Career Timeline of Ray Dalio: Major Achievements and Milestones

How Ray Dalio built a successful career. Explore key moments that defined the journey.

Ray Dalio is a billionaire hedge fund manager and the co-chief investment officer of Bridgewater Associates, the world's largest hedge fund. He founded Bridgewater in 1975 and has been a prominent figure in the finance world since. Known for his principles of "radical truth" and "radical transparency," Dalio emphasizes data-driven decision-making and a culture of open communication within organizations. He is also an author, having written books like "Principles: Life and Work" which outlines his management and investment philosophies.

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Full Timeline Career & Achievements

1973: Received MBA from Harvard Business School

In 1973, Ray Dalio received an MBA from Harvard Business School.

1974: Fired from Shearson Hayden Stone

In 1974, Ray Dalio was fired from Shearson Hayden Stone, a securities firm, after punching his boss while drunk at a New Year's Eve party.

1975: Founded Bridgewater Associates

In 1975, Ray Dalio founded Bridgewater Associates as a wealth advisory firm, advising on currencies and interest rates.

1981: Opened Westport Office

In 1981, Bridgewater opened an office in Westport, Connecticut.

1985: CIO of Bridgewater Associates

In 1985, Ray Dalio became the co-chief investment officer of Bridgewater Associates, the world's largest hedge fund.

1987: Profited from the Stock Market Crash

In 1987, Ray Dalio became well known after Bridgewater turned a profit from the 1987 stock market crash.

1991: Start of Consistent Performance

From 1991 to 2005, Bridgewater only lost money in three calendar years, and never more than 4%.

1991: Launched Pure Alpha Strategy

In 1991, Ray Dalio launched Bridgewater's flagship strategy, "Pure Alpha".

1996: Launched All Weather Fund

In 1996, Ray Dalio launched All Weather, a fund that pioneered a steady, low-risk strategy that later became known as risk parity.

2002: S&P 500 Performance

From 1991 to 2005, the S&P 500 also had three down years, including a negative return of 22.1% in 2002.

2005: Bridgewater Becomes Largest Hedge Fund

In 2005, Bridgewater Associates became the world's largest hedge fund.

2007: Predicted 2008 Financial Crisis

In 2007, Bridgewater predicted the 2008 financial crisis.

2007: Warning of Excessive Financial Leverage

In the spring of 2007, Bridgewater began warning about the dangers of excessive financial leverage, alerting clients and subscribers to its Daily Observations.

2008: Pure Alpha Fund Rose in Value

In 2008, Bridgewater's Pure Alpha fund rose in value by 9.5% after accounting for fees, despite it being a disastrous year for many rivals.

2008: Published 'How the Economic Machine Works'

In 2008, Ray Dalio published "How the Economic Machine Works: A Template for Understanding What is Happening Now", an essay assessing the potential of various economies.

February 2009: Dalio Introduced "d-process" Term

In February 2009, Ray Dalio began using the term "d-process" to describe the deleveraging and deflationary process of the subprime mortgage industry, later incorporating it into his investment philosophy.

2009: Pure Alpha Fund's Modest Earnings

In 2009, Bridgewater's Pure Alpha fund reportedly earned just 2% to 4%, when economic growth was higher than expected and the Dow Jones Industrial Average increased by 19%.

April 2011: Joining the Giving Pledge

In April 2011, Ray Dalio and his wife joined the Giving Pledge, vowing to donate more than half of his fortune to charitable causes within his lifetime.

2011: Self-Published 'Principles'

In 2011, Ray Dalio self-published "Principles", a 123-page volume outlining his investment and corporate management philosophy.

February 2012: TRS Purchased Stake in Bridgewater

In February 2012, the Teacher Retirement System of Texas (TRS) purchased a $250 million non-voting stake in Bridgewater Associates Intermediate Holdings, LP.

2013: Bridgewater Becomes Largest Hedge Fund

In 2013, Bridgewater Associates was listed as the largest hedge fund in the world.

2014: Reported earnings of $1.1 billion

In 2014, Ray Dalio reportedly earned $1.1 billion, including shares of his firm's management and performance fees, cash compensation, and stock and option awards.

2015: Forbes estimated net worth at $15.4 billion

In 2015, Forbes estimated Ray Dalio's net worth at $15.4 billion, making him the second-wealthiest hedge fund manager after George Soros.

March 2017: Dalio to Step Down as Co-CEO

In March 2017, Ray Dalio announced he would step down as co-CEO of Bridgewater Associates by April 15, as part of a company-wide shakeup. Jon Rubinstein was also to step down as co-CEO, while retaining an advisory role.

2017: Bridgewater's Assets Under Management

As of 2017, Bridgewater Associates had $160 billion in assets under management.

2017: Authored 'Principles: Life & Work'

In 2017, Ray Dalio authored the book "Principles: Life & Work", which focuses on corporate management and investment philosophy. The book appeared on The New York Times bestseller list.

Principles: Life and Work

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2017: Principles: Life & Work Bestseller

In 2017, Ray Dalio's book, Principles: Life & Work, became a New York Times Bestseller.

Principles: Life and Work

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2018: OceanX and Bloomberg Philanthropies Commitment

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

2018: Estimated compensation of $2 billion

In 2018, Ray Dalio was estimated to have personally received $2 billion in compensation for the year, after his fund posted a 14.6% return.

2018: Publication of Principles for Navigating Big Debt Crises

Ray Dalio published Principles for Navigating Big Debt Crises in 2018.

Principles for Navigating Big Debt Crises

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March 2019: Named one of the highest-earning hedge fund managers

In March 2019, Forbes recognized Ray Dalio as one of the highest-earning hedge fund managers and traders.

April 7, 2019: Discussed Income Inequality on 60 Minutes

On April 7, 2019, Ray Dalio stated on 60 Minutes that income inequality in the United States was a national emergency requiring reform.

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July 2019: Called for Refinement of Capitalism

In July 2019, Ray Dalio again called for the refinement of capitalism and called wealth inequality a national emergency.

November 2019: Blog Entry on Paradigm Shift

In November 2019, Ray Dalio posted a blog entry stating that excess capital, unfunded social liabilities, and government deficits had created a recipe for disaster in what he called a "paradigm shift".

2019: $100 million pledged to Connecticut public schools

In 2019, Ray Dalio pledged $100 million to Connecticut public schools.

2019: Publication of Principles for Success

In 2019, Ray Dalio published an illustrated version of his bestseller, Principles, called Principles for Success.

Principles for Success

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February 2020: Dalio Foundation donation to China

In February 2020, the Dalio Foundation donated $10 million to support China's coronavirus recovery efforts in response to the COVID-19 pandemic.

March 2020: Dalio Foundation donation to Connecticut

In March 2020, the Dalio Foundation gave $4 million to the state of Connecticut to fund healthcare and nutrition.

May 2020: Stressed Importance of Reforming Capitalism

In May 2020, Ray Dalio stressed the importance of reforming capitalism, not abandoning it, saying: "As the current crisis unfolds, we should remember that throughout history, capitalism has proven to be the best system, though it can sometimes be highly flawed."

October 13, 2020: Launch of the Dalio Center for Health Justice

On October 13, 2020, NYP (NewYork-Presbyterian Hospital) launched the Dalio Center for Health Justice with a gift of $50 million from the Dalio Foundation.

October 2020: China's Rise as Global Superpower

In October 2020, Ray Dalio cautioned people to not be blind to China's rise, arguing that it had continued to emerge as a global superpower, succeeding in "exceptional ways" despite the COVID-19 pandemic.

October 2020: Discussed Income Growth and Inequality

In October 2020, Ray Dalio said that there has been little income growth for average citizens over the preceding two decades, with the bottom 60% of workers having no inflation-adjusted income growth since the 1980s. He mentioned that income inequality was at its highest level since the 1930s.

2021: Production of PrinciplesYou

In 2021, Dalio produced a free online personality assessment called PrinciplesYou.

2021: Publication of Principles for Dealing with the Changing World Order

In 2021, Ray Dalio published Principles for Dealing with the Changing World Order.

Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail

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January 2022: Net worth reported as $15.7 billion by Bloomberg

In January 2022, Bloomberg News reported Ray Dalio's net worth as $15.7 billion, making him the world's 123rd-richest person, according to their rankings.

January 21, 2022: Net worth estimated at $20 billion by Forbes

According to Forbes, as of January 21, 2022, Ray Dalio's net worth was estimated at $20 billion, ranking him 88th on their billionaires list and 36th on the Forbes 400 list.

April 2025: Warned About U.S. Economy

In April 2025, Ray Dalio warned about "something worse than a recession" for the U.S. economy and a "monetary order breakdown" globally. He also criticized the Trump administration's policy on tariffs.