Original Article Title: "Bridgewater's Ray Dalio 'Officially Retires': Liquidates Remaining Stake, Steps Down from Board"

Original Article Author: Mickey Mao, Doo Qu Doo Trend BlockTempo

Bridgewater Fund founder Ray Dalio sold his final batch of shares on July 31 and resigned from the board, marking the end of the "Dalio Era" in the hedge fund industry that lasted half a century. The asset management company with approximately $92 billion in assets under management has officially entered a new era without the founder's presence.

Ray Dalio's Full Exit Statement

According to Bloomberg's report on July 31, Dalio, who started with $20,000 in 1975, took Bridgewater Fund to the top position as the world's largest hedge fund. In 2017, he stepped down as CEO, handed over day-to-day management in 2022, resigned as co-CEO in April 2025, and completed the equity liquidation at the end of July.

Dalio's retirement statement emphasized: "I have seen Bridgewater thrive in my absence, even better than when I was there." This shows his confidence in the future operation of the company.

Ray Dalio's retirement statement shared on X is translated as follows:

"Over the years, many people have asked me, after founding and building Bridgewater over the past 50 years, what does it feel like to pass the baton now.

My answer is: I feel incredibly excited! It has been an amazing and fascinating journey, and I can remember almost every moment vividly. From founding Bridgewater with a friend I played football with in a two-bedroom apartment, to turning it into one of the world's largest hedge funds, growing the team to about 1,500 people, and creating more profit for our clients than any other hedge fund, until now, July 1, 2025, when I took the final step and handed the company over to the next generation of outstanding talent whom I truly believe can lead the company to continued success in the next 50 years. What a journey! Absolutely joyful!

What excites me the most is that I have seen Bridgewater thrive in my absence, even better than when I was there. Because I consider this as the 'perfect state' in the cycle of life. From the perspective of a 76-year-old who loves Bridgewater and the people I have worked with for decades, this feeling is like seeing my children strong and healthy when I am not around, which is so much better than a 76-year-old parent having to take care of children.

What I see now is a 50-year-old Bridgewater, founded and led by a 26-year-old me at the time, now run by individuals 25 to 50 years younger than me, while the partners who originally built the company with me are still at the core of leadership. In particular, Bob Prince, Greg Jensen, Karen Karniol-Tambour, and Nir Bar Dea, all walking on equally beautiful paths within their own life cycles. I see these dynamic individuals continuing to modernize Bridgewater's way of operating while still benefiting from the efficient principles on which Bridgewater was founded, integrating the new traditions created by the next generation.

And the reason I love all of this is that I can now freely engage in things that excite and matter to me. I particularly love passing on things I find valuable to others, especially the principles that have helped me succeed. I still love the game of investing, enjoy having more time with family and friends, and am very passionate about exploring the ocean and using media to help more people understand this world, much like Jacques Cousteau did in his time (we are currently airing a show called "OceanXplorers" on Disney+, you should check it out).

Because passing on the principles that have helped me is one of the most important goals of this stage of my life, I want to share a few key principles I believe have driven Bridgewater's 50 years of success—if you're interested, I'll also tell you where you can learn more.

Work Principles

The most crucial work principle I believe has driven Bridgewater's success is:

· The "people" and "culture" you choose determine everything.

You must choose people of high character and outstanding capability, build a "principle-first" culture where the pursuit of meaningful work and meaningful relationships is at its core, all of which must be achieved through "radical truth" and "radical transparency."

· Create a culture where making mistakes is acceptable, but not learning from them is absolutely unacceptable.

· Pain + Reflection = Progress.

If you want to understand all of my work principles, they are all captured in my book "Principles: Life and Work."

Investment Principles

Key Investment Principles Behind Bridgewater's Success:

· Reality works like a machine, and you must understand how this machine operates and have a set of well-tested principles to deal with it.

· Understand "cause-effect relationships" because "cause" precedes "effect," and understanding the cause can help you predict what will happen in the future.

· Clearly define your decision criteria, backtest them, systematize them, and use a computer to execute them so that you are acting based on a well-thought-out, validated strategy.

· Recognize: What you don't know is much greater than what you do know.

· Learn how to "diversify risk" because this can reduce risk to the original 20% level without reducing expected returns.

· Find those who are "smart but disagree with you," let them challenge your thinking with rational disagreements, which will significantly increase your decision-making odds and help you learn a lot.

· Ensure that your decisions "will not lead to unacceptable losses."

If you want to delve deeper into my investment and economic principles, this content will be published in my next book, which is also included in the "Dalio Market Principles Online Course" hosted by the Wealth Management Institute of Singapore. And if you want to understand my latest views based on these principles, you can also get them from here."

(End of Statement)

New Ownership Entry, Power Structure Reorganization

Bridgewater Fund's famous "radical transparency" and "ideological dictatorship" culture require that any investment assumption must undergo rigorous debate and data validation.

Before Dalio's departure, gradual efforts were made to depersonalize leadership, with decision-making shared by co-CEOs Nir Bar Dea, David McCormick, and Co-CIOs Bob Prince and Greg Jensen, aimed at avoiding the impact of a single leader's failure. Bob Prince has now become the largest individual partner, ensuring the continuity of the investment philosophy, while the "Bridgewater Senior Researcher Program" collaborates with external experts to bring more perspectives into the strategy.

As Dalio exits his holdings, the Brunei Investment Agency has transformed into a strategic shareholder, securing nearly a fifth of the shares, becoming one of Bridgewater Fund's major institutional shareholders. The entry of international sovereign wealth funds has brought Bridgewater a broader capital and geopolitical network, also signifying more diversified ownership.

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