Ray Dalio, billionaire and founder of Bridgewater Associates.
David Paul Morris | Bloomberg | Getty Images
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 spokesman confirmed the death in a crash on Thursday afternoon to Hearst Connecticut Media. An Audi collapsed in a Verizon store in a mall and went up in flames, said Greenwich police and fire chief Joseph McHugh.
The cause of the crash is still being investigated, said Mark Zuccerella, Greenwich Police Department information officer. The Verizon store was largely destroyed, the newspaper reported.
In a tweet, Ray Dalio – Connecticut’s billionaire founder Bridgewater Associates, known as the world’s largest hedge fund – said his family “is grieving and coming to terms and would prefer to be out of touch for the time being.”
“We know the terrible pain we feel has been and is being felt by so many others that our condolences go out to them,” he said in a follow-up tweet. “May God be with you and may you appreciate your blessings, especially at this time of year.”
According to Devon Dalio’s LinkedIn page, he was 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, a wife, daughter and three brothers survived, the newspaper reported.
Connecticut Governor Ned Lamont, who lives in Greenwich, issued a statement saying he was “devastated” by the death of Devon Dalio.
“As parents, we cannot imagine the grief and sadness of their loss,” said Lamont. “Our prayers are with Ray and Barbara who stood up for the Connecticut children.”