Billionaire Ray Dalio Confirms Son’s Death in Car Crash in Connecticut

Raymond Dalio, 71, the billionaire and founder of Bridgewater Associates, a hedge fund he founded in 1975 confirms the death of Devon Dalio, 42.

Devon, son of the owner of the world’s largest hedge fund died Thursday after his car crashed into a Verizon store in Greenwich, Connecticut, authorities said.

“It is with great pain that I am sharing with you that my 42 year old son was killed in a car crash yesterday. My family and I are mourning and processing and would prefer to be incommunicado for the time being,” Ray Dalio, 71, wrote on Twitter Friday night.

According reports, when police arrived at the accident scene, the Verizon store was engulfed in smoke. The Greenwich police said the car’s gas tank probably ruptured as the car crashed into the store. No employee of the store was harmed and they were able to get out without.

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The accident scene of Devon Dalio’s car accident in the Verizon store in Greenwich, Connecticut.

Devon was driving an Audi that crashed into a Verizon store in Greenwich, Connecticut, where it burst into flames, Greenwich police and Fire Chief Joseph McHugh toldreporters. Investigations are ongoing to determine what led to the crash.

He is survived by a wife and daughter, his parents and three siblings.