Ray Dalio’s Dollars

Ray Dalio is the highest-earning hedge fund manager on the planet.

Institutional Investor estimates that the founder of Westport-based Bridgewater Associates — often called the biggest hedge fund in the world — earned $2 billion last year.

That’s close to double his 2017 take of $1.3 billion — good for only 4th on the hedge fund manager earning list.

Let’s hope he shops locally.

(For the full New York Times story, click here. Hat tip: Gil Ghitelman.)

Ray Dalio, at Bridgewater’s Weston Road office.

34 responses to “Ray Dalio’s Dollars

  1. Rochelle Field

    His salary and earnings are why we need to repair the tax system.

    • Jack Whittle

      Why would his salary and earnings be a reason “why we need to repair the tax system” – do you view the US tax system as a tool for placing a maximum limit on how much a US citizen can earn?

    • Dermot Meuchner

      Exactly. Keep your charitable donations and pay taxes on ALL your earnings and the money you hide offshore. We don’t need his altruism just pay his damn taxes. He is a part of vulture capitalism that is literally destroying the world.

      • David Stalling

        It seems Ray Dalio would agree with you. He does pay all his taxes and hides nothing offshore. In fact, he’s known for his honesty, integrity, ethical conduct and providing full-disclosure of all his actions and dealings. He’s also pretty critical of what’s become of capitalism and has called income inequality “a national emergency requiring reform,” and pushes for long-needed changes to improve fairness, equality and ethics. He’s joined with Warren Buffet and Bill Gates in a vow to donate half of all his income, for life, to charitable causes. He sounds like a nice, decent guy; I don’t think he fits the evil narrative you fabricated and conveyed.

        • Bob Stalling

          Hi Brother,
          I spent most of a day with Ray Dalio and his wife at a 1300 acre tree farm in South Jersey years ago. We were selecting trees for one of their homes here in Connecticut.
          My take from that brief time was that they are very nice, decent, down to earth people, and since that time, everything I have read about them confirms my take…

          • David Stalling

            I sure hope to God he selected a native, indigenous, true-American species such as sugar maple, eastern hemlock or northern red oak and not some exotic, socialist invasive such as Norway maple or — worse — a deciduous angiosperm like Ginko!

            • David Stalling

              Oops. Correction: I meant “gymnosperm” of course!

            • Bob Stalling

              Actually, we were picking out some very large Gleditsia triacanthos due to their high salt tolerance. The house was on an island…
              You are correct about Norway Maples being invasive, and it’s the female Gingko you don’t want.
              Personally, I prefer the Swamp White Oak, but then again, who doesn’t?

  2. Rochelle Rasch

    Can you believe this?

  3. Rozanne Gates

    The point of growing a healthy economy is not to have billions of dollars sitting in one man’s pocket but to have that money sitting in the pockets of millions. As a man who manufactures jeans once said in a documentary film, “I am one man and I can only buy so many pairs of jeans. What I need to be successful is a lot of people buying my jeans. That is why I pay my employees so much money.” When money only circulates from the source of a few, the spring will eventually dry up. Gluttony is not attractive in any form.

  4. Gluttony as well as hypocrisy seems rampant these day in Westport.

  5. Jack Whittle

    Perhaps relevant to note here that Ray Dalio has given over $1.5 billion to Dalio Philanthropies which engages in a wide range of charitable activities, including a $100 million donation for education and entrepreneurial programs to the state of Connecticut a few weeks ago. Before we start taking shots at him for being . . . really successful.

    • Dermot Meuchner

      Don’t take the tax break for “ charitable “ giving. It’s a joke. Pay your taxes like I do.

      • Bob Stalling

        Dermot,
        Can you tell us how much he paid in taxes?
        Thanks.
        On Another note, I have no doubt those tax dollars, particularly in Connecticut, are being managed properly and are being put to good use…

    • Rozanne Gates

      No one bemoans the art of making money. As a country, we need to have policies that empower more people to have access to opportunities to make more and to create a healthy and happy society that works for everyone who lives here. The old adage about giving a man a fishing pole instead of a fish would be a start.

    • The very few true Billionaires I have have had the pleasure of meeting plan to give most of it away! That is selfless and hardly glutinous. After all, they are entitled to have some fun and be a little eccentric…that’s how most of them made there money…taking a risk. By glutinous, I mean the the rude and entitled people who feel they are so much more important than everyone else because they have a little money.

  6. Jeff Arciola

    Love the whining Democrats. I guess your new socialist party if elected will be the answer. I hope you don’t get your way or we are all screwed. Be careful what you wish for.

    • Russell Gontar

      And you’ll be opting out of medicare, I presume.

      • Carmine Picarello

        And while you’re at it, decline one of those other ‘entitlements’: Social Security. Stay away from the cool-aid.

    • David Stalling

      It seems Ray Dalio himself might be one of those whining socialist democrats. He has called income inequality “a national emergency requiring reform” and is pushing for major changes. Let’s hope he doesn’t get his way, or we might all be screwed with unAmerican notions of fairness and equal opportunity!

    • David Stalling

      . . . and best not use any public roads, bridges or other publicly-funded infrastructure . . . Or rely on or support any of our socialist police or fire departments, or military . . . Next thing you know, we’ll all be under Shariah Law!

  7. Carmine Picarello

    I have no problem with how much Mr.Dalio earns and I commend him for his philanthropic deeds. I have a problem with the corrupt politicians who engineered tax loopholes for their wealthy patrons. You don’t need infrastructure of highways, etc. when you can helicopter back and forth to your golf weekends.

  8. Bart Shuldman

    Congrats to Ray Dalio. Not only have you become very successful in the American way, hard work, you donate a good portion to good causes. You just agreed to give $100 million to help educate those in areas of CT that have trouble affording a good education.

    And thank you for keeping your offices in CT and employing high paying jobs. CT needs the income taxes. With so many financial companies moving out of CT it’s great you are staying.

    Bart Shuldman

    • Bob Stalling

      Well said Bart.
      Thank you Ray Dalio.

      • Bart Shuldman

        Bob-billions and billions of dollars are donated by those that became the American Dream to medical and education and vaccine and other causes. I would rather have people like the Dalio’s involved to insure the money is used correctly and efficiently. No state or federal government can do that. Just think, CT has raised income taxes by over 70% since the inauguration of the state income tax and the needy get less every year. And that’s a fact.

        Bart Shuldman

  9. David J. Loffredo

    I wonder if this story was about Bezos or Zuckerberg or Gates or even Bloomberg we’d have these snarky comments….

    Bridgewater has 1700 employees – if they moved to Florida like Tudor and so many of their peers imagine how the local real estate market would react. On the plus side – we’d probably only need one middle school.

    • Bart Shuldman

      David-CT has lost over $2 Billion in adjusted income with people moving out of CT. I hope the Westport progressives learn before it finally destroys the state.

  10. Polly Temple

    My question is what does he contribute to our community? I’ve never heard of anything.

    • William Strittmatter

      What does Ray Dalio contribute to Westport? Interesting question, though a bit provincial I suppose. He, of course, lives in Greenwich, not Westport, so not entirely surprising that doesn’t show up among Westport luminaries. Then again, a lot of folks that live in Westport don’t either.

      But back to your question. Let’s see.

      Bridgewater occupies real estate in Westport so, at a minimum his business directly or indirectly pays property taxes to the town. I know at least some of those employees live in Westport creating demand for houses helping to keep property values stable as well as, of course, paying more property taxes to the town.

      Bridgewater jobs are generally high paying so his employees pay state income taxes to CT most likely well above the amount paid by the average (or median) state income tax payer. Even Ray has chosen to stay in CT for the moment so probably pays more than $100 million in taxes to the state (depending on which other states have also claimed taxes on his income). That may not directly benefit Westport but certainly it does indirectly.

      What else? Hmmm. I would guess some of those employees frequent businesses in Westport helping to keep them in business and maybe even donate to local charities.

      Ray, as noted above, has contributed $100 million to education in Connecticut. I suppose you prefer it to have gone directly to Westport to further increase the educational opportunity gap between Westport and the rest of the state?

      I’d say he has directly and indirectly contributed a lot to Westport. What, exactly, more would you have like to have seen? And at the expense of what other less well off part of the state?

      Should he pay more taxes? Maybe. And maybe we ALL should. Separate question entirely.

    • Bart Shuldman

      Which one of you critics has built a business and hired 100 people? 500 people? 1,000 people? Which one of you critics has created a business that CREATED jobs? Go ahead critics-please respond.

      Just for the record-I have. Hundreds of jobs have been created and hundreds have been created supporting our business.

      So go ahead. Which one of you.

      Bart Shuldman

  11. David Stalling

    Ray Dalio seems like a smart, interesting, complex guy who defies some people’s apparent attempts to ignorantly and simplistically fit him into a partisan narrative.

    As for “giving back” to the community: Dalio joined Bill Gates and Warren Buffett’s “Giving Pledge,” vowing to donate more than half his fortune to charitable causes within his lifetime.

    He’s also pretty critical of what’s become of capitalism and has called income inequality “a national emergency requiring reform.”

    In a report he published less than a month ago, called “Why and How Capitalism Needs to be Reformed,” he wrote:

    “My exposure to most economic systems in most countries over many years taught me that the ability to make money, save it, and put it into capital (i.e., capitalism) is the most effective motivator of people and allocator of resources to raise people’s living standards. Over these many years I have also seen capitalism evolve in a way that it is not working well for the majority of Americans because it’s producing self-reinforcing spirals up for the haves and down for the have-nots. This is creating widening income/wealth/opportunity gaps that pose existential threats to the United States because these gaps are bringing about damaging domestic and international conflicts and weakening America’s condition. I think that most capitalists don’t know how to divide the economic pie well and most socialists don’t know how to grow it well, yet we are now at a juncture in which either a) people of different ideological inclinations will work together to skillfully re-engineer the system so that the pie is both divided and grown well or b) we will have great conflict and some form of revolution that will hurt most everyone and will shrink the pie.”

    • Bart Shuldman

      In a rising economy and all invest in the stock market that goes up 10% in the same basket of funds:

      Someone with $10,000 saved makes $1,000
      Someone with $100,000 saved makes $10,000
      Someone with $1,000,000 saved makes $100,000
      Someone with $10,000,000 saved makes $1,000,000
      Someone with $1,000,000,000 saved makes $100,000,000.

      Law of numbers. Law of success. But nothing ugly or nefarious or anything else other than the economy grew and the market went up and all made the same return.

      Before the next comments-I am sure MARPE and LAMONT are celebrating a better stock market and growing economy. Each sees their workers pension plan earning better returns and in the states situation, climbing out of the deep pension hole.

  12. Dalio just committed $100M via his/wfie’s foundation to improve education in CT. As others note, his business provides jobs and all the related economic benefits of having such a business in Westport and the state of CT. Complaining about someone else having “too much” strikes me as uber unproductive. Be happy for what you have, try to help others (such as Dalio but perhaps on a more modest scale), and live. All billionaires aren’t evil, just like all low income individuals aren’t saints. Judge the individual and not their net worth!

  13. He recently did a Reddit AMA (ask me anything) answering a bunch of questions from people.
    link: https://www.reddit.com/r/IAmA/comments/blv3r8/im_ray_dalio_founder_of_bridgewater_associates_im/