Billionaire Ray Dalio has handed over control of the hedge fund he founded 50 years ago, Bridgewater Associates. According to reports , Dalio sold his last stake in the company and left the board of directors. After that, Bridgewater issued new shares to the sovereign fund of Brunei. As a result of this multibillion-dollar deal, the fund received almost 20% of the company's shares. Libertarian economist Eugene Ronin told to CoinTelegraph we should expect more active use of cryptocurrencies by Bridgewater's new management. In his opinion, such forecasts are meaningless until the company takes concrete actions. The expert emphasized that the company’s decisions should not influence the personal strategies of investors, since the goals of funds and individuals differ. Dalio's departure is the latest step in a long process. He stepped down as CEO in 2017 and resigned as chairman at the end of 2021. Dalio on Leaving He said he was pleased about this transition and shared the principles that have ensured the company’s 50 years of success. Dalio compared the transition to raising a younger generation. According to him, seeing Bridgewater “alive and well” without his involvement is like watching strong and independent children. The financier noted that the company is now run by people who are 25 to 50 years younger than him. Dalio named the choice of people and culture as his main working principles. He advised creating an “ideocracy” where the main goals are meaningful work and relationships built on “radical truth and transparency.” Another principle is to create a culture where it is okay to make mistakes, but it is unacceptable not to learn from them. He formulated this as an equation: Pain + Reflection = Progress. Dalio now plans to focus on other projects, including sharing his principles with others, investing, family, and ocean exploration through his media project OceanXplorers. Dalio's Predictions The investor, famous for his accurate forecast of the 2008 crisis, expects more turmoil ahead. In his opinion, the world will face a global debt crisis in late 2025, and the US economy will suffer a “heart attack” if the government does not reduce the budget deficit. In light of these forecasts, Dalio recommended that investors allocate up to 15% of their portfolios to bitcoin and gold to hedge risks. Previously, he had advised limiting such allocations to 2%. In 2021, Dalio called Bitcoin “a brilliant invention.” He admitted that he owns some cryptocurrency but prefers gold. Some of Dalio’s predictions have proved inaccurate. In 1982, he expected a global economic depression that did not materialize. This misjudgment led to Bridgewater suffering major losses. Dalio later admitted that this assessment almost caused the company’s bankruptcy. Outlook on Bridgewater’s Future With Dalio’s departure, market observers are closely watching how Bridgewater’s strategy might evolve under new leadership. Many anticipate increased experimentation in the firm’s investment approach, potentially including a greater focus on digital assets and technology-driven strategies. As the financial landscape grows more complex, the ability of Bridgewater’s younger management team to adapt will be a key factor in sustaining the firm’s legacy and performance.
