One of the most influential figures in modern finance is officially stepping away from the firm he founded and built over a 50 year period, with new leaders set to guide the way forward.

Dalio served in a variety of positions at Bridgewater Associates, including CEO, CIO and chairman, over decades.

Investor Ray Dalio sold his remaining stake in Bridgewater Associates, the hedge fund he founded 50 years ago, according to a letter sent to investors, while Brunei's sovereign fund acquired a minority stake in the firm,