Billionaire hedge fund founder Ray Dalio says his family is 'mourning' after his 42-year-old son was killed in a car crash

• Ray Dalio thanked his followers on Twitter Tuesday for their support following the death of his 42-year-old son, Devon Dalio.
• Devon was killed in a car crash in Greenwich, Connecticut, on Thursday.
• Investigators on Tuesday were still trying to determine what caused the car to crash.
• "While I knew about the power of love I had no idea what a healing effect it would have," Ray Dalio, founder of Bridgewater Associates, wrote on Twitter.

On Tuesday, Ray Dalio, the founder and co-chief investment officer of Bridgewater Associates, thanked his social media followers on Twitter for their "caring and condolences" following the death of his son, Devon Dalio.

Devon, the son of the billionaire hedge fund founder, was killed in a car crash on the afternoon of December 17, a family spokesperson confirmed to the Connecticut Post.

In a tweet, Dalio said he and his family wished they "could personally thank each and everyone one of you who shared your caring and condolences for our loss." "While I knew about the power of love I had no idea what a healing effect it would have," Dalio wrote.

Devon, who was 42, was driving an Audi that crashed into a Verizon store in Greenwich, Connecticut, where it burst into flames, Greenwich police and Fire Chief Joseph McHugh told the Post. Investigators on Friday were still trying to determine what caused Dalio to crash.

His father shared the somber news in a tweet.

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"It is with great pain that I am sharing with you that my 42-year-old son was killed in a car crash yesterday," Dalio said. "My family and I are mourning and processing and would prefer to be incommunicado for the time being.

Devon, Ray and his wife Barbara's eldest son, was the cofounder and partner of the private-equity firm P-Squared Management Enterprises, according to his LinkedIn page. He is survived by a wife and daughter. He also served as a board member of his family's foundation, Dalio Philanthropies, and he was interested in supporting health, veterans, and animal welfare, a spokesperson told the Connecticut Post.

Read more: Billionaire Ray Dalio says America's jarring inequality is a 'national emergency' that is threatening capitalism

"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," Ray Dalio said in a subsequent tweet. "May God be with you and may you cherish your blessings, especially at this time of year."

The elder Dalio's tweet was met with an outpouring of support, and Connecticut Governor Ned Lamont said he and his wife were "devastated" by the news.

"As parents, we cannot imagine the grief and sadness of their loss," Lamont said in a statement to the outlet. "Our prayers are with Ray and Barbara, who have been champions for Connecticut's children."

This story was originally published on December 19.