Ray Dalio amassed a billion dollar fortune over many decades of successful hedge fund management. The American founded Bridgewater Associates half a century ago and made it the largest hedge fund in the world.
He also stressed the importance of hard love in boosting his thirst for business success.
Dalio said: âEmbrace tough love.
âIn my own life, what I want to give to people, especially the people I love, is the power to face reality to get what they want.
“In pursuit of my goal of empowering them, I will often deny them what they ‘want’.”
He continued, âIt will give them the opportunity to strive so that they can develop the strength to get what they want on their own.
âIt can be emotionally difficult for people, even if they intellectually understand that having difficulty is exercise.
Dalio added, “They have to get strong and just giving them what they want will weaken them and eventually cause them to need more help.”
Dalio’s emphasis on “principles” is a continuation of the theme of his book of the same name.
The book “Principles” was a number one New York Times bestseller.
And Dalio’s principles have served him well throughout a distinguished career, helping him to achieve a net worth of Â£ 11.45 billion, according to the Bloomberg Billionaires Index.
This makes him the 126th richest person on the planet.
Besides mere financial success, Dalio is also revered as a true innovator in the financial field, bringing many practices to the general public, such as currency overlay and risk parity.