Dalio, the founder of the world's largest hedge fund, Bridgewater Associates, wrote a column for Time magazine published Tuesday.
"To begin, I want to make clear that I respect, like, and empathize with President Biden and I get that Democrats find themselves in a difficult position," Dalio wrote.
"I look at this case like the fable of the emperor who has no clothes," Dalio added.
First, the party can retain Biden as its nominee, a path Dalio thinks the party has chosen for now — at least publicly.
Related storiesThe billionaire then suggested two alternative strategies, including a "mini-primary plan" where a select group of candidates battle it out to succeed Biden.
Persons:
—, Ray Dalio, Joe Biden's, Biden, Dalio, straightforwardness, Kamala Harris, Biden didn't, Donald Trump, Nancy Pelosi, Joe
Organizations:
Service, Democratic Party, Bridgewater Associates, LinkedIn, Business, Biden, Democratic, BI, Trump