GREENWICH – The driver who died in an accident in Riverside Thursday was identified as Devon Dalio, son of Greenwich’s Ray and Barbara Dalio, a family spokesman confirmed Friday night.
“It is a heartbreaking tragedy and the family is in mourning,” the spokesman said.
Devon Dalio was 42 at the time of his death. He was the eldest son of Dalios and was the co-founder of P-Squared Management Enterprises, a privately held firm that focuses on small and medium market medical technology companies.
He is survived by a wife and daughter, his parents and three brothers.
Ray Dalio, who is the founder of the Westwater Bridgewater Associates hedge fund, is considered by many to be the richest resident in Connecticut.
Governor Ned Lamont, also a Greenwich resident, said he and his wife Annie were “devastated” when they learned of Devon Dalio’s death on Thursday.
“As parents, we cannot imagine the pain and sadness of losing them,” Lamont said in a statement released through his office. “Our prayers are with Ray and Barbara, who were champions for the children of Connecticut.”
Devon Dalio was CEO of the Dalio Family Office for eight years before founding his private equity firm. He was also employed at Bridgewater Associates. Dalio was a board member of the family foundation, Dalio Philanthropies. According to the spokesman, his philanthropic interests include health and welfare, support for veterans, disaster relief and animal welfare.
On Thursday afternoon, the 2016 Audi driven by Devon Dalio crashed into the Verizon store in the Riverside Commons Mall on East Putnam Avenue, near Exit 5 of Highway 95.
The gas tank probably broke when the car entered the store, causing the car to explode, fire chief Joseph McHugh said Friday afternoon.
On Friday, investigators were still working to determine what caused Dalio to collapse in the store, said Mark Zuccerella, the public intelligence officer for the Greenwich Police Department. The car went over a parking lane and set up a curb before hitting the doors and entering the store completely.
Police arrived at the scene at about 3:50 p.m. Thursday. Zuccerella said the store was “completely smoky,” which prevented officers from approaching the interior.
Store employees were able to leave the store unharmed, according to police.
The Greenwich Fire Department contained the fire, extinguishing it before causing further damage to the mall.
The Verizon store was largely destroyed and closed. Greenwich Medical Spa, located next to the Verizon store, was also closed on Friday. No information was immediately available on when it will reopen.