A family spokesman says the 42-year-old son of hedge fund founder Ray Dalio died in a car accident this week
GREENWICH, Conn. – Devon Dalio, the son of hedge fund founder Ray Dalio, 42, died in a car accident this week, a family spokesman said Friday.
The family spokesman confirmed the death in an accident Thursday afternoon on Hearst Connecticut Media. An Audi had crashed into a Verizon store in a mall and exploded in flames, Greenwich police and fire chief Joseph McHugh said.
Mark Zuccerella, head of public information at the Greenwich Police Department, is still investigating the cause of the crash. The newspaper reported that the Verizon store was largely destroyed.
In a tweet, Ray Dalio, the billionaire founder of Westport, Bridgewater Associates of Connecticut, known as the world’s largest hedge fund, said his family “was in mourning and prosecuting and would rather be incommunicado for now.”
“We know the terrible pain we feel has been and continues to be felt by so many others, so our sympathies came to them,” he said in a follow-up tweet. “May God be with you and take care of your blessings, especially at this time of year.”
According to Devon Dalio’s LinkedIn page, he worked as a project manager at Bridgewater Associates. He was also a board member of the Dalio Foundation, according to the foundation’s tax returns. In addition to her parents Ray and Barbara Dalio, a woman, a daughter and three brothers have survived, the newspaper reported.
Connecticut Governor Ned Lamont, a Greenwich resident, issued a statement saying he was “devastated” by the death of Devon Dalio.
“As parents, we can’t imagine the pain and sadness of their loss,” Lamont said. “Our prayers are with Ray and Barbara, who have been advocates for Connecticut children.”