Billionaire Ray Dalio showed up at Burning Man in a tie-dye fur coat and said it was like Woodstock, but with 'less good music'

Hollis Johnson/Business Insider

Bridgewater Associates founder Ray Dalio.

• Hedge-fund billionaire Ray Dalio attended Burning Man, the nine-day arts festival in the middle of Black Rock desert in Nevada.
• 70-year-old Dalio tweeted a photo of himself sporting a blue tie-dye fur coat and bell bottoms with a psychedelic print.
• While he may look outlandish, he probably fit right in at the festival, where Burners are encouraged to wear anything they want.
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Hedge-fund billionaire Ray Dalio seems to be enjoying semi-retirement - and living it up at the famous Burning Man festival, which recently wrapped up.

While some billionaires don't mind the occasional outlandish outfit - think Richard Branson cross-dressing or Jeff Bezos doing his best Dwayne Johnson impression - Ray Dalio usually sticks to a blue or gray suit, sometimes without a tie. But the Bridgewater Associates founder decided to go all out for his trip to Burning Man, the annual nine-day music and arts festival that takes place in Nevada's Black Rock desert. Dalio tweeted a photo of himself on Monday at Burning Man sporting tie-dye from head to toe: bell bottoms, shirt, and a coat with blue fur fringe. 

In the tweet, 70-year-old Dalio said it was like Woodstock, but "with better art (installations) and less good music." Dalio also noted that the best time to enjoy the festivities was between 1 and 5 am.

See the tweet below:

Dalio is pictured with Jeff Taylor, a senior executive at Bridgewater Associates and founder of job site Monster.com.

Burning Man started as a small gathering when it was founded in 1986, and now attracts around 70,000 people each year. Ultra-wealthy participants like Dalio have been criticized for attending the counter-culture festival. Dalio's own tweet, for example, was met with criticism and trolling from Twitter users. One user tweeted that because of the rich and famous attending, Burning Man's "allure has been completely fabricated."

Dalio may not be known for his fashion sense, but he is known for his unusual management style. Ever since founding his hedge fund, Bridgewater Associates, in 1975, Dalio has used what he calls "radical transparency" to run his company. At Bridgewater, almost all meetings are recorded, and employees can rate one another during meetings using iPads.

He's credited those management techniques in helping transform Bridgewater from a one-man operation to a hedge fund with $150 billion in assets under management. 

In recent years, however, Dalio has taken a step back from management, now serving as the hedge fund's cochief investment officer. And, as Dalio's tweet shows, he's enjoying his free time.

Dalio's fur coat may look garish in the real world, but at Burning Man, he would have fit in perfectly. Part of the festival's popularity is due to the fact that attendees can wear anything they want. Burners, as they're known, wear everything from feathers and wigs to bikinis. In many cases, clothing is optional.

Burning Man isn't the only time Dalio has dressed up (or dress down) for a party. In 1976, he wore short shorts to Rio de Janeiro's carnival.