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Ray Dalio says son killed in Connecticut car accident

Billionaire hedge fund investor Ray Dalio has tweeted about the death of his 42-year-old son, Devon Dalio, killed in a car accident earlier this week.

Devon Dalio was driving when his car crashed into a Verizon store in Greenwich, Connecticut, on Thursday, according to the Connecticut Post newspaper.

Dalio’s Audi crashed into the store and burst into flames. Police are still investigating the cause of the crash, which almost destroyed the store. No employees were injured, according to the Associated Press.

Devon was Ray and Barbara Dalio’s oldest son and was co-founder of P-Squared Management Enterprises, a private equity firm focused on small- and mid-market health care technology companies. He was a Dalio Foundation board member.

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

Ray Dalio is the founder and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund, and is often sought out for his views on the stock market SPX, -0.35%. His net worth is $15.5 billion, according to the Bloomberg Billionaires Index.

Read: A ‘flood of money’ should keep this bull market alive, even with the U.S. at a ‘tipping point,’ billionaire investor says

And: Post-election political estrangement has landed U.S. at ‘tipping point,’ warns world’s biggest hedge-fund manager

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