Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, announced on Tuesday that he is stepping away from the firm after 47 years, ushering in a long-anticipated corporate succession. Dalio took to Twitter to reminisce on his ascent, from his early days working with two people “helping me in my 2-bedroom apartment to a multi-generation institution [with] 1,300 people.” Bridgewater, known for a controversial culture of “radical transparency,” manages roughly $150 billion in assets. Dalio said he hopes to remain an “a mentor, an investor, and board member at Bridgewater” for the rest of his life.
