Ray Dalio will remain as co-CIO
Ray Dalio revealed on LinkedIn today that he will step down from managing Bridgewater on April 15.
He founded the firm and has been there for 42 years in amassing an enormous fortune as one of the all-time great hedge fund managers.
Dalio said he will shift his full attention to markets and running the investment portfolio.
"As I love markets, I'm excited about this change and expect to remain a professional investor at Bridgewater until I die or until those running Bridgewater don't want me anymore," Dalio wrote
An interesting tidbit is that former Apple executive and co-CEO Jon Rubinstein will step out of the co-CEO role.
"While over the last ten months Jon has helped build a plan to re-design our core technology platform and has brought in a group of extremely talented executives to build out our technology leadership, we mutually agree that he is not a cultural fit for Bridgewater," Dalio wrote.
Bridgewater is known for an unusual management style including radical transparency