Self-made billionaire Ray Dalio has shared his wisdom on happiness and success, saying that wealth, in fact, does not determine your state of fulfilment.
The Bridgewater Associate founder has a net worth of nearly $22 billion, according to the Bloomberg Billionaire Index, and is among the 400 richest Americans. He and his wife, Barbara Dalio, have pledged to give away much of their wealth to philanthropic causes.
"Money's an important consideration in terms of life, but really, if you even look at happiness, happiness past a certain level is not correlated with wealth," the 77-year-old said on a panel at the Milken Institute Asia Summit in Singapore on Thursday. "The greatest determinant of happiness is a sense of community."
Dalio added: "There's a saying: 'Success isn't determined by how smart you are. It's more determined by how adaptive you are.'"
Dalio founded Bridgewater in 1975, scaling it into one of the world’s largest hedge fund managers, which currently oversees about $102 billion for institutional clients.