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Ray Dalio diving in the Seychelles in 2024

I’m not an economist. Or a hedge fund manager. Or even good at math. But I am curious enough to have read The Changing World Order by Ray Dalio who, by the way, also happens to be the founder of the world's largest hedge fund firm, Bridgewater Associates that currently has over $120 billion in assets under management. And since being particularly curious about ocean exploration is also a wonderful part of my job writing about yachts, I also know that Mark and Ray Dalio founded a serious ocean exploration initiative— OceanX a few years back. So… I could not imagine a better subject for my latest “Influencer Interview” series than Ray Dalio. As you’ll see, he’s as knowledgeable and passionate about the world’s oceans as he is about other important subjects.

OceanXplorer is the ultimate ocean research vessel.

BS: The mission of OceanX is “to explore the ocean and bring it back to the world.” And OceanX is doing that by “combing science, technology and media to explore and raise awareness for the oceans and create a community engaged with protecting them.” So, the question is: where does your motivation and passion for the OceanX mission come from?

RD: I'm so excited about the ocean and ocean exploration because the ocean is the most important asset the world has—it has the greatest effect on our wellbeing. And it's also the most exciting place to be. The ocean is 72 percent of the world's surface, and the highest point on the surface is equal to the ocean's deepest depth. So, this means that it's more than twice the size of all continents combined.

I grew up near the ocean on Long Island and some of my earliest memories are of the crabs, shells, all of those coastal experiences. And then watching Jacques Cousteau amazed me, and then I learned to dive, and I was lucky enough to have experiences interacting with ocean explorers. It’s been a lifelong journey.

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NEW YORK, NY - JUNE 04: OceanX Media Founder and Creative Director Mark Dalio (L) and OceanX ... [+] Founder Ray Dalio speak onstage during the Launch Of OceanX in New York City. (Photo by Ilya S. Savenok/Getty Images for OceanX)

What I'm hoping to do with OceanX is explore it and then bring it back to people to see it the way Jacques Cousteau did for me. OceanX is an endeavor that I've been doing in one form or another for about 11 years. We’ve done museum exhibitions. We have an ocean exploration that we bring scientists on and is the best platform for both discovery and for conveying discovery in media.

OceanX is doing this with marine biologists from all over the world and sharing their discoveries on regular and social media. OceanX has more than 10 million social media followers, who love following the missions and learning about the ocean. Later this year, we’re excited to release OceanXplorers , a groundbreaking new television series on National Geographic/Disney produced by BBC Studios Natural History Unit and OceanX in association with Earthship Productions for National Geographic. It follows a team of scientific and storytelling pioneers exploring the deepest and most inaccessible depths of our world’s oceans aboard OceanXplorer."

One of OceanX's Triton submarines exploring a reef in Raja Ampat

BS: Can you tell me about the underwater missions you're most proud of or excited by?

RD: We were the first to capture footage of the Giant Squid in its natural setting with The Discovery Channel in 2012, bringing amazing footage of this incredible creature to the world. We have filmed expeditions for BBC’s Blue Planet II and Sir David Attenborough’s award-winning series Great Barrier Reef."

BS: Since some of OceanX’s greatest contributions to the field of marine science include conducting the first-ever submersible dives to the Antarctic seafloor and conducting the most comprehensive survey of North America’s only coral barrier reef system it’s obvious that submarine-operation is integral to OceanX’s mission. Can you also talk about your choice of Triton subs? Apart from any connection to the company you might have, can you tell me why Triton subs are the best choice for the missions you have planned?

OceanXplorer is the ultimate ocean research vessel with serious sub-ops capability.

RD: We use Triton subs for ocean exploration because they are the most reliable and they can be perfectly customized for our scientific and media needs.

And OceanX continues to make a positive difference in the world. Earlier this year, OceanX convened global climate leaders together at COP28 in Dubai to advance ocean health. Experts aboard OceanXplorer this year have also surveyed underwater seamounts and ridges in the Azores to provide data to support the Azorean government’s goal of designating 30% of the region’s waters as Marine Protected Areas. And during a recent mission in the Seychelles (where these photos of Dalio diving were shot) OceanX also created the first-ever comprehensive map of the Aldabra Atoll, the world's second-largest coral atoll.

Stay tuned for more information.

Bill Springer

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A New Ship’s Mission: Let the Deep Sea Be Seen

A giant new vessel, OceanXplorer, seeks to unveil the secrets of the abyss for a global audience.

After years of rebuilding, upgrading and outfitting, OceanXplorer, a former oil rig turned research vessel, is ready for its operational debut. Credit... Andy Mann

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By William J. Broad

  • Published Sept. 17, 2020 Updated Sept. 21, 2020

In 2014, when crude oil was selling for more than $100 a barrel, the cost of a new drill ship for oil exploration could run to $100 million.

So when the price of oil crashed, Ray Dalio , the founder of Bridgewater Associates, an investment firm in Westport, Conn., saw an opening. In 2016, he bought a lightly used oil ship at a very attractive price and transformed it into his dream — a vessel for big science, big technology and big storytelling. Mr. Dalio’s aim is to help Homo sapiens connect more intimately with the ocean, with what he calls “our world’s greatest asset.”

OceanXplorer is now making its operational debut, after years of rebuilding, upgrading and outfitting. So is Mr. Dalio, 71, as a new kind of entrepreneur. He sees his glistening, high-tech ship as a superstar not only of oceanic research but of video production, nature television shows and livestreaming events that will open the abyss to an unusually wide audience.

“It’s going to change things,” in part by inspiring a new generation of ocean explorers, Mr. Dalio said. Schoolchildren in classrooms will be able to guide the ship’s undersea robot through the primal darkness, uncovering riots of life.

“This isn’t a dream,” Mr. Dalio said in a recent interview. “This is it.”

At 286 feet from bow to stern, OceanXplorer is nearly the length of a football field. Side-to-side thrusters can hold it steady in pounding waves. It can house 85 crew members and explorers. Its hangar can hold three miniature submarines for taking humans into the sunless depths. It has two undersea robots, one that runs on a tether and one smart enough to roam on its own. At the bow, an automated system watches for whales, scanning the chop to avoid collisions.

ray dalio yacht

The vessel’s gear and agenda draw on a decade of experience that Mr. Dalio gained while traveling the globe with scientists on Alucia , his smaller research ship. Like the new one, it featured mini submarines with bubblelike hulls of clear plastic that give the divers stunning panoramic views.

In 2013, Mr. Dalio was exploring the deep Pacific with scientists from Yale University and the American Museum of Natural History when, in pitch darkness, a camera was flashed. The surrounding creatures proceeded to light up in bioluminescent waves. “It was like a fireworks display,” Mr. Dalio recalled. “Everything was responding. It was unbelievable.”

Vincent Pieribone accompanied Mr. Dalio on that voyage. He is an author of “ Aglow in the Dark : The Revolutionary Science of Biofluorescence” and a neuroscientist at the Yale School of Medicine who uses the chemistry of ocean biofluorescence to study human nerve impulses. Mr. Dalio talked him into serving as vice chairman of OceanX , an undertaking of Dalio Philanthropies to explore the ocean. As the organization’s chief scientist, Dr. Pieribone helped rig the new ship for science investigations and directed much of its exploratory planning .

“I walked on the boat and was literally in tears because of all these things we were able to do,” he said recently. “It’s like something out of a Bond movie.”

Mr. Dalio is one of a growing number of billionaire philanthropists seeking to reinvent themselves as patrons of social progress through science research. According to Forbes , he has an estimated net worth of $16.9 billion, making him one of the world’s richest individuals. His firm, Bridgewater Associates, is regularly described as the world’s largest hedge fund.

Mr. Dalio said his ocean journey had begun while he was growing up on Long Island as the only son of a professional jazz musician — his father — and a stay-at-home mother. On television, he loved watching the sea adventures of Jacques Cousteau , the French oceanographer. Then, in his early 20s, Mr. Dalio learned how to scuba dive and, ever since, has been going deeper.

A turning point came in 2011 as he deepened his relationship with the Woods Hole Oceanographic Institution on Cape Cod in Massachusetts. The complex of shingled houses and brick laboratories is famous for devising Alvin , a submersible that was the first to illuminate the Titanic and to carry scientists down to the hot springs of the global seabed . The dark ecosystems teem with crabs, shrimp and tube worms.

Mr. Dalio was thinking of buying the Alucia when a team of Woods Hole experts used the vessel and an undersea robot to find the shattered remains of Air France Flight 447, which in 2009 had vanished over the South Atlantic with 228 passengers. Other search teams had failed, and Mr. Dalio saw the 2011 success as an indication of the field’s exploratory promise.

“It was a needle in a haystack,” he said of the jetliner hunt. “I was shocked and elated.”

He quickly bought Alucia and, late in 2011, also bought his first bubble sub after doing a test dive in the Bahamas. Almost immediately, the pair of vehicles made a major discovery.

The giant squid — huge and slimy, its tentacles lined with sucker pads, its big eyes unblinking — is a fixture of horror fiction , including Jules Verne’s “20,000 Leagues Under the Sea.” But it had long eluded science. A 1994 book by Richard Ellis, “ Monsters of the Sea ,” called the creature so mysterious that “no one has seen a giant squid feeding — in fact, no one has ever seen a healthy giant squid doing anything at all.”

In the summer of 2012, off Japan, Alucia and its bubble subs hosted a team of scientists who found and filmed one of the beasts. The discovery made a global splash in 2013 on newscasts and documentaries .

Mr. Dalio’s youngest son, Mark, was then an associate producer at National Geographic’s television network. Fascinated by the squid hunt, he persuaded his father to financ e a multimedia venture, Alucia Productions, that would chronicle Alucia’s research. In 2017, the ship appeared in the BBC documentary series “Blue Planet II,” which was credited with producing a surge in applications for the study of marine biology.

By that point, Mr. Dalio had purchased the drill ship and was turning it into a suite of mobile laboratories for deep science and public education. For expert advice, he turned not only to his son, to Woods Hole and to Dr. Pieribone of Yale but to the film director James Cameron. The Hollywood mogul knew a great deal about marine science and technology, having plunged to the ocean’s deepest spot in an undersea craft of his own design that he then donated to Woods Hole.

Among other things, Mr. Cameron suggested banks of lighting that would illuminate not only the sea creatures being studied but the experts examining them. Last year, he told Variety that the giant ship, as a set, would illuminate the passion that drove exploration of the ocean.

“You are going to have adversity and psychological challenges,” he said. “The crew will be disappointed, the explorers will be disappointed. But for every moment there’s a setback or challenge, there’s going to be that moment of discovery. You want to take the audience on that roller coaster journey, because that’s what exploration is all about.”

The ship’s giant hangar is designed to hold not only the compact bubble subs the ship has already been outfitted with but larger undersea craft as well. A few of them, including Mr. Cameron’s, can plunge down nearly seven miles to the ocean’s deepest recesses. Their spherical hulls are typically made not of plastic but of superstrong metals such as titanium that can resist the crushing pressures.

Another innovation on OceanXplorer lets the bubble subs send video signals from their cameras to the surface on beams of light, allowing not only rapid consultations with experts aboard the vessel but the live broadcasting of exploratory findings.

“There’s nothing like OceanXplorer,” said Rob Munier, head of marine facilities and operations at Woods Hole. “It’s geared toward taking the concept of great science and great media to the next level.”

The ship’s inaugural voyage is to be profiled in “Mission OceanX,” a six-part series for National Geographic television. BBC and OceanX Media (previously Alucia Productions) are producing the series, and Mr. Cameron is an executive producer. OceanXplorer, after being reconfigured and outfitted in Europe, is now in sea trials. Filming for the television series is to begin early next year.

Mr. Dalio has long called investigations of the oceans more important than space exploration — doing so, for instance, in his best-selling 2017 book, “ Principles: Life and Work .”

“The return on investment is so much greater,” he said in the interview, referring to ocean exploration.

A riddle of the modern world, Mr. Dalio added, is why understanding and protecting the ocean gets relatively little money, time and effort compared with outer space. “If you think about the excitement and the importance, there’s no comparison.”

William J. Broad is a science journalist and senior writer. He joined The Times in 1983, and has shared two Pulitzer Prizes with his colleagues, as well as an Emmy Award and a DuPont Award. More about William J. Broad

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Damen Completes Rebuild of 87 Metre OceanXplorer

Damen has announced its completion of the cutting-edge research vessel OceanXplorer following an extensive two-year rebuild project.

Previously codenamed Alucia2, OceanXplorer is now touted as the most advanced exploration and research vessel in the world, featuring a state-of-the-art scientific research station and a Hollywood-level media production studio developed in partnership with renowned filmmaker James Cameron.

The 87 metre vessel is the flagship of the OceanX fleet, a non-profit ocean exploration and media company spearheaded by billionaire Ray Dalio and his son Mark Dalio. OceanXplorer builds on the success of OceanX's first research vessel, named Alucia , and will continue its mission to uncover the secrets of the ocean and help protect the marine habitat.

Capable of mapping the depths of the oceans, the supersized explorer features sonar arrays, a series of submersibles, a dedicated ROV deployment bay, a forward helicopter landing deck with adjacent climate-controlled hangar and aft deck launch and side boarding systems for scuba divers. The upper deck also features a 40-ton crane and a 40-ton A-frame for the launch and recovery of all her explorative equipment. 

Tjarco Ekkelkamp, project director for the OceanXplorer project at Damen said: “This has been a challenging project, the result of which we are very proud of. On the one hand, this shows the extensive capabilities of Damen as a group. On the other, this is a vessel that represents a force for good in the world – one that will enhance human involvement, understanding and ultimately conservation of our oceans. With our strong commitment to maritime sustainability, we are delighted to have played our part in the development of OceanXplorer .”

OceanXplorer started life as a former offshore survey ship named Volstad Surveyor before heading to Damen Shiprepair in Rotterdam. The rebuild works were intensive with the addition of an integrated heli hangar in the superstructure, as well as extensions on both sides of the accommodation decks to house new cabins. The work also involved the integration of specialist hydrographic and lavatory systems, media studios, and state-of-the-art-research facilities. The vessel was re-designed both inside and out by Steve Gresham.

Also on board are a number of both piloted and autonomous underwater drones and two manned Triton submersibles, each of which can dive to depths exceeding 1000-metres.

OceanXplorer also boasts a media production studio with filmmaking capabilities developed with director James Cameron, allowing the team to create high-quality films at sea. OceanXplorer features state-of-the-art wet and dry marine research labs for analysing scientific discoveries. 

The explorer is to become the subject of a six-part documentary series entitled Mission: OceanX , co-produced by OceanX and BBC Studios, along with James Cameron for National Geographic.

Speaking about the project, OceanX co-founder, Ray Dalio, said: "The ship OceanXplorer will take ocean explorers to never-before-seen undersea worlds and allow them to beam back what they encounter via social media, digital experiences, and a TV show. It will be mind-blowing."

OceanX founder and creative director, Mark Dalio, added: " OceanXplorer will allow us to pair science and media together like never before and share the excitement and wonder of ocean exploration with a global audience in real time."

Designed to build upon the success of the 55.75 metre  Alucia  (the initiative's production arm was formerly known as Alucia Productions), which appeared in the BBC’s highly popular  Blue Planet II  series,  OceanXplorer  was built by  Freire  and launched in 2010.

Design input has been provided by London-based  Gresham Yacht Design . The studio previously said: “The biggest challenge has been making sure that the vessel satisfies the demands of differing disciplines, from the scientist through to the operators of the submarines, ROVs, helicopters and film production."

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OceanXplorer: On board the billionaire’s research vessel broadcasting from the deep sea

Going live from Tiktok: With two bubble subs and on board laboratories, OceanX wants to bring the wonders of the deep seas to our screens.

A state of the art ship is on a mission to “explore the ocean and bring it back to the world”. How valuable is this deep sea philanthropy?

OceanXplorer stretches the notion of what a ship can be. At 87 metres long, it holds two deep sea submersibles - one for scientists, the other for media - and laboratories lit up like film sets.

The red carpet is rolled out when I visit the vessel in December, during the UN climate summit in Dubai. It’s docked down a guarded arm of the harbour, and has for days been hosting a stream of esteemed guests like Bill Gates and Jordanian royalty.

This is the world’s most advanced media and research vessel, according to OceanX - a nonprofit arm of Dalio Philanthropies, which ‘furthers the diverse philanthropic interests of Dalio family members’. Their wealth flows from Ray Dalio, the 74-year-old American billionaire who founded Bridgewater Associates, the world’s largest hedge fund.

“The combination of the two [science and media] is our secret sauce,” says Mark Dalio, his son and co-CEO of Ocean X, describing the venture’s USP to journalists on another cloudless day in the emirate.

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What is OceanX?

Euronews Green was invited to tour OceanXplorer during the official rest day of COP28 in Dubai, December 2023.

There’s an obvious echo of SpaceX in the name; the US aerospace company founded by Elon Musk with the aim of making humans a “spacefaring civilization.”

Ray Dalio has opted out of the billionaire space race, but there’s a competitive edge to his decision to go in the opposite direction. “Ocean exploration seems to me much more exciting and important than space exploration,” he has told the Financial Times among others. “You’re not going to see any aliens in outer space but you will see aliens underneath.”

Framing the radically mysterious depths of the sea as the final frontier of American exploration won’t sit well with everyone. But if you’ve ever marvelled at a deep sea documentary, the appeal is relatable and the premise true: only 5 per cent of the ocean has been explored and charted by humans, according to the UN body for ocean science.

OceanX’s mission is “to support scientists to explore the ocean and to bring it back to the world through captivating media.”

OceanXplorer, a former Norwegian oil survey ship known as Volstad Surveyor, underwent two years of rebuilding at a Dutch shipyard.

It was founded in 2016 but the Dalios’ marine roots stretch back further. In 2011 Ray bought a research vessel called Alucia and a bubble sub, which the following year was used by a team of scientists to record the first ever footage of the elusive giant squid in its natural habitat.

Mark, who was then working as an associate producer at National Geographic’s television network, pitched his father the idea of a multimedia outfit to chronicle Alucia’s adventures. They had the honour of taking UK national treasure David Attenborough on his first deep sea dive of the Great Barrier Reef in 2015.

Alucia Productions morphed into OceanX Media. And Alucia itself (which marketed for more than €18 million in 2018) was replaced by OceanXplorer - a former Norwegian oil survey ship which underwent extensive renovation after Dalio bought it. OceanX does not say how much its state-of-the-art diesel vessel cost, but one superyacht site values it at around €186 million and puts running costs at a tenth of that per year.

“It’s not a luxury yacht,” OceanX’s co-CEO and Chief Science Officer Vincent Pieribone tells reporters in Dubai. “The fact that our country [the US] doesn't have a ship like this is a national embarrassment.”

‘We're not a tourist attraction’: What are OceanX’s submersibles for?

Safety is paramount; the organisation’s subs are made by Florida company Triton Submarines, using 6.6 inch thick acrylic hulls manufactured by German firm Heinz Fritz.

Our tour starts in OceanXplorer’s sub hanger, face to face with the two bubble subs. These huge globules of plexiglass can carry their small crews 1,000 metres deep.

One is optimised for researchers, with modular equipment including a machine that is “essentially a vacuum cleaner,” sub pilot Colin explains, sucking up samples from the seafloor to be processed in the ship’s onboard labs.

A range of cameras are affixed to the other sub, capable of capturing the smallest marine creatures as well as wide angle shots of the science sub in action. It can also broadcast in real time by sending video signals to the surface on beams of light. A marine biologist dialled into the World Economic Forum in Davos last month from deep below the Seychelles, where OceanXplorer is currently based.

Mark Dalio (R) talks journalists through OceanX's unique approach beside the ROV.

Submersibles (and billionaires) got a bad press last year, with the fatal implosion of OceanGate’s ‘ Titan ’ sub to view the Titanic. “Of course it's put a spotlight on the industry,” says OceanX’s ROV team leader Andrew Craig. “But we operate these as scientific machines as opposed to pleasure vessels… We're not a tourist attraction. We're a genuine scientific research vessel.”

The ROV (remotely operated vehicle) can descend 6,000 metres while tethered to a cable, sampling even more remote spots such as hydrothermal vents and underwater volcanoes.

Pulling all of this tech together on one vessel is what makes OceanXplorer so unique, Mark Dalio tells us, from inside the ship’s mission control room or “nerve centre.” In front of gamer-style chairs, dozens of screens are lit up with real time footage from all its moving parts - more than I can parse as a non-scientist, but it certainly looks the part.

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What do OceanX’s science team do?

OceanXplorer's mission control or 'nerve centre'. There are screens in other vessel rooms too, so crew members stay connected on expeditions.

Whatever is retrieved from the deep is brought up to the dry lab. The equipment is smaller here, but no less exacting. There’s a 3D scanner with submillimetre resolution which can create a digital twin of a fish, for example, storing it in an online database.

Much of this work involves filling in the blanks in our understanding. Not necessarily finding new species - though Science Program Director Mattie Rodrigue says “[that] happens a lot - to us, specifically.” But the team often come across species that haven’t been publicly documented yet, in which case they can record its reference genome - essentially digitising the DNA.

An OceanX researcher handles coral samples; (R) Science Program Director Mattie Rodrigue at work in a dry lab.

They can also take environmental DNA (eDNA) from the water, capturing an animal’s genetic fingerprint through the cells it sheds. With enough information, they can even tell whether a fish is pregnant or stressed - revealing clues about how it is adapting to changing conditions.

“Ground truthing” or “ocean truthing climate models” is how Rodrigue describes their broader work. In the UAE, for example, oceanography relies heavily on satellite data which means that predictions can be wide of the mark. While in town for COP28, OceanX partnered with scientists at New York University Abu Dhabi to investigate the distribution of coral larvae, and the possibilities of breeding heat resistant coral .

“We see the vessel and OceanX as on the frontlines,” says Mark, “gathering all this data to better inform the science community and governments how things are changing.”

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Lights, camera, action: How is OceanX sharing its findings with the world?

Dr Pieribone, a neuroscience professor at the Yale School of Medicine, laments that while there’s a lot of climate science being done, the thousands of academic papers published a year are simply not reaching people.

So how do you cut through? OceanXplorer is the vehicle, “combining functionality with the look of a film set,” Mark says.

Film director James Cameron (of Titanic fame) is another big name in OceanX’s circle - he has long been fascinated with the ocean and the technology needed to plumb its depths. He advised the team on how to rig OceanXplorer up; bioluminescent coloured lights loop around the ceilings, with hangars for running overhead cameras. Lights are embedded in the tables too to illuminate researchers’ reactions, broadcasting the highs and lows of scientific pursuit.

View this post on Instagram A post shared by OceanX (@oceanx)

There’s up to 72 people on the ship when it’s in full swing, and a good number of those work on the media side. OceanX has more than 4 million followers on TikTok , where the team often post fun videos from their expeditions, distilling nuggets of ocean science and ship life for Gen Z.

Other parts of the emotional landscape around OceanX can feel a bit amped up. Is it really the case, in Mark’s words, that they need to “inspire the public to fall in love with oceans”? Or, as Dr Pieribone suggests, that OceanXplorer is the antidote to assaults on climate scientists in the US, helping people see the humanity of experts?

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Should private money be funding ocean research?

At the screening of a new National Geographic series on the helideck, Mark Dalio’s role in making it is described as the fulfilment of a “lifelong dream.”

Does it matter that personal ambition is mixed into OceanX’s purpose? That this most advanced vessel of its kind is primarily in service of the Dalio family’s philanthropic interests?

“For better or worse,” Steven A. Edwards, then a policy analyst at the American Association for the Advancement of Science, wrote a decade ago, “the practice of science in the 21st century is becoming shaped less by national priorities or by peer review groups and more by the particular preferences of individuals with huge amounts of money to give.”

Ray Dalio says that ocean exploration is more exciting and important than space exploration.

In its defence, OceanX is a collaborative enterprise. The transnational nature of ocean travel - OceanXplorer is registered in the Marshall Islands - means that permits have to be secured months in advance, and the outreach with academic institutes and NGOs is carefully tied in.

Most big public ocean organisations, like the Intergovernmental Oceanographic Commission (UNESCO Ocean) have collaborated with OceanX in some capacity. One research organisation in the UK declined to comment on oceanographic funding given its association.

America’s National Oceanic and Atmospheric Administration (NOAA) Ocean Exploration director Jeremy Weirich, however, told Euronews Green that he “absolutely welcomes” the efforts of organisations like OceanX, Schmidt Ocean Institute, Ocean Exploration Trust, and other philanthropic and private operators.

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“For me, it's not a question of "either/or" but a case for "and," meaning we need both the philanthropically supported and the publicly funded maritime operators acquiring valuable data and information about the unknown ocean,” he adds.

“The at-sea exploration community is still relatively small, while the unexplored and poorly known areas of the ocean remain vast. Fortunately, we're already working together to consider ways to coordinate our unique operations and activities better.”

In its latest PR missive from the Seychelles , OceanX stresses its collaboration with local scientists, “helping local researchers deliver major scientific findings about their own climate-sensitive region for the first time in history.”

Netted in the bullet points are a rich catch of record setting achievements, enviable shark sightings, and an exciting new headcount of dugongs .

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See inside a marine science laboratory unlike any other: the OceanXplorer

The retrofitted oil ship debuts this week as a floating marine research center and a media production studio.

In 2016, Ray Dalio, an investment fund manager, bought a ship designed to sturvey the ocean floor to search for oil. Now, as part of his OceanX initiative, the vessel is making its debut as one of the most decked-out venues for advancing our understanding of the deep sea.

Unveiled this week in a new video provided exclusively to National Geographic, the OceanXplorer has been retrofitted over the past four years to double as a cutting-edge research center and a media production studio. The 286-foot-long ship has been modified to house a helicopter landing pad and climate-controlled hangar, a 40-ton crane, three submersibles, onboard DNA sequencing, and other scientific gear. In addition, the ship will have the ability to take high-quality images at unprecedented depths. An underwater modem will allow these images to be livestreamed around the world from thousands of feet under the sea.

“The ship OceanXplorer will take ocean explorers to never-before-seen undersea worlds and allow them to beam back what they encounter via social media, digital experiences, and a TV show,” Dalio says in a news release. “It will be mind-blowing.”

The hope is that the OceanXplorer will bring together scientific experts and talented storytellers to make the case as Dalio puts it, “that ocean exploration is both more important and more exciting than space exploration.”

Fresh from a field test in Norway, the vessel is currently in the Red Sea off the coast of the Arabian Peninsula . There, the crew is preparing for an inaugural mission to study so-called super corals, which have the ability to recover and successfully reproduce after severe stress caused by phenomena such as ocean warming.

In an upcoming National Geographic series, National Geographic Explorer-at-Large James Cameron and filmmakers with BBC Studios will follow the OceanXplorer and its crew around the world as they study different parts of the ocean. “It’s going to enable me, other filmmakers, scientists, explorers, to just get out there and find things that we truly don’t know are there yet,” Orla Doherty, executive producer of BBC Studios, says in a video that was released earlier this year, which was also produced by Dalio’s ocean exploration initiative.

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SuperyachtNews

By SuperyachtNews 06 Jun 2018

Ray Dalio announces OceanX and M/V ‘Alucia2’

New initiative and vessel aim to revolutionise ocean research and media….

Image for article Ray Dalio announces OceanX and M/V ‘Alucia2’

Superyacht owner and philanthropist Ray Dalio, with his son Mark, director James Cameron and a number of other leading scientific partners, announced the launch of OceanX yesterday. This initiative, to further explore the ocean for educational and scientific purposes, will be undertaken by a brand new vessel, 85m M/V Alucia2 . The project aims to follow the huge success of ocean exploration carried out by Dalio’s existing research vessel, 56m M/V Alucia .

In a statement about Alucia2 and OceanX, Dalio illustrated his passion for conservation and understanding more about our oceans. "I believe that ocean exploration is more exciting and important than space exploration [and] we are on a mission to show people that." The Prince Albert II of Monaco Foundation is among the many philanthropic partners of the project.

Alucia2 will be delivered in 2019 and was originally built as a deep-sea diving survey vessel in 2010. According to reports, she will be “the most advanced science and media vessel ever built” and her refit has been designed by Gresham Yacht Design. Features of the vessel include marine research labs, media equipments (and an entire media centre), manned and autonomous deep-sea submersibles, as well as a range of helicopters and drones. James Cameron, known for his filmography and ocean exploration, was consulted throughout the development of the media centre. "With OceanX and Alucia2 , we will reignite global passion for and curiosity about the ocean in our global, digitally-connected age,” said Cameron. In addition to hosting scientists and media teams, OceanX will conduct virtual classes and museum exhibitions for people across the world.

"With OceanX and Alucia2, we will reignite global passion for and curiosity about the ocean in our global, digitally-connected age.”

Ray Dalio is founder of OceanX and the president of Dalio Philanthropies. His son, Mark, is the founder and creative director of OceanX Media, who worked with the BBC team behind the Blue Planet II series. In a conversation with The Superyacht Report last year, Alex Flemming, co-CEO of marine operations for the family office that operates M/V Alucia, revealed the driving force behind Dalio’s entrance into the yacht market. “He is a very intelligent man and he was always fascinated by the scientific community. He was introduced to Woods Hole Oceanographic Institution and he was so fascinated and taken aback by what they do – and what they achieve – that he had the idea to buy a boat.”

Flemming also echoed the importance of Dalio’s focus on ocean – not space – exploration through engaging media content. “We are trying to make it interesting, and fun, so that it makes difference and people actually say, ‘that’s cool’. Not only promoting the project and the idea, but also make people aware of what is going on. 70 per cent of our planet is ocean, and we only know about 15 per cent of it, how does that make sense? We’re spending more money trying to populate the moon than we are in our ocean backyard.” The impact of Dalio on the superyacht industry’s attitude to ocean conservation and scientific research is undeniable. Hopefully, his commitment to these causes will inspire more owners to follow his example. And as M/V Alucia has been at the forefront of many exciting ocean discoveries in recent years, we eagerly await the successes of OceanX and M/V Alucia 2 .

All images courtesy of OceanX

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Ray Dalio Launches OceanXplorer To Study World’s Oceans

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When Ray Dalio was growing up on Long Island, he used to love watching TV documentaries by Jacques Cousteau, the French oceanographer. Now Dalio, 71, and the founder of one of the largest hedge funds in the U.S., is launching OceanXplorer , his own 286-foot research vessel, with three miniature submarines and two underwater robots, to explore the oceans of the world himself.

He also will make some documentaries of his own, starting with a six-part series for National Geographic , produced by the BBC with James Cameron, the director of The Titanic , as executive producer.

Dalio is best known as the head of Bridgewater Associates, in Westport, Connecticut. It is often referred to as the largest hedge fund in the country. Forbes says that Dalio himself is worth $16.9 billion.

Now he’s turning his considerable energies, and some of his fortune, to studying the world’s oceans and the creatures that live in them. The oceans, he says, are “our world’s greatest asset.”

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After traveling around the world on a smaller research ship, and taking the first picture ever of a giant squid, Dalio bought OceanXplorer , a used oil ship, in 2016. It was built by Freire in Spain in 2010, and has a beam of 59 feet, a draft of 22’ 5”, a displacement of 4,398 tons, and room for a crew of 85. It tops out at 16.5 knots.

The ship has spent the past two years at the Damen yard in the Netherlands for a major refit, so it can be used for research, ocean exploration, filming and livestreaming events. Cameron has installed Hollywood-quality movie labs on board, and will use banks of lights underwater to illuminate not only the sea creatures being studied but also the scientists who are studying them.

The chief scientist on board is Vincent Pieribone, a neuroscientist at the Yale School of Medicine. He told The New York Times that OceanXplorer is “like something out of a James Bond movie.”

The ship is now undergoing sea trials in Europe. Filming for the TV series is scheduled to start early next year. Stay tuned. Read more:

https://www.nytimes.com/2020/09/17/science/ocean-exploration-dalio-ship.html

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Why a superyacht is the only mode of travel for intrepid billionaires

By Hope Coke

OCEANXPLORER

In days gone by, plucky explorers would endure the most testing conditions, from sleeping in freezing tents to living off meagre rations. Now, however, wealthy travellers have taken to enjoying adventures in the most lavish surroundings, thanks to the rise of the highly developed superyacht.

According to the Times , recent years have seen a growing demand for 100-metre plus superyachts equipped to traverse even the most inaccessible parts of the world. A new study by Boat International Media reports that 23 privately commissioned yachts measuring at least 100 metres are currently under construction; a rise from 21 last year and 18 in 2018.

By Annabelle Spranklen

article image

This year’s study found that the increased demand is due to an interest in ‘explorer yachts’, which are able to operate in harsh conditions such as those of the South Pacific or Arctic Circle. Equipped with cutting edge technology, they allow their billionaire owners to carry out special expeditions and research.

Boat International Media discovered that the largest yacht under construction right now is the REV Ocean, which, upon its completion in 2022, will be just under 183 metres long – making it the biggest private yacht in the world. Commissioned by Norwegian billionaire businessman Kjell Inge Røkke, who made his fortune with his worldwide fisheries company, the yacht is intended for carrying out environmental research missions. Yet with its three swimming pools and a 35-seat auditorium, there’ll be plenty to do when enjoying leisure time too.

By Danielle Lawler

article image

The new edition of Boat International ’s ‘global order book’, out this week, reveals that 821 yachts of more 24 metres long are currently being built, compared to 807 in 2019. The largest single yacht delivered this year is thought to be the Nord, which was built by the German shipyard Lürssen. It comes complete with an ice-class hull equipped for Arctic waters, two helipads, a hanger to store helicopters in inhospitable climates, a submarine and a remotely operated vehicle (ROV) for exploring the sea bed; plus luxury amenities like a spa, sauna, gym and 25-metre swimming pool.

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The Nord

Another yacht currently under construction is the 87-metre OceanXplorer, designed for billionaire American hedge fund manager Ray Dalio and his youngest son, Mark Dalio, a wildlife filmmaker. The scientific research, media production and exploration vessel is being created as part of the father and son’s OceanX not-for-profit initiative. It will feature a giant A-frame crane on its stern to launch submersible pumps, two submarines designed for manned dives of up to 1,000 metres, and an ROV for filming at depths as great as 6,000 metres.

Boat International Editor Stewart Campbell has credited the pandemic with driving the rising interest in such yachts, having ‘clearly accelerated an established trend; the desire to escape crowds and explore the farthest reaches of the earth’. He went on: ‘We hear of owners now wanting to tackle the Northeast Passage across the top of Russia, not just the Northwest Passage, and it is exciting to see designers and builders in our industry responding with some of the most capable superyachts ever conceived’.

Image may contain: Vehicle, Transportation, Vessel, Watercraft, Boat, Sailboat, Yacht, Outdoors, and Nature

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Are submersible super-yachts the next adventure for billionaire tourists?

A project led by james cameron to promote deep-sea tourism aspires to more than entertaining the ultra-wealthy.

The ‘Nautilus’ submarine from Disney’s 1954 adaptation of the Jules Verne novel, ‘20,000 Leagues Under the Sea.’

Ray Dalio has sometimes been compared to Captain Nemo, the unforgettable fictional character from two Jules Verne novels: 20,000 Leagues Under the Sea (1870) and The Mysterious Island (1875). He was an Indian prince and engineer who roamed the seas at the helm of the Nautilus , a submarine described by Verne as “a masterpiece full of masterpieces.” Nemo has appeared in various film adaptations of Verne’s novels, where he has been portrayed by famous actors like James Mason and Michael Caine. A collector of coral, pearls and Renaissance paintings, the captain was a connoisseur and an outlaw, an anti-establishment rebel and a vigilante of the seas. One day he would rescue shipwrecked sailors and defend hard-working Pacific islanders, and the next he would sink ships without thinking twice.

Any similarities between the fictional Nemo and the real-life Dalio are purely coincidental, of course. Dalio is a New Yorker who grew up in Queens, the same New York City borough that produced Donald Trump. He is not an aristocrat or a scientist, but a very successful money manager who founded in 1975 what is now Bridgewater Associates, a multinational venture capital firm.

Nemo and Dalio are immensely rich philanthropists who abhor ostentation and love the underwater world. In a phrase that Nemo could have uttered, Dalio once said that Elon Musk’s plans for space tourism to the Moon and Mars are “a foolish project that holds little interest.” But traveling to the bottom of the sea is indeed worthwhile. “That is where true wonders and real aliens await us.”

The budding submersible yacht industry

In December 2022, Dalio jumped into the luxury recreational diving business when he invested in Triton , the world’s largest manufacturer of civilian submersibles. Co-founded by Patrick Lahey, the company needed investment partners to make and sell submarines that can take ordinary (but rich) people on luxury cruises to unusual places like the Mariana Trench, the world’s deepest oceanic depression. Lahey found two investors to take the plunge — Ray Dalio and filmmaker James Cameron .

James Cameron poses in front of the Deepsea Challenger, the submarine in which he descended to the deepest point on the planet; July 1, 2013 in Los Angeles.

Cameron, who made a fortune from huge blockbuster movies like Avatar (2009), Titanic (1997) and Terminator (1984), says his investment in Triton was primarily motivated by the scientific objectives of the new business venture. He believes that private fleets of luxury submarines will enable us “to better understand the 80% of the world’s oceans that are still unexplored.”

Triton’s vessels are equipped with highly advanced imaging systems powered by artificial intelligence that store everything they capture in the audiovisual archive of the human race. In a brief interview with The Financial Times , Dalio said, “If you’re just going on a yacht in some fancy place, that’s one thing. If instead you’re on a yacht and you can go down and explore, first of all the trip is going to be better and also it encourages exploration.”

Look but don’t touch

These underwater adventures aren’t for everyone. Triton submersibles start at $2.5 million and range all the way up to more than $40 million. The base models can only dive to depths of a few hundred yards and can accommodate a maximum of 10 people. The top-of-the-line models are submersible super-yachts that can accommodate 66 guests. The most sophisticated Triton vessels can descend all the way to the bottom of the Mariana Trench in the western Pacific Ocean.

Entrepreneur and philanthropist Ray Dalio gives a talk in San Francisco in 2019.

Triton’s website describes its vessels as works of “superlative” engineering intended for “demanding professionals and discerning individuals.” They are built “with the best materials” and equipped with “excellent visibility” due to their “optically perfect” acrylic windows that ensure “a direct and intimate relationship with the depths of the sea.”

Francesca Webster, editor of Super Yacht Times , describes the project as an exciting partnership with “elite collaborators” like Espen Øino, the Monaco-based yacht designer that recently created a futuristic submersible prototype called Project Hercules . Webster called the personal submarine project, “… not just as a toy for the super rich – but a viable tool that can advance human understanding and excitement for the ocean.”

Strange creatures at the bottom of the sea

There are no Johnny-come-latelys in this initiative. Over 30 years ago, James Cameron made The Abyss (1989), a classic science fiction film about a U.S. nuclear submarine’s encounter with an unidentified object in the Cayman Trough. The message was that we are living right next door to unknown worlds in the ocean depths, and that exploring these worlds is the human race’s immediate destiny.

On March 26, 2012, James Cameron proved that he takes his passions very seriously by making a solo descent to 35,787 feet (10,908 meters), give or take a foot, aboard the Deepsea Challenger. It was the first solo dive and only the second crewed dive to reach the deepest point on the planet after oceanographers Jacques Picard and John Walsh made their 1960 descent in the Trieste bathyscaphe.

The first deep-sea wedding aboard a Triton 3300/3 MKII submersible.

Shortly after his historic descent, Cameron gave a speech at the annual meeting of the American Geophysical Union in San Francisco in which he described finding new species of marine worms and sea anemones in the previously unknown New Britain Trench near Papua New Guinea. But the vessel Cameron used over 10 years ago is nothing like the submersible venues that Triton envisions. Back then, Cameron spent nine claustrophobic hours in a tiny cabin measuring just over 35 cubic feet (one cubic meter). “I had to do yoga for six months to become flexible enough to fit in there,” he said.

Oil exploration

Dalio also has some very strong credentials in ocean exploration. In 2016, with a personal fortune of more than $21 billion, the tycoon bought an old oil rig and converted it into a mobile scientific exploration and research center that he named the OceanXplorer. The size of a football stadium and equipped with state-of-the-art technology, the offshore station became the first venture of OceanX, a company that Dalio owns and manages with the youngest of his four sons, Mark.

In his 2017 memoir, Principles: Life and Work , Dalio calls OceanX the crown jewel of his philanthropic work because its mission is to produce knowledge and share it with the world. He also writes that ocean exploration is far more urgent, exciting and necessary than space conquest. In 2018, Mark Dalio persuaded James Cameron to invest in OceanX, which began a partnership that led to the recent investment in Triton.

Patrick Lahey is an engineer and entrepreneur who has been diving since 1975, and says he has contributed to the design of more than 50 manned submersibles. In 2007, Lahey and Steve Jones founded Triton Submarines to build and sell personal submersibles to yacht owners. The company received a boost in 2015 when British scientist and documentary filmmaker David Attenborough rented a Triton vessel to film the second season of the Blue Planet television series on Australia’s Great Barrier Reef.

Monturiol’s shadow

A few years later, Triton, now a thriving business based in Florida that was making five submarines a year, went to the small town of Sant Cugat near Barcelona to start a project inspired by Narcís Monturiol, the 19th-century Spanish inventor and pioneer of underwater navigation. Working closely with Barcelona-based Clúster Nàutic and the Polytechnic University of Catalonia, Triton and its partners are creating submersible prototypes capable of withstanding the low temperatures and high pressures found at the deepest places in the oceans.

Lahey is enjoying the growing popularity of underwater exploration by tourists and is setting his sights next on exploring the Arctic Ocean. He laughs amiably about those who called his idea “inconsistent and ridiculous.” Dalio, Cameron and Lahey feel like the heirs to the dreams and aspirations of those who came before, like Jacques Cousteau and Jules Verne. They will never attack warships with battering rams like Captain Nemo, but they share his thirst for knowledge and adventure, and have added a healthy dose of entrepreneurial pragmatism.

Dalio sums it up in one inspirational sentence. “Yachts aren’t all about opulence… They’re about where these craft can take us. And the experiences you can have with them.” And what’s better than an underwater yacht that can take us to the deepest heavens, even if it does cost $40 million.

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  • These Superyachts Lead a Double Life as Floating Labs for Ocean Research

Luxury sailing vessels like Seahawk are hosting scientists in remote areas—and seeing new marine sanctuaries resulting from their efforts.

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A number of superyachts are contributing to scientific research, while others are being built specifically as both superyachts and dedicated research vessels.

Dead tuna heads aren’t quite the fine-dining ingredients typically found in a superyacht galley, but during its South Pacific cruise last year, Seahawk had three freezer chests full of them.

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The trend of yachts being loaned out to scientists is becoming more common these days as owners make good on promises of promoting sustainability via their vessels. Cruise lines Viking and Ponant have also jumped into the research game, creating luxury expedition vessels with labs that are now integral to their cruise protocols.

A number of superyachts are contributing to scientific research, while others are being built specifically as both superyachts and dedicated research vessels.

This trend is extending to owners designing superyachts that are hybrid research vessels. When Norwegian shipping magnate Kjell Inge Røkke’s REV Ocean launches in 2026 (the current estimated date of delivery), the 600-foot expedition yacht is expected be crowned the world’s largest superyacht. But it will be much more than that. Fully equipped with multiple labs for different disciplines, as well as advanced scientific equipment, the vessel will toggle between three modes: charter, research and expedition.

Other hybrids are already in the water. After a two-year rebuild at Damen that included the addition of research labs as well as a media center designed by film director James Cameron, OceanXplorer left on her maiden voyage in November 2020 to study the secrets of the Red Sea. The 285-foot vessel is the flagship of OceanX , an ocean exploration initiative founded by American businessmen Ray Dalio and his son, Mark.

A number of superyachts are contributing to scientific research, while others are being built specifically as both superyachts and dedicated research vessels.

Then there are owners like one Europe-based entrepreneur, who has designed a new 170-foot explorer yacht, for personal enjoyment and scientific research. As the summer launch date approaches, the owner is in talks with Yachts for Science , a program that connects scientists, researchers and content creators with yacht owners and crew for possible collaborations. The boat will be offered up free of charge for scientific missions. 

Asking not to be named, the owner’s vision, from the first sketches, was to design an ice-class vessel that combines comfort and practicality. Teak decking, for instance, is out. Dry labs, workshops, a diving compressor and special freezing capabilities are in.

Onboard will be two 29.5-foot tenders specifically made for exploration, as well as four cranes, each of which can lift up to four tonnes. The boat also has the potential to bring two containers of research equipment on the rear deck. 

For Seahawk’s American owners, their 170-foot sailing yacht has been a way to travel the world while leaving a legacy of good behind. Since departing the Mediterranean in 2020, the yacht has hosted scientists studying migratory patterns of pelagic species such as sharks and mantas in the Galapagos and Mexico. They have also helped survey coral reefs in Fiji’s Lau Islands, along with driving multiple charitable initiatives.

Seahawk’s rotational captain, Stephen Edwards, acknowledges that the type of equipment scientists bring with them doesn’t always match with the “superyacht perfection” stereotype.

But the tradeoff is the kind of work very few yacht owners and crew will ever experience. “We have video footage of our bosun holding the mouth of a tiger shark while somebody’s doing surgery on the other end,” says Edwards. “For the crew, this type of voyage is unique. They’re not going to see this in any other way.” 

There is also the reward that comes from knowing their efforts have made a difference. One of Seahawk ’s first missions was to find evidence of a shark swim-way between the Cocos Islands National Park in Costa Rica and the Galapagos Islands.

“The hypothesis is that these areas have always been linked together, but it was a matter for science groups to prove this in order to get governments to stop large fishing boats from parking themselves in the middle of this highway and just grabbing everything that swam past,” Edwards says.

Seahawk’s owner provided a platform for an expedition led by MigraMar, a leading authority in migratory species. “We got into it at a good time, thanks to our tagging work,” says Edwards. “It really put facts behind the hypothesis.” Subsequently, at the UN Climate Change Conference in late 2021, a new 24,000-square-mile marine reserve was defined by Ecuador to safeguard migratory species.

Considering that these voyages have coincided with travels Seahawk ‘s owner had already planned, itineraries that combine yachts and science seem to be a win-win for everyone involved. “These missions benefit the crew, science and the environment,” says Edwards. “The concept is also very much part of the owner’s vernacular. He actually calls it his mission.”

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Ray Dalio went to a Taylor Swift concert, took a selfie, and endorsed her for president

  • Is Ray Dalio a Swiftie now?
  • The billionaire went to a Taylor Swift concert and said afterward that she could unite the country.
  • He's previously said politicians needed to take a more centrist approach.

Ray Dalio has a solution for a divided America: Elect Taylor Swift.

The legendary hedge-fund investor and founder of Bridgewater Associates went to a Taylor Swift concert — and now he thinks she would make a better president than Joe Biden or Donald Trump.

(Honestly, that sounds like a Swiftie's opinion.)

Dalio posted on Instagram on Thursday about his experience attending the pop superstar's Eras tour in Singapore.

His post included a lengthy endorsement of the singer alongside a close-up selfie of himself at the show.

"@TaylorSwift for President!" Dalio wrote. "I just saw her at her concert in Singapore and realized that she can bring together Americans and people in most countries much better than either of the candidates, and that bringing people together is the most important thing."

Though we can assume Dalio was mostly joking about his endorsement, his post did get pretty heartfelt.

"Watching this concert with people from all over the world made me and them feel good and connected and reminded me how powerful that universal culture is," he said. "Wouldn't it be great if we had two candidates who could lead that culture and make smart leadership decisions too?"

Dalio has previously pushed American politicians to take a more centrist approach.

"What we need is a very strong middle," Dalio said at the Fortune Global Forum in November . "We have irreconcilable differences by sides that will not accept losing."

He also told Fortune at the time that he thought former UN Ambassador Nikki Haley was the most promising candidate.

But now that Haley's out of the race , maybe Dalio can persuade Swifties to write her in on the ballot.

Ray Dalio in 2018 and Taylor Swift performing in Singapore this year. Roy Rochlin, Ashok Kumar TAS24/Getty Images

Ray Dalio says Taylor Swift is better at bringing Americans together than Trump or Biden

a photo of Ray Dalio talking.

A day after claiming that Taylor Swift should be president , billionaire investor Ray Dalio walked back his comments while insisting that neither Donald Trump nor Joe Biden is ideal for the job.

The founder of the massive hedge fund Bridgewater Associates posted a selfie at a Taylor Swift concert in Singapore on Thursday and wrote that he was inspired by her ability to bring people together.

“@taylorswift13 for President! I just saw her at her concert in Singapore and realized that she can bring together Americans and people in most countries much better than either of the candidates…” he posted on X, formerly Twitter .

It was clear he had a great time: “Watching this concert with people from all over the world made me and them feel good and connected and reminded me how powerful that universal culture is,” he wrote, before posing a question about politics: “Wouldn’t it be great if we had two candidates who could lead that culture and make smart leadership decisions too?”

A day later, Dalio offered up a clarification and no, he added, he wasn’t drunk when he said Swift should be the leader of the free world. “Though obviously,” he added, “I need to work on my selfies.”

He called his endorsement of Swift both a “joke” and a “half-truth,” clarifying that he thinks “she can bring people together a lot better than either of the presidential candidates and bringing people together is one of the most important things a president should do.” 

He added that her superstardom is a great illustration of America’s cultural power worldwide and that politicians should take her as an example.

“After all, geopolitical power is largely a battle for the hearts and minds of others,” he wrote.

His ideal presidential candidate, he added, could bring people together the way Swift does, and would also be “smart enough to make the right decisions and strong enough to lead most people to do the right things for most people. Unfortunately, I don’t actually see such a candidate [in this election].”

Re: my Taylor Swift for president! comments, no I wasn't drunk (though obviously I need to work on my selfies) and yes it was a joke, which is a half-truth. The half that’s true is that I think she can bring people together a lot better than either of the presidential candidates… https://t.co/nqvfEWEUZx — Ray Dalio (@RayDalio) March 8, 2024

Dalio’s clarification comes a day after President Biden made his State of the Union Address in which he attacked Republicans on tax break policies and proposed increasing taxes on billionaires and corporations.

Biden’s address showed that politicians continue to be at ends and in a constant state of gridlock as November’s presidential election approaches. The partisanship is so bad that the 118th Congress, whose session ends in 2025, is on track to be one of the least productive in history, passing only 34 bills in the first year of its two year session. For comparison, the 117th Congress, which met during Biden’s first two years as President, passed more than 300 laws .

Dalio previously sounded the alarm about political polarization at Fortune ’s Global Forum in Abu Dhabi in November, insisting that the U.S. instead needs “ a very strong middle ” approach. Before she dropped out of the presidential race this week, Dalio’s preferred candidate was former South Carolina Governor Nikki Haley, who he said is smart and “can work across party lines.”

He added that a rematch of the 2020 election would be bad for everyone.

“I pray that we do not have another Trump-Biden election, because that will produce a lot of problems,” Dalio said.

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Restaurant Globus

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  6. OCEANXPLORER Yacht • Ray Dalio $200M Superyacht

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COMMENTS

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    Its onboard facilities include state-of-the-art laboratories, a helicopter, and a media center, all geared towards supporting exploration and research. The yacht is owned by billionaire investor and hedge fund manager Ray Dalio. Its value stands at $200 million, with annual running costs of around $20 million.

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