Devon Dalio, 42, son of billionaire hedge fund investor Ray Dalio, dies after his Audi sedan plows into a Verizon store in Greenwich CT and bursts into flames
- Devon Dalio, 42, was the son of hedge fund founder Ray Dalio and his wife Barbara
- Dalio allegedly crashed his car into a Verizon store on Thursday afternoon
- The 42-year-old was the only one killed in the accident, which is under investigation
- His father, Ray Dalio, is the founder of the world’s biggest hedge fund
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The son of billionaire hedge fund founder Ray Dalio has died after being involved in a fiery car accident in Connecticut this week, the family has announced.
Devon Dalio, 42, was killed on Thursday afternoon after his Audi smashed into a Verizon store in a Greenwich shopping center and burst into flames, local news outlets reported.
A family spokesperson confirmed his death in a statement to Hearst Connecticut Media Friday evening, saying: ‘It is a heartbreaking tragedy and the family is in mourning.’
In a tweet, Devon’s father Ray Dalio – the billionaire founder of Westport, Connecticut’s Bridgewater Associates – known as the world’s largest hedge fund – said his family ‘would prefer to be incommunicado for the time being.’
‘We know that the terrible pain we are feeling has been and continues to be felt by so many others so our sympathies go out to them,’ he said in a follow-up tweet. ‘May God be with you and may you cherish your blessings, especially at this time of year.’
The cause of the deadly crash is still under investigation, the Greenwich Police Department said.
Authorities say Devon’s 2016 Audi plowed into the Verizon store in the Riverside Commons shopping complex on East Putnam Avenue near Exit 5 on I-95.
The car had jumped over a parking strip and the curb before crashing directly into doors and entering the store.
Police arrived at the scene just before 4pm to find the store ‘completely engulfed in smoke’, blocking officers from entry, according to the paper.
The blaze was extinguished by the Greenwich Fire Department before it could cause further damage to the shopping center. The Verizon store was largely destroyed, the newspaper reported.
Verizon employees managed to exit the store safely, police said.
Devon Dalio, (left) the 42-year-old son of hedge fund founder Ray Dalio (right, with his wife Barbara) died in a car crash this week, a family spokesperson said Friday
A tragedy in Greenwich, Connecticut has taken the life of 42-year-old Devon Dalio
The car accident happened around 3:50pm on Thursday afternoon
A car was driven into a Verizon store at a shopping center, killing Dalio, the driver
First responders were called to the scene off of East Putnam Avenue in Riverside
The cause of the deadly crash that took Dalio’s life is still under investigation
Pictured: Police rope off the area around the Verizon store where the crash happened
A large number of first responders addressed the accident at the shopping center
The Verizon store was completely destroyed when the car crashed into it on Thursday
Pictured: First responders checking out the scene of the deadly car accident
According to Devon Dalio’s LinkedIn page, he worked as a project manager at Bridgewater Associates. He also served as a board member of the Dalio Foundation, according to the foundation’s tax filings. In addition to his parents Ray and Barbara Dalio, he’s survived by a wife, daughter and three brothers, the newspaper reported.
Ray Dalio is the founder of a major hedge fund, Bridgewater Associates
Pictured: First responders look at the scene where the accident started a fire
Pictured: A heavy police response to the car accident and fire at the Greenwich shops
Connecticut Gov. Ned Lamont, a Greenwich resident, released a statement in which he said he was ‘devastated’ by Devon Dalio’s death.
‘As parents, we cannot imagine the grief and sadness of their loss,’ Lamont said. ‘Our prayers are with Ray and Barbara, who have been champions for Connecticut´s children.’
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