5 Richest Hedge Fund Managers in the World

3. Ray Dalio

Top Pick: Salesforce Inc. (NYSE:CRM)

Ray Dalio ranks among the richest hedge fund managers in the world. Although NVIDIA Corporation (NASDAQ:NVDA) remains the billionaire’s largest position, Salesforce Inc. (NYSE:CRM) ranks 5^th on the list of Ray Dalio’s top holdings with a 1.87% portfolio share.

Citing field data indicating slowed transaction activity and increasing competitive pressure, Citi lowered its price target on Salesforce Inc. (NYSE:CRM) from $200 to $188 on May 12. Despite this, it kept its Neutral rating on the company ahead of the first-quarter reports.

According to the bank’s checks with three Salesforce partners, resellers reported “lengthening deal cycles and greater portfolio optimization at renewals,” especially in the company’s Tableau and Marketing Cloud products.

Salesforce’s AI platform, Agentforce, continues to dominate customer engagements, though it has yet to result in significant adoption, according to Citi. The firm stated that “unpredictability of cost being a main hurdle” is preventing clients from scaling the product, and contract lengths have become shorter due to uncertainty around AI.

Citi believes that Salesforce Inc. (NYSE:CRM) will post first-quarter results that are either marginally below or generally in line with projections, with organic current outstanding performance obligation rising by about 9% in constant currency.

Salesforce Inc. (NYSE:CRM) is a global enterprise software company that provides customer relationship management (CRM) and cloud-based business applications across sales, service, marketing, commerce, and data analytics. Its Customer 360 platform, powered by data tools and trusted AI, enables organizations to unify customer data and drive personalized engagement.