The son of the owner of the world’s largest hedge fund died Thursday after driving his car into a Verizon store in Greenwich, Conn. Crashed, authorities said.
Devon Dalio, 42, was the son of Raymond Dalio, 71, the billionaire founder of Bridgewater Associates, a hedge fund he founded in 1975.
Dalio’s Audi crashed the Verizon store into a mall on Thursday afternoon and burst into flames. Police are still investigating the cause of the crash that nearly destroyed the store, the Associated Press said.
Dalio apparently crossed a parking lane and climbed a curb before slamming the doors and driving all the way into the store, police told Greenwich Time.
When the police arrived on the scene, the shop was shrouded in smoke. Greenwich police said the car’s gas tank was likely ruptured when the car entered the store. Employees could come out without damage.
Dalio was a co-founder / partner at P-Squared Private Equity and, according to his LinkedIn page, was a former project manager at his father’s company. He graduated from Lafayette College.
Ray Dalio said in a tweet that his family “mourned and processed and would prefer to be incommunicado for the time being”.
Dalio followed with a second tweet:
“We know that the terrible pain we feel has been and is still being felt by so many others, so our sympathy goes out to them. May God be with you and may you cherish your blessings, especially at this time of the year. “
In addition to his father and mother Barbara, Devon Dalio is survived by a wife, 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 Governor Ned Lamont, a family friend, said in a statement Friday. “As parents, we cannot imagine the grief and sorrow of their loss. Our prayers are with Ray and Barbara, who have been champions for the children of Connecticut. “