He died at the age of 42. On the evening of December 18, 71-year-old Ray tweeted: "It is with great pain that I am sharing with you that my 42-year-old son was killed in acar crashyesterday. Maybe some days later, police prove there was another cause for the crash. Example video title will go here for this video. Ray Dalio's son Devon Dalio tragically died in a car accident in Greenwich, Connecticut on 17 December 2020. Rising Rapper ohtrapstar Dies in Fiery Car Crash That Killed 2 Others: Police, Remembering the 59 Slain Victims of the Las Vegas Concert Massacre, 3 Years Later, Tropical Storm Isaias Leaves At Least 8 People Including 5-Year-Old Girl Dead, PEOPLE Picks the Best New Books of the Week, Royal Baby No. The hedge fund giant has since expanded into one of the largest in the world, managing roughly $140billion. ", 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, Devin once worked for Bridgwater Associates, his father's company, Devin drove his Audi into a Verizon store, The Audi and store both went up into flames, Ray Dalio, billionaire and founder of Bridgewater Associates LP, Ray speaks during the Economic Summit held for the China Development Forum in Beijing, China, Who was Devon Dalio? Everyone else in the store was unhurt and escaped but Dalio. Dalio was a co-founder/partner at P-Squared Private Equity and was a former project manager at his fathers firm, according to his LinkedIn page. Aspiring Olympic Swimmer, 15, Dies in Car Crash While Visiting Colleges with Dad in N.C. The Law Did Not Treat Them Kindly. Devon Dalio, the 42-year-old son of hedge fund billionaire Ray Dalio, was killed last week in a car accident in Connecticut after his vehicle crashed through a store in a shopping center. Employees were able to get out without being harmed. Death. Ray Dalio, who is married and has three other children, thanked his followers and said he did not plan to speak publicly about Devon Dalio's death moving forward. 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. Our prayers are with Ray and Barbara, who have been champions for Connecticut children, Lamont said. All rights reserved. As parents, we cannot imagine the grief and sadness of their loss, Lamont said. He died at the age of 42. zergnet.src = (document.location.protocol == "https:" ? His grandparents were Ann and Marino Dallolio. Greenwich police said the cars gas tank probably ruptured as the car entered the store. He was of Caucasian ethnicity and a Christian. He was the only victim of the incident. Ray Dalio, the founder of Bridgewater Associates, announced the tragic loss on Twitter Friday, one day after Devon died in a single-car wreck in Greenwich. In a tweet, Ray Dalio - the billionaire founder of Westport, Connecticut's Bridgewater Associates, known as the world's largest hedge fund - announced his son's death and said his family was "mourning and processing and would prefer to be incommunicado for the time being.". He had an average body build. Devon Dalio car crash death: Did drugs, alcohol, mental health play a role? Ray Dalio, Devin's father, served as a co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, which he founded in 1975. Also causing speculation was Dalios state of mind, and claims of Dalio dealing with mental health problems which led to him not controlling and crashing. As we mentioned in the first paragraph, he probably couldnt control the car because of mental health problems. He co-founded P-Squared Management Enterprises, a Greenwich-based private equity firm, theGreenwich Sentinel reported. According to an American business magazine, Ray Dalio has an estimated net worth of USD $18.6 billion as of July 2020, making him the 69th richest person globally and 26th on the Forbes 400 list. He died of smoke inhalation and thermal injuries,. To request removal of your name from an arrest report, submit these required items to arrestreports@patch.com. Dalio was the co-founder and partner at P-Squared Private Equity. May God be with you and may you cherish your blessings, especially at this time of year. The family spokesperson confirmed the death in a Thursday afternoon crash to Hearst Connecticut Media. The vehicle and the store became engulfed in flames and Dalio could not be saved. Market data provided by Factset. His brothers are Paul, Matthew Ace, and Mark. A spokesperson for the family confirmed his death following the crash in Connecticut. The family spokesperson on Friday, Dec. 18, 2020 confirmed Devon Dalio's death in a Thursday afternoon crash to Hearst Connecticut Media. He also served as a Dalio Foundation board member. GREENWICH, Conn. (AP) 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. Staff writer Amanda Blanco contributed to this report. He was named after North Devon cattle because his father Ray was deeply involved in cattle futures at the time of his birth. The area approacing the E Put and Exit 5 intersection will be closed and traffic deverted. The store was completely engulfed in smoke, which stopped officers from approaching the inside, but the employees exited the store without injuries. No other information was released on the crash. Powered and implemented by FactSet Digital Solutions. According to Greenwich Time, Devon's philanthropic interests included health and wellness, support for veterans, disaster relief, and animal welfare. The family confirmed the death on Thursday afternoon. zergnet.type = 'text/javascript'; zergnet.async = true; Ned Lamont, a Greenwich resident, released a statement offering his condolences to the Dalio family. We are also working with the Greenwich Fire Marshalls office regarding the fire cause and origin.. Devon Dalio, Son of Ray Dalio, Dies in Riverside Commons Car Crash Devon Dalio worked early in his career for his fathers Westport-based firm Bridgewater Associates, now the largest hedge fund in the world. Ray Dalios sons mental health may cause his fatal accident; Devon Dalio was killed. Legal Statement. According to his family, Devon Dalio was the Co-Founder of P-Squared Management Enterprises, a private equity firm that is focused on small and mid-market healthcare technology companies. As parents, we cannot imagine the grief and sadness of their loss. Cause of Dalio death ruled accidental smoke inhalation and - FOX61 Over 100 Greenwich Hospital Physicians Make CT Top Doctors List, Peter Crumbine, Former Greenwich Selectman, Has Died At 84, Car Thieves Charged After Crashing Into Greenwich House: Police, Seven Acres Montessori Virtual Prospective Parent Information Event. May God be with you and may you cherish your blessings, especially at this time of year.. 6 feet and 1 inch tall. Devon held the position of CEO at the Dalio Family Office for eight years, and then co-founded P-Squared Private Equity, a private equity firm, of which he was also a member of the partnership. We will update it asap. Devon Dalio was a businessman who was better known as the eldest son of hedge fund billionaire, Ray Dalio. We also use third-party cookies that help us analyze and understand how you use this website. His brother Paul is open about his bipolar disorder. After a collision with a Verizon store, his Audi S6 burst into flames. My family and I are mourning and processing and would prefer to be incommunicado for the time being, wrote Ray, 71. Devon Dalio dead - Billionaire Ray Dalio's son killed - The Sun Who is Devon Dalio? Ray Dalio Son Dies; His Wife, Bio, Wiki, Age, Cause It was featured on The New York Times bestseller list, where it was called a gospel of radical transparency. Multiple sources confirmed that Devon also had some mental health problems. Losing his son, he said, "triggered an enormous amount of pain and reflection" that his past experiences with death and mourning did not prepare him for. Ray Dalio confirmed his son's death via social media. His mother is a descendant of sculptor Gertrude Vanderbilt Whitney. Learn how your comment data is processed. The remaining $500,000 was provided to the Connecticut Food Bank to distribute statewide. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Ray. He belonged to white ethnicity and his religion was Christianity. Devon Dalio was killed on Thursday afternoon when his 2016 Audi drove over the parking strip, mounted the curb, and crashed into the Verizon storefront located within the Riverside Commons Shopping Center at 1253 E. Putnam Ave. After entering the building, a fire ignited. Ray Dalio founded Bridgewater Associates in 1975 which is the world's largest hedge fund at present. That is not a photo of Devon, that is a photo of his brother. He also served as a board member of the Dalio Foundation, according to the foundations tax filings. When P-Squared Private Equity was created, Dalio was one of the founding partners. Legal Statement. The inquiry into Devon's vehicle accident is ongoing, and the shopping mall was seriously damaged. The cause of the crash is still under investigation, Greenwich Police Department Public Information Officer Mark Zuccerella said. Do you have any idea or official information about the incident? 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. Greenwich Police and Fire Chief Joseph McHugh confirmed that Devon crashed his Audio into the mall where it then burst into flames. Billionaire hedge fund founder Ray Dalio's son, who died in a Greenwich, Conn., car crash last month, suffered from smoke inhalation and thermal injuries that led to his death, officials confirmed to Fox News on Monday. The cause of the collision and the fire, as well as the cause of the driver's death, is currently unknown, Zuccerella said. Rachel DeSantis. Hepreviously said it was not yet clear if Dalio had any known history of medical conditions. May God be with you and may you cherish your blessings, especially at this time of year.". His mental health problems reportedly led him not to control the car and crash a store. A spokesperson for the family confirmed his death following the crash inConnecticut. He died of smoke inhalation and thermal injuries, according to medical examiners. A family spokesperson says the 42-year-old son of hedge fund founder Ray Dalio died in a car crash this week. Necessary cookies are absolutely essential for the website to function properly. He was also a former employee at Bridgwater Associates. })(); Cheney H.S student killed after impaled during gym class, Louisiana woman kills boyfriends daughter, wheels body to moms lawn, Mom influencer convicted of lying about Latino couple kidnapping children, TikTok challenge gone wrong leaves Wake Forest teen w/ 80% burns to body, Doing what they loved: Couple killed in plane crash in Georgia during 400 mile trip, Billionaire hedge fund son dies crashing into Verizon store, The son of the owner of the worlds largest, Dalios Audi crashed into the Verizon store at a shopping center Thursday afternoon and burst into flames. The Greenwich Fire Department and police arrived at the scene at about 3:50 p.m. Thursday. More details about his early life will be updated soon. Stephanie Pagones is a Digital Reporter for FOX Business and Fox News. Devon Dalio was born in Los Angeles on March 26, 1978 to parents Ray and Barbara Dalio. His Audi S6 collided with a Verizon store and caught fire. Devon Dalio, 42, was the son of Raymond Dalio, 71, the billionaire founder of Bridgewater Associates, a hedge fund he founded in 1975. It is mandatory to procure user consent prior to running these cookies on your website. Ned Lamont, who lives in Greenwich, issued a statement to the outlet mourning the loss of Devon. A total of $3 million dollars was directed toward the sponsorship of childcare services at 26 centers across the state for hospital workers. This investigation has many components and the Greenwich Police Department wants to ensure all avenues are appropriately assessed and its findings are properly documented, Zuccerella said. Having worked at his father's company in several top positions, he started a private equity firm on his own. FILE - In this March 23, 2019 file photo, Bridgewater Associates Chairman Ray Dalio speaks during the Economic Summit held for the China Development Forum in Beijing, China. Virginia NAACP calls for resignation after state's chief diversity officer says 'DEI is dead', Permanent supporting housing project opens in South LA, Brenda Thurman's Daughter Accuses Dwayne Thurman of Murder. Devin Dalio died in a fiery car accident According to Greenwich Time, Devon's philanthropic interests included health and wellness, support for veterans, disaster relief, and animal welfare. Devon Dalio's death main cause was speeding The police arrived on the accident scene at around 3:50 pm. After a collision with a Verizon store, his Audi S6 burst into flames. BILLIONAIRE RAY DALIO SPEAKS OUT ABOUT 'JOURNEY AND REFLECTIONS' FOLLOWING SON'S SUDDEN DEATH. Devon died on December 17 after his Audi slammed into a Verizon store and burst into flames. Market data provided by Factset. May God love Devon, and may He bless his family., Mozilla/5.0 (Linux; Android 10; K) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/112.0.0.0 Mobile Safari/537.36, Devon Dalio, Son of Ray Dalio, Dies in Riverside Commons Car Crash, Investigation of Thruway Shopping Center Motor Vehicle Collision Continues, Greenwich Police Continue to Investigate Fatal Riverside Crash. (deployads = window.deployads || []).push({}); (function() { Hedge fund billionaire Ray Dalio's eldest son, Devon Dalio died in a car crash in Greenwich, Connecticut on 17 December 2020. The names of his wife and children remain a mystery. Dangerous conditions prevented first responders from approaching the interior, but employees inside the store were able to escape unharmed. By the time cops arrived, the store was completely engulfed in smoke, though employees were able to exit unharmed and no one else was injured.