• Dalio recently said the American dream "does not exist" and capitalism may collapse if leaders don't act now.
  • Read more to discover more about his insights into investing and his life principles.
  • Visit Business Insider's homepage for more stories .

Legendary hedge fund investor Ray Dalio is renowned figure in the world of finance, but is equally famous for his views on life, investing, and much more.

The founder of Bridgewater Associates made a whopping $2 billion last year, the Institutional Investor's annual Rich List, shows.

Dalio recently said the American dream "does not exist" right now and that if leaders don't act the whole economic system of capitalism could collapse during the coronavirus-induced recesson

Dalio said policymakers needed to take steps to make education available to all and boost incomes for low-income Americans, who have been disproportionately affected by the coronavirus pandemic.

Dalio loves a soundbite, so Markets Insider decided to round up some of his most insightful and interesting quotes. Check them out below:

On philanthropy: "I pay about a third in taxes, I give away about a third, and I follow the law."

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Bloomberg TV

Source: New York Times

On over-reliance on predictions: "He who lives by the crystal ball will eat shattered glass."

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REUTERS/Maxim Shemetov

Source: CNBC

On trusting your gut: "Do the opposite of what your instincts are."

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Roy Rochlin/Getty Images

Source: The Motley Fool

On meditating: "Meditation more than anything in my life was the biggest ingredient of whatever success I've had."

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Reuters / Ruben Sprich

Source: Medium

On spending: "Pull in your belt, spend less, and reduce debt"

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Brian Snyder/Reuters

Source: Barron's

On progress: "Pain + Reflection = Progress"

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Hollis Johnson/Business Insider

Source: Business Insider

On debt: "Printing money is the most expedient, least well-understood, and most common big way of restructuring debts. It's like playing Monopoly in a way where the banker can make more money and redistribute it to everyone when too many of the players are going broke and getting angry.

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Roy Rochlin/Getty Images

Source: Bloomberg

On economic opportunity: "If you don't have a situation where people have opportunity, you're not only failing to tap all the potential that exists, which is uneconomic, you're threatening the existence of the system, and I think that's coming to home very clearly with the downturn in the economy with this virus."

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Hollis Johnson

Source: Business Insider

On the value of money: "Remember that the only purpose of money is to get you what you want, so think hard about what you value and put it above money. How much would you sell a good relationship for? There's not enough money in the world to get you to part with a valued relationship."

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Hollis Johnson/Business Insider

Source: His Facebook page

On jobs: "Don't just pay attention to your job; pay attention to how your job will be done if you are no longer around."

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REUTERS/Ruben Sprich

Source: Ray Dalio Principles

On the 2020 economic crisis: "This is not a recession; this is a breakdown. You're seeing the same thing that happened in the 1930s."

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Hollis Johnson/Business Insider

Source: Forbes

On playing the long-game: "I don't get caught up in the moment."

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Getty Images / Roy Rochlin

Source: CNBC

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