Devon Dalio, son of billionaire Bridgewater Associates founder Ray Dalio, was killed Thursday in a car crash in Connecticut.
He was the eldest son of his hedge fund manager father and co-founded the private equity firm, P-Squared Management Enterprises, Greenwich Time reports. He was 42.
Dalio was driving a 2016 Audi on Thursday when he passed over a parking strip and mounted a curb before crashing into the Riverside Commons shopping center’s Verizon store. His car burst into flames.
Fire Chief Joseph McHugh said Friday he believes the blaze was likely a result of the gas tank rupturing as Dalio drove into the store, which Greenwich Police spokesman Mark Zuccerella said was “completely engulfed in smoke.” This prevented officers from being able to enter.
Police said all of employees of the largely damaged store managed to exit without injury and the fire was extinguished before it further damaged the shopping center.
The cause of the fatal crash is under investigation by Greenwich Police, according to Zuccerella.
Dalio — whose philanthropic interests included disaster relief, animal welfare, support for veterans, and health and wellness — is survived by his wife, daughter, parents, and his three brothers.