The son of the owner of the world’s largest hedge fund died Thursday after he crashed his car into a Verizon store in Greenwich, Connecticut, authorities reported.
Devon Dalio, 42, was the son of Raymond Dalio, 71, the founding billionaire of Bridgewater Associates, a hedge fund he founded in 1975.
Dalio’s Audi crashed Thursday afternoon in a mall’s Verizon store and exploded in flames. According to the Associated Press, police are still investigating the causes of the crash that nearly destroyed the store.
Apparently, Dalio crossed a parking lot and set up a curb before knocking on doors and drove to the store, police told Greenwich Time.
When police arrived at the scene, the store was smoked. Greenwich police said the car’s petrol tank probably broke when the car entered the store. Employees were able to leave without being injured.
Dalio was a co-founder / partner of P-Squared Private Equity and was a former project manager at his father’s firm, according to his LinkedIn page. He graduated from Lafayette College.
Ray Dalio he said in a tweet that his family was “in mourning and prosecuted and that he would rather be incommunicado for the time being.”
Dalio tweeted a second time:
“We know that so many others have suffered and continue to feel the terrible pain we feel, so our sympathies are felt. May God be with you and consider your blessings, especially at this time of year. “
In addition to his father and mother Barbara, Devon Dalio is survived by a wife, a daughter and three brothers.
“Annie and I are devastated to hear the news of the sudden and tragic passing of Ray and Barbara Dalio’s son, Devon,” Connecticut Gov. Ned Lamont, a family friend, said Friday. “As parents, we cannot imagine the pain and sadness of losing them. Our prayers are with Ray and Barbara, who have been advocates for Connecticut children. “