Ray Dalio is an American billionaire investor and hedge fund manager, best known as the founder and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund. Born on August 8, 1949, Dalio began investing at age 12 and founded Bridgewater Associates in 1975 from his two-bedroom apartment in New York City. The firm initially provided risk management advice to corporate clients before evolving into a global macro investment firm managing assets for institutional investors such as pension funds, endowments, and sovereign wealth funds. Dalio’s approach to investing is characterized by principles of radical transparency, meritocracy, and systematic decision-making, which he detailed in his bestselling book Principles: Life & Work. He is credited with pioneering investment strategies such as risk parity and portable alpha, and his firm’s flagship fund, Pure Alpha, became renowned for strong risk-adjusted returns. Bridgewater Associates grew rapidly after securing major clients like McDonald’s, the World Bank, and Eastman Kodak, and became the world’s largest hedge fund by 2005. Dalio gained wider recognition for predicting the 2008 financial crisis and profiting from strategic short positions during the market downturn. He has authored several influential books, including Principles for Navigating Big Debt Crises and Principles for Dealing with the Changing World Order. In 2025, he published How Countries Go Broke: The Big Cycle, which became a New York Times bestseller. Dalio remains a prominent voice on economic cycles, global macro trends, and the rise of China. He is also known for his philanthropy, particularly in oceanographic research and conservation, and is a participant in The Giving Pledge. Dalio continues to influence both the investment world and broader public discourse through his writings, principles, and ongoing advisory roles.