By Richard Kaufman
Sentinel Reporter
Devon Dalio, the son of Greenwich’s Ray Dalio, died in a car crash at the Riverside Commons Shopping Center on Thursday. He was 42.
Devon Dalio is survived by his wife and daughter, his parents and three siblings. He was the co-founder of the Greenwich private equity firm, P-Squared Management Enterprises, and a board member of the Dalio Foundation. He was co-CEO of the Dalio Family Office for eight years, and worked at Bridgewater Associates earlier in his career. His father, Ray Dalio, took to social media and confirmed his son’s passing.
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 (@RayDalio) December 19, 2020
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. May God be with you and may you cherish your blessings, especially at this time of year.
— Ray Dalio (@RayDalio) December 19, 2020
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.
When officials arrived on scene just before 4 p.m., the inside of the building was completely engulfed in smoke. Dangerous conditions prevented first responders from approaching the interior, but employees inside the store were able to escape unharmed.
The fire was eventually put out, and the scene was handed over to the Greenwich Police Department and the Connecticut State Police. The cause of crash, fire and death of Devon Dalio are still under investigation.
Gov. Ned Lamont, a Greenwich resident, released a statement offering his condolences to the Dalio family.
“Annie and I are devastated to hear the news of the sudden and tragic passing of Ray and Barbara Dalio’s son, Devon. As parents, we cannot imagine the grief and sadness of this loss. Our prayers are with Ray and Barbara, who have been champions for Connecticut children,” Lamont said.
In response to the COVID-19 pandemic earlier this year in March, Barbara and Ray Dalio and Dalio Philanthropies announced a $4 million donation in support of medical care and food for those who are most stressed and cannot afford it.
A total of $3 million dollars was directed toward the sponsorship of childcare services at 26 centers across the state for hospital workers. The funds helped to pay for childcare for eight weeks for approximately 1,066 children at facilities located in close proximity to the hospital where their parent worked.
Additionally, $1 million of the donation went toward food and nutrition for Connecticut residents in need. $500,000 was provided to Foodshare to purchase 14 trailers of food that was distributed across 64 sites statewide, which fed an estimated 35,000 people for 10 weeks. The remaining $500,000 was provided to the Connecticut Food Bank to distribute statewide.
First Selectman Fred Camillo issued a statement to the Greenwich Sentinel as well.
“Losing a family member, or someone close to us, at any time and in any manner, it’s always devastating. During this Christmas season, a time of joy, reflection, and hope, has now been marred for one family,” Camillo said. “The Town of Greenwich sends its heartfelt thoughts and prayers out to the Dalio family at this time. May God love Devon, and may He bless his family.”
