On Sept. 30, he transferred all of his voting rights to the board of directors and stepped down as one of Bridgewater’s three co-chief investment officers. It’s also a milestone. While some of his peers converted the firms they founded into family offices or closed shop, Dalio was determined to create something that outlasted him.
“Ray no longer has the final word,” co-Chief Executive Officer Nir Bar Dea said in an interview. “That’s a big change.”