From Fox Business: As Americans dream about what they would do if they won the $540 million Mega Millions jackpot, hedge-fund heavyweight Ray Dalio knows he already banked more than seven times that figure last year alone. According to industry rankings published on Friday by Absolute Return magazine, Dalio took home an incredible $3.9 billion in 2011.
Dalio, 63, founded the secretive Bridgewater Associates, which is the world’s largest hedge fund. The firm’s largest fund, Pure Alpha, generated a healthy 16.05% return last year amid bullish bets that paid off on U.S. Treasurys and bearish ones on the U.S. economy, the magazine reports.
The $3.9 billion income for Dalio brings his two-year income to $7 billion and includes returns on his substantial personal investment in Bridgewater’s funds as well as his chunk of large management fees, Absolute Return reports.
Read more: http://www.foxbusiness.com/business-leaders/2012/03/30/leading-hedge-fund-world-dalio-rakes-in-3-billion-in-2011/
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