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April 12, 2022

Forbes: Dalio still richest in CT, with net worth of $22B

Photo | CNN Ray Dalio is Connecticut's top billionaire, according to Forbes.

Hedge fund founder Ray Dalio has held onto his title as Connecticut’s richest person this year, according to a recent analysis of billionaire wealth by Forbes.

Dalio, with an estimated net worth of $22 billion, came in at No. 71 overall on Forbes’ list of the richest people in the world. He was the wealthiest Connecticut resident on the magazine’s 2021 list as well, when his net worth was estimated at just above $20 billion.

That year’s valuation put Dalio at the top of the Hartford Business Journal’s own list of the wealthiest people in Connecticut, released in June 2021.

Dalio serves as co-chief investment officer and chairman of Bridgewater Associates, often described as the world’s largest hedge fund, which he formed in 1975.

Steve Cohen, another hedge fund manager and now the owner of the New York Mets, is the second-wealthiest person from Connecticut to appear on Forbes’ 2022 list, coming in at No. 96 with an estimated net worth of $17.4 billion.

Elon Musk, the South African-born CEO of Tesla Inc. and founder of aerospace and space transportation company SpaceX, took the title of richest man in the world, according to Forbes’ analysis. Musk’s net worth, which has grown exponentially since 2020, now sits at around $219 billion, the magazine reported.

Amazon founder and executive chairman Jeff Bezos, who had been the world’s wealthiest person for several consecutive years, was bumped down to No. 2 this year, while LVMH Moet-Hennessy-Louis Vuitton CEO Bernard Arnault, Microsoft co-founder Bill Gates and Berkshire Hathaway CEO Warren Buffett rounded out the top five.

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