The 42-year-old son of billionaire Ray Dalio has died in a car crash in Greenwich.
According to published reports, on Thursday afternoon an Audi driven by Devon Dalio crossed a parking strip, hit a curb and crashed into the Verizon store at the Riverside Commons shopping mall at 1253 E. Putnam Ave. in the Riverside section of Greenwich.
Greenwich police, who are still investigating the incident, said the car burst into flames, probably due to its gas tank being ruptured. Verizon employees left the store, which was badly damaged, without harm.
Ray Dalio ”“ the founder of the world”™s largest hedge fund, Westport-based Bridgewater Associates ”“ tweeted that 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 later tweet. “May God be with you and may you cherish your blessings, especially at this time of year.”
The eldest of Ray and Barbara Dalio”™s four sons, Devon Dalio was co-founder of Greenwich private equity firm P-Squared Management Enterprises, and a board member of the Dalio Foundation.
“Annie and I are devastated to hear the news of the sudden and tragic passing of Ray and Barbara Dalio”™s son, Devon,” Connecticut Gov. Ned Lamont said in a statement. “As parents, we cannot imagine the grief and sadness of their loss. Our prayers are with Ray and Barbara, who have been champions for Connecticut”™s children.”
In addition to his parents and three brothers, Devon Dalio is survived by his wife and a daughter.
May he rest in peace