My First Million

Snapshot · My First Million

Ray Dalio: The principles that made me a billionaire

Explore episode Jul 17, 2026

Where this was said

Aliens

At 40:05 · chapter starts 39:13

Sam asks whether Dalio still does anything frugal, and the answer is revealing: he can't bring himself to waste, dislikes expensive watches, and buys suits from Banana Republic. But he does spend on one thing without regret — ocean exploration. Inspired by Jacques Cousteau, and deepened by teaching his son to dive (who went on to work for National Geographic as a filmmaker), Dalio owns not a yacht but an ocean exploration ship: a working research laboratory he donates to scientists and tags along on. His point is not asceticism but intentionality — spend heavily on what genuinely brings you joy, not on what signals status. His wife feels the same way; neither is comfortable with jewelry or ostentation.

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