Ray Dalio, capitalist critic, tops hedge fund 'rich' list with $2 billion salary
Ray Dalio is back on top of the hedge fund food chain even despite his comments that wealth inequality is a "national emergency."
The Bridgewater Associates founder made a whopping $2 billion last year -- more than any other hedge fund manager, according to the Institutional Investor's annual Rich list.
This is the first time since 2011 that Dalio claimed the No. 1 spot on the list, which ironically came a few weeks after he wrote an op-ed on LinkedIn on why capitalism needs to be reformed.
"I was raised with the belief that having equal opportunity to have basic care, good education, and employment is what is fair and best for our collective well-being," Dalio wrote.
According to Institutional Investor's math, he was pulling roughly $5.5 million per day -- or $228,310 per hour -- last year proving that capitalism is working pretty well for the 70-year-old billionaire.
Dalio's rise to the top of the list was attributed to his Pure Alpha macro strategy, which posted a 14.6 percent gain last year, its best since 2011 -- the last time he topped the list.
Here's the full list of the world's richest hedge fund managers.
1. Ray Dalio
Bridgewater Associates
2019: $2 billion
2018 Rank: 4 ($1.3 billion)
2. James Simons
Renaissance Technologies
2019: $1.5 billion
2018 rank: 1 ($1.7 billion)
3. Kenneth Griffin
Citadel
2019: $870 million
2018 rank: 3 ($1.4 billion)
4. and 5. John Overdeck, David Siegel (tie)
Two Sigma
2019: $820 million
2018 rank: 10 ($570 million)
6. Israel (Izzy) Englander
Millennial Management
2019: $750 million
2018 rank: 5 ($975 million)
7. Crispin Odey
Odey Asset Management
2019: $530 million
2018 rank: did not qualify
8. David Shaw
D.E. Shaw Group
2019: $500 million
2018 rank: 8 ($600 million)
9. Chase Coleman
Tiger Global Management
2019: $465 million
2018 rank 8: ($600 million_
10. Alan Howard
Brevan Howard
2019: $390 million
2018 rank: Did no qualify