Son of wealthy philanthropists Ray and Barbara Dalio killed after car crashes into Verizon store

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

Devon Dalio, the 42-year-old son of hedge fund founder Ray Dalio, died in a car crash this week, a family spokesperson said Friday.

The family spokesperson confirmed the death in a Thursday afternoon crash to Hearst Connecticut Media. He has crashed his Audi into a Verizon store at a shopping center and it burst into flames, Greenwich police and Fire Chief Joseph McHugh said.

The cause of the crash is still under investigation, Greenwich Police Department Public Information Officer Mark Zuccerella said. The Verizon store was largely destroyed, the newspaper reported.

Barbara Dalio (L) and Ray Dalio (C) are wealthy philanthropists in Connecticut

A tragedy in Greenwich, Connecticut has taken the life of 42-year-old Devon Dalio

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

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

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

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

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

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

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

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

Pictured: First responders checking out the scene of the deadly car accident

In a tweet, Ray Dalio – the billionaire founder of Westport, Connecticut’s Bridgewater Associates – known as the world’s largest hedge fund – said his family was ‘mourning and processing and 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.’

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

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: 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

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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