Recent reports suggesting the departure of hedge fund billionaire Ray Dalio from his advisory role with Indonesia’s sovereign wealth fund, Danantara, have been firmly denied. Rosan Roeslani, CEO of Danantara, swiftly moved to quash the speculation, affirming that Dalio remains an integral part of the fund’s advisory board and that communication continues to be positive and ongoing.
The rumors gained traction following a Bloomberg report on May 28, 2025, which cited sources indicating Dalio had chosen not to proceed with joining the advisory board for personal reasons. This sparked immediate concern and market speculation, as Dalio’s involvement was highly anticipated to boost global investor confidence in the newly established fund.
However, Rosan Roeslani, speaking from the Presidential Palace, explicitly contradicted these reports. He confirmed that recent meetings and virtual discussions with Dalio and his team, including his brother Mark Dalio, have been smooth and are continuing without any issues. “No, no, no, there’s no cancellation,” Rosan stated, emphasizing the ongoing nature of their collaboration.
Ray Dalio, founder of Bridgewater Associates, was appointed to Danantara’s advisory board in March 2025, alongside other prominent figures like former Thai Prime Minister Thaksin Shinawatra, economist Jeffrey Sachs, and former Credit Suisse Asia head Helman Sitohang. These high-profile appointments were strategically designed to bolster the fund’s credibility and professionalism on the global stage.
The swift clarification from Danantara’s CEO underscores the importance of Dalio’s perceived involvement. Analysts had previously noted that high-profile advisors serve as critical credibility markers for new sovereign wealth funds, and any perceived withdrawal could dilute early excitement and raise questions about governance challenges.
Danantara, as Indonesia’s sovereign wealth fund, is tasked with managing significant state-owned enterprise funds and attracting substantial foreign investment to drive the nation’s economic transformation. The fund’s emergence is a flagship initiative of President Prabowo Subianto’s administration, aiming to accelerate investment and economic growth.