Happy Birthday To Greenwich’s Ray Dalio

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Ray Dalio turns 65 on Friday.
Ray Dalio turns 65 on Friday. Photo Credit: Wikipedia

GREENWICH, Conn. -- Happy birthday to Greenwich’s Ray Dalio!

Dalio, who has owned a home in Greenwich, turns 65 on Friday. The businessman was born Aug. 1, 1949, in Jackson Heights, Queens, N.Y.

He began investing at age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company.

Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures. He later worked as the director of commodities at Dominick & Dominick. In 1974, he became a futures trader and broker at Shearson Hayden Stone.  

In 1975, he founded the Westport-based investment management firm of Bridgewater Associates. In 2012, it became the largest hedge fund in the world, as it is today with about $154 billion in assets under management as of February 2014.

In 2012, he appeared on the annual Time 100 list of the 100 most influential people in the world. In 2011 and 2012, he was listed by Bloomberg Markets as one of the 50 Most Influential people.

Institutional Investor’s Alpha ranked him No. 2 on its 2012 Rich List. 

According to Forbes he is the 31st richest person in America and the 88th richest person in the world with a net worth of $10 billion as of March 2012.

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