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Bridgewater’s Dalio invests in submarines for the ultra-rich

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Ray Dalio, the billionaire founder and former boss of hedge fund Bridgewater Associates, has teamed up with Hollywood filmmaker James Cameron to acquire an equity stake in a company that makes submarines for ultra-wealthy clients, according to a report by the Financial Review.

Dalio, who announced recently that he had given up control of the world’s largest hedge fund, having founded the firm back in 1975, is now part-owner of Triton Submarines, a Florida-based company that specialises in submersibles for the super-rich.

Financial details of the deal have not been revealed but Dalio, who already owns four submarines, now owns the business alongside Titantic and Avatar director Cameron and Triton co-founder Patrick Lahey.

Triton produces submarines that carry between one and 66 people and are capable of diving from between 100 meters to full ocean depth. Prices range between $2.5 million and $40 million.

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