A family spokesperson says the 42-year-old son of hedge fund founder Ray Dalio was killed in a car accident this week.
GREENWICH, Conn. Devon Dalio, the 42-year-old son of hedge fund founder Ray Dalio, died in a car accident this week, a family spokesman said Friday.
The family spokesperson confirmed the death in a crash on Thursday afternoon to Hearst Connecticut Media. An Audi had crashed into a Verizon store in a mall and went up in flames, Greenwich police and fire chief Joseph McHugh said.
The cause of the crash is still under investigation, said Mark Zuccerella, Greenwich police officer. The Verizon store was largely destroyed, the paper reported.
In a tweet, Ray Dalio – the billionaire founder of Westport, Bridgewater Associates in Connecticut, known as the world’s largest hedge fund – said his family “mourns and processes and would rather be incommunicado for now.”
“We know that the terrible pain we feel is and still is felt by so many others, so our sympathy goes out to them,” he said in a follow-up tweet. “May God be with you and may you cherish your heart. Blessings especially at this time of the 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 his parents Ray and Barbara Dalio, he is survived by a wife, daughter and three brothers, the newspaper reports.
Connecticut Governor Ned Lamont, a Greenwich resident, released a statement saying he was “devastated” by the death of the Devon Dalio.
“As parents, we cannot imagine the grief and sorrow of their loss,” Lamont said. “Our prayers are with Ray and Barbara, who have been champions for the Connecticut children.”