JAKARTA – Ray Dalio, founder of hedge fund Bridgewater Associates, has denied stepping down as a member of the Advisory Board of the Investment Management Agency Daya Anagata Nusantara (BPI Danantara).

In a letter bearing Danantara’s letterhead, numbered PR.09/DI-BP/VI/2025PR.09/DI-BP/VI/2025, and referred to as a joint statement, Ray affirmed that nothing had changed in his partnership with Danantara.

“My involvement as an advisor remains the same. It is unchanged, voluntary, and unpaid,” Ray stated in a written announcement on Wednesday, 4 June 2025.

He explained that he remains committed to acting as an informal advisor to the leadership of Danantara and to President Prabowo Subianto.

Danantara Indonesia’s communications team stated that Ray has provided valuable guidance and advice to Danantara over the past year.

“President Prabowo, Ray Dalio, and Danantara Indonesia are committed to continuing to strengthen sustainable economic growth and unlocking the full potential of Indonesia’s strategic sectors,” the communications team wrote in the joint statement.

Bridgewater Associates, owned by Ray, is the world’s largest hedge fund, managing assets worth USD 124 billion.

Previously, Danantara CEO Rosan Roeslani had also denied reports that Dalio had stepped down.

He said he had just recently met with Ray Dalio’s son and team.

“Just last week I met with his team, his son as well, Mark Dalio. The discussion went smoothly,” said Rosan at the Presidential Palace in Jakarta, Wednesday (28/5).

He also mentioned recently holding a Zoom meeting with Ray Dalio. “No, no, there’s nothing like that,” he asserted. (DH/KR/ZH)