquette (April 7, 2019). "Dalio Says Capitalism's Income Inequality Is National Emergency" (htt
ps://www.bloomberg.com/news/articles/2019-04-07/dalio-says-capitalism-s-income-inequality-is-nati
onal-emergency). Bloomberg.com. Retrieved April 9, 2019.

https://en.wikipedia.org/wiki/Ray_Dalio 5/8
1/9/2020 Ray Dalio - Wikipedia

29. Bill Whitaker (April 7, 2019). "Ray Dalio says wealth inequality is a national emergency; The founder
of the most successful hedge fund in the world says capitalism needs to be reformed and that the
American dream is lost" (https://www.cbsnews.com/news/ray-dalio-capitalism-needs-reform-wealth-i
nequality-is-a-national-emergency-60-minutes). cbsnews.com. Retrieved April 9, 2019.
30. "Ray Dalio says wealth inequality is a national emergency" (https://www.cbsnews.com/news/ray-dali
o-capitalism-needs-reform-wealth-inequality-is-a-national-emergency-60-minutes-2019-07-28/).
www.cbsnews.com. Retrieved 2019-08-07.
31. "Ray Dalio Says the 'World Has Gone Mad' With So Much Free Money" (https://www.bloomberg.co
m/news/articles/2019-11-05/ray-dalio-says-the-world-has-gone-mad-with-so-much-free-money).
Bloomberg. Retrieved 2019-11-05.
32. "Ray Dalio Portfolio / Bridgewater Associates Holdings" (https://cheaperthanguru.com/portfolio/ray-d
alio?order=value). cheaperthanguru.com. Retrieved 2020-09-01. no-break space character in
|title= at position 22 (help)
33. Opalesque (January 8, 2008). "Ray Dalio's winning strategy" (http://www.opalesque.com/fullarticle/41
340/ray%20dalio/main_reason_reason470.html).
34. Comstock, Courtney (October 25, 2010). "Ray Dalio Is Too Modest To Admit He Returned 38% YTD
Using Transcendental Meditation" (http://www.businessinsider.com/ray-dalio-transcendental-meditati
on-david-lynch-2010-10). Business Insider.
35. Ray Dalio, Principles, Simon & Schuster, 2017, pp.24-25.
36. Finance (March 19, 2012). "Ray Dalio's Son Is An Entertainment Producer, And He's Directing A
Movie About Maniac Depressives With Spike Lee's Support" (http://www.businessinsider.com/ray-dal
ios-son-is-an-entertainment-producer-and-hes-directing-a-movie-about-maniac-depressives-with-spi
ke-lees-support-2012-3). Business Insider. Retrieved June 2, 2017.
37. "Top 10 Hedge Fund Guru's children: The Privileged Lives of Hedge Fund Heirs" (https://thealphaban
ker.com/2014/06/25/top-10-hedge-fund-gurus-children-the-privileged-lives-of-hedge-fund-heirs/).
Alpha Banker. June 25, 2014. Retrieved June 8, 2017.
38. "About Us | Endless Computers" (https://endlessos.com/about-us/). Endlessos.com. Retrieved
2017-10-19.
39. "Ray Dalio Says He's Not Sick, Just Triangulating" (https://www.bloomberg.com/news/articles/2019-0
9-13/ray-dalio-says-he-s-not-sick-after-tweet-prompted-speculation). Bloomberg. September 14,
2019. Retrieved April 17, 2020.
40. Cassidy, John (July 25, 2011). "Mastering the Machine: How Ray Dalio built the world's richest and
strangest hedge fund". The New Yorker Magazine: 56–65.
41. https://www.forbes.com/profile/ray-dalio/?list=rtb#4afc776f663a Retrieved July 26, 2020 Sunday
42. "Ray Dalio" (https://www.forbes.com/profile/ray-dalio/). Forbes. Retrieved 2019-01-30.
43. H. Kent Baker; Greg Filbeck (26 July 2017). Hedge Funds: Structure, Strategies, and Performance
(https://books.google.com/books?id=qYwtDwAAQBAJ&pg=PT52). Oxford University Press. pp. 52–.
ISBN 978-0-19-060739-5.
44. "Bridgewater's Dalio Joins Giving Pledge - NY Times" (https://dealbook.nytimes.com/2011/04/28/brid
gewaters-dalio-joins-giving-pledge). The New York Times. April 28, 2011. Retrieved April 29, 2015.
45. "Hedge Fund Billionaire Ray Dalio Gives Big for David Lynch" (http://www.institutionalinvestor.com/ar
ticle/3556672/asset-management-hedge-funds-and-alternatives/hedge-fund-billionaire-ray-dalio-give
s-big-for-david-lynch.html). www.institutionalinvestor.com. Retrieved 2017-08-23.
46. Vardi, Nathan. "Hedge Fund Billionaire Ray Dalio Steps Up Foundation Giving" (https://www.forbes.c
om/sites/nathanvardi/2015/03/30/hedge-fund-billionaire-ray-dalio-steps-up-foundation-giving/#717e0f
415d80). Forbes. Retrieved 2018-04-09.
47. "9 Stamford Educators Receive Grants For U.S. & Foreign Studies" (https://patch.com/connecticut/st
amford/9-stamford-educators-receive-grants-u-s-foreign-studies). Stamford, CT Patch. 2018-04-09.
Retrieved 2018-04-10.

https://en.wikipedia.org/wiki/Ray_Dalio 6/8
1/9/2020 Ray Dalio - Wikipedia

48. Nicosia, Mareesa. "TED Launches The Audacious Project, Awarding $250M to New Crop of Social
Entrepreneurs" (https://www.barrons.com/articles/ted-launches-the-audacious-project-awarding-250
m-to-new-crop-of-social-entrepreneurs-1522967851). Retrieved 2018-04-10.
49. Vardi, Nathan. "The Highest-Earning Hedge Fund Managers And Traders" (https://www.forbes.com/s
ites/nathanvardi/2019/03/20/the-highest-earning-hedge-fund-managers-and-traders/). Forbes.
50. "Michael R. Bloomberg and Ray Dalio's OceanX Announce Over $185 Million for New Partnership to
Increase Ocean Exploration and Protection" (https://www.bloomberg.org/press/releases/michael-r-bl
oomberg-ray-dalios-oceanx-announce-185-million-new-partnership-increase-ocean-exploration-prote
ction/). Bloomberg Philanthropies. Retrieved 2019-05-22.
51. Chaykowski, Kathleen. "Ray Dalio and Michael Bloomberg Commit $185 Million To Protect The
Oceans" (https://www.forbes.com/sites/kathleenchaykowski/2018/10/29/ray-dalio-and-michael-bloom
berg-commit-185-million-to-protect-the-oceans/). Forbes. Retrieved 2019-04-02.
52. Dalio, Ray (January 13, 2018). "A Template for Understanding What's Going On" (https://my.vanderbi
lt.edu/investmentanalysis/files/2011/08/A-Template-for-Understanding-Whats-Going-On-Bridgewater
1.pdf) (PDF).
53. Goldstein, Matthew; Stevenson, Alexandra (8 September 2018). "Bridgewater's Ray Dalio Spreads
His Gospel of 'Radical Transparency' " (https://www.nytimes.com/2017/09/08/business/dealbook/brid
gewaters-ray-dalio-spreads-his-gospel-of-radical-transparency.html). The New York Times
(DealBook). United States. The New York Times Company. p. BU1. Retrieved 8 September 2017.
54. Montag, Ali (2018-09-14). "Billionaire Ray Dalio remembers the moment he saw the financial crisis
coming: 'This is the big one' " (https://www.cnbc.com/2018/09/14/bridgewater-associates-ray-dalio-on
-anniversary-of-financial-crisis.html). CNBC. Retrieved 2018-09-17.
55. Dalio, Ray (April 5, 2019). "Why and How Capitalism Needs to be Reformed" (https://www.linkedin.c
om/pulse/why-how-capitalism-needs-reformed-parts-1-2-ray-dalio/). linkedin.com. Retrieved
November 10, 2019.
56. Clifford, Catherine (2017-12-27). "13 of the best business books of 2017" (https://www.cnbc.com/201
7/12/26/13-of-the-best-business-books-of-2017.html). CNBC. Retrieved 2017-12-28.

External links
Profile (https://www.forbes.com/lists/2007/54/richlist07_Ray-Dalio_POD3.html) at Forbes
Ray Dalio (https://charlierose.com/videos/13482) on Charlie Rose
"Most Influential 50 People in Global Finance" (https://www.bloomberg.com/news/2011-09-07/most-i
nfluential-50-people-in-global-finance-full-list-bloomberg-markets.html) Bloomberg Markets,
September 7, 2011
"Mastering the Machine" (https://www.newyorker.com/reporting/2011/07/25/110725fa_fact_cassidy)
New Yorker, July 25, 2011
"In Punishing Year for Hedge Funds, Biggest One Thrived" (https://dealbook.nytimes.com/2012/01/2
6/in-punishing-year-for-hedge-funds-biggest-one-thrived/?nl=business&emc=dlbka8) The New York
Times, January 26, 2012
"Ray-man running hedge fund in his own image" (https://www.ft.com/intl/cms/s/0/fc294c42-639b-11e
1-b85b-00144feabdc0.html#axzz1oBdh0tO0) Financial Times, March 2, 2012
"Ray Dalio Biography and Interview" (https://www.achievement.org/achiever/ray-dalio/#interview).
www.achievement.org. American Academy of Achievement. October 2012.
"Ray Dalio Quotations" (http://www.quotationcollection.com/author/Ray_Dalio/quotes)
Ray Dalio: How The Economic Machine Works (video) (https://www.youtube.com/watch?v=PHe0bX
AIuk0) on YouTube
Ray Dalio explains his principles (https://www.youtube.com/watch?v=W7wLJwA_ltY) on YouTube
published on Apr 7, 2019 60 Minutes Overtime

https://en.wikipedia.org/wiki/Ray_Dalio 7/8
1/9/2020 Ray Dalio - Wikipedia

Retrieved from "https://en.wikipedia.org/w/index.php?title=Ray_Dalio&oldid=976146889"

This page was last edited on 1 September 2020, at 12:27 (UTC).

Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site,
you agree to the Terms of Use and Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a
non-profit organization.

https://en.wikipedia.org/wiki/Ray_Dalio 8/8