Raymond Thomas Dalio (born August 8, 1949) is an American billionaire investor and hedge fund manager, who has served as co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, since 1985. He founded Bridgewater in 1975 in New York. Within ten years, it was infused with a $5 million investment from the World Bank's retirement fund. Dalio is regarded as one of the greatest innovators in the finance world, having popularized many commonly used practices, such as risk parity, currency overlay, portable alpha and global inflation-indexed bond management.Dalio was born in New York City, and attended C.W. Post College of Long Island University before receiving an MBA from Harvard Business School in 1973. Two years later, in his apartment, Dalio launched Bridgewater. In 2013, it was listed as the largest hedge fund in the world. In 2020 Bloomberg ranked him the world's 79th-wealthiest person. Dalio is the author of the 2017 book Principles: Life & Work, about corporate management and investment philosophy. It was featured on The New York Times best seller list, where it was called a "gospel of radical transparency."