Bridgewater Associates founder Ray Dalio has negotiated an exit package worth 'billions' of dollars as part of his decision to retire form the day-to-day running of the business last year, according to a report by the New York Times.

Bridgewater Associates founder Ray Dalio has negotiated an exit package worth 'billions' of dollars as part of his decision to retire form the day-to-day running of the business last year, according to a report by the New York Times.

Dalio, who is already worth around $19 billion, will be topping up his retirement fund with a deal that will see him benefit from regular payments from a special class of stock – informally referred to at Bridgewater as 'Ray's shares' – worth billions.

Dalio gave up control of Bridgewater, to Nir Bar Dea and Mark T Bertolini as co-chief executives, in October, but only after agreeing a package that would see him maintain his seat on the board and secure compensation for 'property rights' relating to the hedge fund that he set up from his Manhattan flat in 1975 and has since grown to manage $150 billion in assets.