In 2017, Ray Dalio wrote a hit autobiography about how he founded and led Bridgewater, the world’s largest hedge fund. The book was enormously successful, but it also fed discontent behind the scenes between Dalio and his employees. Rob Copeland, a financial reporter for the New York Times, digs deep into Dalio’s secrets in our latest Instaread.
You might not be surprised to learn that a hedge fund tycoon has a controversial management style. Perhaps more shocking is Dalio’s extensive dealings with Vladimir Putin, which came under fire by a Bridgewater executive in 2018. Dalio dismissed the executive’s critique, but many other employees agreed that the company shouldn’t be in business with Russia. Dalio managed to navigate the challenging situation successfully, but his image took a big blow — and things would only get worse.