Billionaire Ray Dalio believes in an old saying: “When the student is ready, the teacher will appear.”
That may explain how Dalio, a hedge fund tycoon with a net worth of $20 billion, according to Forbes, became a mentor to entrepreneur and music mogul Sean “Diddy” Combs.
The two met during a photoshoot for Forbes magazine’s list of “100 Greatest Living Business Minds” in 2017 when Combs approached Dalio and started asking him questions, Dalio tells CNBC Make It.
“I didn’t really know who he was,” Dalio says.
But their meeting turned into a sustained relationship — as Dalio tweeted in 2019, a mentorship aimed at helping Combs “take his great success to another level.”
But you don’t have to be a household name like “Diddy” to score a great mentor, says Dalio. Instead, some personality traits are key to establishing a strong mentor relationship, he says.
“The first thing that it starts with is humility,” Dalio says. For him, that means…