Dalio served in a variety of positions at Bridgewater Associates, including CEO, CIO and chairman, over decades. Ray Dalio, the 75-year-old billionaire founder of Bridgewater Associates, is officially stepping away from the hedge-fund firm he founded in 1975. A letter sent to clients last week revealed that Dalio sold his remaining shares in the firm to Bridgewater, The Wall Street Journal reported. Related: 'The Best Advice That I Could Give Anybody': Billionaire Ray Dalio Credits One Daily Habit With All of His SuccessDalio launched Bridgewater five decades ago out of his two-bedroom apartment in New York City. Related: The Business He Started in Response to a Frustrating Grocery Store Experience Surpassed $1 Billion in Sales and Counts Ray Dalio Among Its InvestorsNir Bar Dea serves as Bridgetwater's current CEO.