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Borderline Slimy Weasel Newly-Minted Bridgewater Billionaire

Greg Jensen’s hissy fit cost him his co-CEO title, but not much else.
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A couple of years ago, Bridgewater Associates’ top two guys were embroiled in a little spat about who was the bigger liar, quite a serious allegation at a firm that prizes honesty and radical transparency above all else, at leastinternally. Bridgewater founder Ray Dalio suspected that his no. 2, Greg Jensen, may have been saying some nasty things about him behind his back, both dangerous and unnecessary in Westport, the former because everything is on tape and the latter because Dalio loves being told he sucks to his face, preferably in front of an audience. Jensen countered that Dalio was being something less than honest and transparent about his plan to stop micromanaging and let the Greg Jensens of the world have their moment.

Eventually, after much eating of tape, a trial of sorts before the Bridgewater integrity tribunal and Jensen’s transition from co-CEO and co-CIO to just co-CIO, Bridgewater assured us that everything was settled and it had all been blown out of proportion. And do you know what? They might have been telling the truth! For now that Dalio is taking some concrete steps towards succession, it emerges that Jensen has done quite well for himself in the transition, well enough to join the exclusive billionaires’ triumvirate holding an unspecified position in the company’s highly complex new structure.

Greg Jensen, 43, and Bob Prince, 59, have amassed fortunes of at least $1 billion, according to an analysis by the Bloomberg Billionaires Index, largely thanks to the rising value of the world’s largest hedge fund firm, which topped $16 billion at the end of 2017…. The two men each own about 5 percent of the firm. The Texan pension fund said Thursday that its 2.4 percent stake was worth $384 million at the end of 2017, valuing Bridgewater at $16.3 billion. That means Jensen and Prince’s holdings are worth about $800 million each. Combined with their estimated compensation since 2012, their fortunes exceed 10 figures.

As Dalio Steps Back, Two More Bridgewater Billionaires Rise [Bloomberg]


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