Billionaire's Son Killed in Freak Crash in Connecticut

Devon Dalio, son of Ray Dalio, crashed into a Verizon store and largely destroyed it
By Newser Editors and Wire Services
Posted Dec 20, 2020 8:45 AM CST
Billionaire's Son Killed in Freak Crash in Connecticut
In this 2019 file photo, Bridgewater Associates Chairman Ray Dalio speaks during a summit in China.   (AP Photo/Ng Han Guan, File)

(Newser) – Devon Dalio, the 42-year-old son of hedge fund founder Ray Dalio, died in a car crash that made headlines in Connecticut this week, per the AP. On Thursday afternoon, an Audi crashed into a Verizon store at a shopping center in Greenwich and burst into flames, said Greenwich police and Fire Chief Joseph McHugh. The Verizon store was largely destroyed, and the cause of the crash is still under investigation. In a tweet, Ray Dalio—the billionaire founder of 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. 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. 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.

(Read more Connecticut stories.)

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