Ray Dalio

At an event in Saudi Arabia, Dalio praised Mohammed bin Salman as a 'great leader' and compared his plan to transform the kingdom with those of Deng Xiaoping and Lee Kuan Yew. The remarks prompted criticism given Saudi Arabia's human rights record.

State of the evidence

Documented

Attribution

Personally implicated

Asked about human rights and the disappearances of officials in China, Dalio compared Beijing's behaviour to that of a 'strict parent', prompting strong criticism of his closeness to China as Bridgewater expanded its operations there.

State of the evidence

Documented

Attribution

Personally implicated

Bridgewater sued former employees alleging theft of trade secrets. An arbitration panel rejected the claims and, according to the published ruling, found that Bridgewater had pursued certain theories recklessly, fabricated false evidence and acted in bad faith.

State of the evidence

Documented

Bridgewater experienced a very difficult 2020, with approximately $12.1 billion in reported losses for clients, fuelling criticism of its macroeconomic model and systems' ability to manage an unprecedented shock.

State of the evidence

Documented

Charges filed with the National Labor Relations Board challenged certain Bridgewater rules and practices, including allegations of coercive rules, statements or surveillance that could impede employees' rights.

State of the evidence

Documented

Press reports described a power struggle between Ray Dalio and Greg Jensen, then considered a possible successor at Bridgewater, with executives and partners asked to vote on their character and conduct. The episode exposed tensions created by succession and the radical internal rating system.

State of the evidence

Reported by the press

Attribution

Direct responsibility

Bridgewater attracted considerable attention for its 'radical transparency' culture: recorded meetings, continuous assessments, colleague-rating applications and systematic confrontation of mistakes. Critics described it as intrusive and intimidating, while approximately a quarter of new recruits reportedly left the firm within their first few months.

State of the evidence

Documented

Attribution

Directly implicated

A former Bridgewater employee filed a complaint alleging sexual harassment by a superior and describing a culture of fear linked to internal practices and confidentiality agreements. The case intensified scrutiny of the culture created by Dalio.