Ray Dalio : ‘I went broke and had to borrow $4,000 from my dad'

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#1
Billionaire Ray Dalio on his big bet that failed: ‘I went broke and had to borrow $4,000 from my dad’

Ray Dalio, Contributor
Published Wed, Dec 4 201911:19 AM EST

Long before I reached success as the founder of Bridgewater Associates, the world’s largest hedge fund today, I faced several failures. But through my struggles, I was able to accumulate hundreds of principles. 

Principles are ways of dealing with reality to get what you want out of life — and they, more than anything else, are responsible for whatever success I’ve had in both my work and personal lives.

In my new book, “Principles for Success,” I share a handful of principles that I live by, but there are three in particular that I believe are especially essential and life-changing:

* Think for yourself while being radically open-minded

* Dreams + Reality + Determination = Successful Life

* Pain + Reflection = Progress

More details in https://www.cnbc.com/2019/12/04/billiona...bills.html
Specuvestor: Asset - Business - Structure.
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#2
Hedge Fund Billionaire Extracts Billions More to Retire

In mid-2018, Bridgewater said it would become a partnership as part of a long-term plan to move away from founder control. In theory, that should have transformed the firm into an entity controlled by its top employees rather than one man.

But Mr. Dalio wasted little time in telling colleagues that he was not interested in a simple passing of the baton, according to current and former employees. He approached dozens of top employees — at the time, Bridgewater had roughly 1,500 full-time staff members — and told them they would have to buy his shares with their own money, some of those employees said.

Mr. Dalio offered to arrange 10-year loans to those who lacked the funds to buy him out, according to two former employees. If they declined, he intimated that they should consider leaving the firm, they said. Still, even as he sold shares to his colleagues, decreasing his ownership, his founder shares kept him in control.

https://www.nytimes.com/2023/02/20/busin...=url-share
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