Original Title: "Bridgewater's Dalio 'Officially Retires': Liquidates Last Shares and Resigns from Board"
Original Author: Mickey Mouse, BlockTempo
Bridgewater founder Ray Dalio sold his last batch of shares and resigned from the board on July 31, marking the end of the "Dalio Era" in the hedge fund industry that lasted for half a century. This asset management company, managing approximately $92 billion, officially enters a new phase without its founder.
Dalio's Full Retirement Statement
According to a report by Bloomberg on July 31, Dalio started Bridgewater in 1975 with $20,000, leading it to become the world's largest hedge fund. He stepped down as CEO in 2017, handed over daily management in 2022, resigned as co-CEO in April 2025, and completed his exit from equity at the end of July.
Dalio's retirement statement emphasized: "I see Bridgewater thriving without my involvement, even better than when I was there," showing his confidence in the company's future operations.
Dalio shared his retirement thoughts on X, translated as follows:
"Over the years, many people have asked me what it feels like to hand over Bridgewater after founding and building it over the past 50 years.
My answer is: I feel incredibly excited! It has been an amazing and wonderful journey, and I can almost clearly remember every moment. From starting Bridgewater with a friend I played football with in a two-bedroom apartment, to building it into one of the largest hedge funds in the world, with a team that has grown to about 1,500 people, and creating more profits for our clients than any other hedge fund, until now, on July 1, 2025, I completed the final step of handing this company over to the next generation of outstanding talent that I truly believe can ensure the company's success for the next 50 years. What a journey! I am immensely joyful!
What excites me the most is seeing Bridgewater thriving without my involvement, even better than when I was there. I consider this the 'most perfect state' in the cycle of life. From my perspective as a 76-year-old who loves Bridgewater and the people I have worked with for decades, it feels like seeing my children strong and healthy even when I am not around, which is far better than a 76-year-old parent still having to take care of children.
What I see now is a 50-year-old Bridgewater, founded and led by me at 26, now managed by people 25 to 50 years younger than me, while the partners who originally built the company with me remain in the leadership core. Especially Bob Prince, Greg Jensen, Karen Karniol-Tambour, and Nir Bar Dea, who are also on beautiful trajectories in their own life cycles. I see these vibrant individuals continuing to modernize the way Bridgewater operates while still benefiting from the efficient principles that built Bridgewater, integrating new traditions created by the new generation.
Another 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 what I believe to be valuable, especially the principles that helped me succeed. I still love the game of investing and enjoy having more time to spend with family and friends. Additionally, I am very passionate about exploring the oceans and using media to help more people understand this world, just like Jacques Cousteau did back in the day (we are currently airing a show called 'OceanXplorers' on Disney+, you can check it out).
Because passing on the principles that have helped me is one of my most important goals at this stage of my life, I want to share a few key principles that I believe have driven Bridgewater's 50 years of success—if you're interested, I will also tell you where to learn more.
Work Principles
I believe the most critical work principle driving Bridgewater's success is:
· The 'people' and 'culture' you choose determine everything.
Choose people of noble character and outstanding ability, and build a 'principle-first' culture where the pursuit of meaningful work and meaningful relationships is central, which must be achieved through 'extreme honesty' and 'extreme transparency.'
· Establish a culture where making mistakes is acceptable, but not learning from mistakes is absolutely not allowed.
· Pain + Reflection = Growth.
If you want to understand all my work principles, they are compiled in my book 'Principles: Life and Work.'
Investment Principles
The key investment principles behind Bridgewater's investment success:
· Reality is like a machine; you must understand how this machine works and have a set of proven good principles to deal with it.
· Understand 'causality,' because 'causes' precede 'results'; understanding causes can help you predict what will happen in the future.
· Clearly define your decision criteria, backtest them, systematize them, and use computers to execute them, so you are acting based on a well-thought-out, proven strategy.
· Recognize: you don't know far more than you do know.
· Learn how to 'diversify risk,' as this can reduce risk to 20% of the original without lowering expected returns.
· Find those 'smart people who disagree with you' and let them challenge your thinking with rational disagreements; this will significantly increase your chances of making the right decisions and will teach you a lot.
· Ensure your decisions 'do 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 and is currently included in the 'Dalio Market Principles Online Course' organized by the Wealth Management Institute of Singapore. If you want to learn about my latest views based on these principles, you can also get them from here."
(End of Statement)
New Shareholders Enter, Power Structure Restructured
Bridgewater's famous culture of 'radical transparency' and 'thought dictatorship' requires that any investment hypothesis undergoes rigorous debate and data validation.
Before Dalio's departure, he gradually promoted depersonalized leadership, sharing decision-making power among co-CEOs Nir Bar Dea, David McCormick, and co-Chief Investment Officers Bob Prince and Greg Jensen, aiming to avoid the impact of a single leader's failure. Now, Bob Prince has become the largest individual partner, ensuring the continuity of the investment philosophy, while the 'Bridgewater Senior Researcher Program' collaborates with external experts to inject more perspectives into strategies.
As Dalio liquidated his shares, the Brunei Investment Agency became a strategic shareholder, acquiring nearly 20% equity, making it one of Bridgewater's major institutional shareholders. The entry of this international sovereign fund brings broader capital and geopolitical networks to Bridgewater, also meaning a more diversified equity structure.
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