Succession Clash Spurs Billionaire Ray Dalio's Push for Hedge Fund Return
Ray Dalio, the founder of Bridgewater Associates, the world's largest hedge fund, is threatening to return to the firm less than a year after retiring. Under the terms of his retirement contract, Dalio has the option to retake control of Bridgewater if its financial performance declines. Instead of running the firm, Dalio has proposed starting a new fund within Bridgewater to improve investment returns. However, some top staff and board members have expressed concerns that Dalio may use the proposed fund as a way to regain control. Bridgewater's main fund has been on a downward slide since Dalio's retirement.