‘Beautiful Thing’
In conversation, Dalio projects an aura of contentment and relays a sense of relief.
Succession means he can devote more time to his philanthropy and to passing on the lessons he’s learned as a lifelong student of the economy. He said he has no plans to sell his minority stake in Bridgewater and looks forward to mentoring the firm’s investors for years to come.
It hasn’t been as easy for Dalio’s cohort on Wall Street to let go. At Blackstone Inc., the world’s largest manager of alternative assets, 75-year-old Steve Schwarzman remains chairman and CEO.
At KKR & Co., Henry Kravis, 78, and George Roberts, 79, are still co-chairman. And at Carlyle Group Inc., co-founder Bill Conway, 73, recently stepped back in as interim CEO when the firm ousted 57-year-old Kewsong Lee.
If Dalio misses being the boss, he’s not letting on.
“It’s the most beautiful thing to see,” he said. “Bridgewater is my extended family, and now my family is well without me. It’s a joy. They’re strong.”
This article was provided by Bloomberg News.