Billionaire Ray Dalio mentors rapper Diddy who wants a hard reset
Are Ray Dalio and Diddy strange bedfellows? Not really
Ray Dalio is a billionaire hedge fund manager with a personal net worth of nearly $19 billion, per Forbes and Diddy is a rapper, turned entrepreneur, with a net worth of around $800 million who famously dated J.Lo.
The two may appear to lead different lives and careers, but it turns out they're not as far apart as you might think, thanks to an inside look at an unorthodox mentoring session.
Diddy, whose real name is Sean Combs, reached out to Dalio, the co-founder of Bridgewater Associates, after the two met at a Forbes event.
In a video clip of the session, in which Dalio arrives at Diddy's mansion, the two get right to work amid mutual admiration of each other.
A grateful and candid Diddy, who already studied Dalio's New York Times bestselling book "Principles," asks the financier for a host of leadership tips and opinions including the following:
- How does Dalio define being radically open-minded?
- How does he pick employees who can deliver?
- How can Diddy engineer a hard re-set?
- Money - while key - is not the driving force for people who do the work they love
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Dalio, who tells Diddy "he's got what it takes," summed up the session in a tweet saying, "You will also see why I want to help him and why I believe our relationship exemplifies how people with different backgrounds and different perspectives can work together harmoniously for the greater good."
Mentoring is just one of Dalio's side hustles. He's a philanthropist, recently giving Connecticut the state's biggest gift ever aimed at helping the underserved with education.
He also likes to opine on LinkedIn on various social issues, such as capitalism, money and relationships to name a few. He's also worked with self-help guru Tony Robbins, being interviewed for his personal finance books.
Even so, he's still in the Wall Street game that made him a rich man.
In November, he blasted a report in The Wall Street Journal that stated he made a $1 billion bet against a possible global market downturn.
RAY DALIO SLAMS WSJ REPORT ON A BET AS 'WRONG'
Dalio, in a LinkedIn post covered by FOX Business, said of the article: "It's wrong. I want to make clear that we don’t have any such net bet that the stock market will fall," adding that the firm attempted to convey to the reporter that publishing the piece with that angle "would be misleading, but it was done anyways."