Bridgewater Charts New Direction As Dalio Leaves With Multi-Billion Dollar Payoff

Ray Dalio, the founder of Bridgewater, the world’s largest hedge fund and one of the most influential firms on Wall Street, handed over control of the business he managed for over 50 years in October last year. The billionaire stepped down as Bridgewater’s chief executive officer in 2017 and chairman at the end of 2021 while overseeing the firm’s management transition to a new generation. Dalio founded Bridgewater from his flat in 1975 when he convinced McDonald’s to let him hedge the price of chicken nuggets. The fund manager could offer the fast-food giant a product unavailable elsewhere by combining…