The Associated Press said that Devon Dalio, son of Ray Dalio, founder of Bridgewater Associates, an investment firm, died in a traffic accident in the United States.
The agency said that the accident occurred in the River Side area in Greenwich, Connecticut, on December 17th.
In detail, Devon was driving his car which broke into the sidewalk, then crashed into a store, and burst into flames. When the police arrived at the scene, the car was completely engulfed in flames.
The agency indicated that an investigation is still underway to determine the causes and circumstances of the accident.
The investment firm Bridgewater Associates is one of the ten largest hedge funds in the world.
In 2015, Ray Dalio ranked 18th in the list of the most powerful people in the world, according to a Bloomberg agency assessment. In April 2018, this businessman’s fortune was estimated at $ 17.4 billion.
Devon Dalio himself was a co-founder of the private equity firm P-Squared Management Enterprises.