Ray Dalio gives up Bridgewater's control as part of succession plan

Ray Dalio gives up Bridgewater's control as part of succession plan

FILE PHOTO: Bridgewater Associates Chairman Ray Dalio attends the China Development Forum in Beijing, China March 23, 2019. REUTERS/Thomas Peter/File Photo

Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, has handed over control of the $150 billion firm to a new generation of investors, the firm said on Tuesday.