Ray Dalio has amassed a billion-dollar fortune through many successful decades of hedge fund management. The American founded Bridgewater Associates half a century ago and grew it into the world’s largest hedge fund.
He also stressed the importance of tough love in order to strengthen one’s hunger for business success.
Dalio said: “Embrace tough love.
“In my own life, what I want to give to people, most importantly to people I love, is the power to deal with reality to get what they want.
“In pursuit of my goal to give them strength, I will often deny them what they ‘want’.”
He continued: “That will give them the opportunity to struggle so that they can develop the strength to get what they want on their own.
“This can be difficult for people emotionally, even if they understand intellectually that having difficulties is the exercise.
Dalio added: “They need to grow strong and just giving them what they want will weaken them and ultimately lead to them needing more help.”
Dalio’s focus on ‘principles’ is a continuation of the theme of his book which goes by the same name.
The book ‘Principles’ was a New York Times number one best seller.
And Dalio’s principles have served him well across a glittering career, helping him to garner a net worth of £11.45billion, according to Bloomberg Billionaires Index.
That makes him the 126th richest person on the planet.
Besides just a financial success, Dalio is also revered as a true innovator of the finance realm, bringing many practices to the mainstream, like currency overlay and risk parity.