Finance

Ray Dalio, the hedge fund manager decrying wealth inequality, made $2 billion last year

Ray Dalio, founder of investment firm Bridgewater Associates, speaking at the WEF in Davos, Switzerland on Jan. 22, 2019.

Adam Galica | CNBC

Ray Dalio, the founder of the biggest hedge fund in the world, was the highest-paid hedge-fund manager in the world last year.

According to Institutional Investor’s annual Rich List, the Bridgewater Associates founder made $2 billion in 2018. That’s up from $1.3 billion in 2017. Dalio earned about $5.5 million every day, Institutional Investor calculated.

Dalio, who is one of the wealthiest people in the world, recently declared the increasing of wealth inequality a national emergency. In an interview with CNBC’s “Squawk Box ” on April 8, he said: “We have to make it a fair game.”

“I was raised with equal opportunity. I went through the public school system and I had parents who took care of me. Then I was able to come in with equal job opportunities,” Dalio added. “A number of things have changed.”

Dalio has also advocated for more investment in early childhood education, infrastructure and improvements to public health to improve capitalism.

Read the full Rich List from Institutional Investor here.

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