The son of the owner of the world’s largest hedge fund died Thursday after his car collided with a Verizon store in Greenwich, Cannes, officials said.

Devon Talio, 42, is the son of Raymond Talio, 71, the billionaire founder of Bridgewater Associates, a hedge fund he founded in 1975.

Talio’s Audi crashed into a Verizon store in a shopping center Thursday afternoon and caught fire. Police are still investigating the cause of the crash that nearly destroyed the store Associated Press.

Talio crossed a parking strip, lit a curb before hitting the doors, and went to the store. Police told Greenwich Time.

When police arrived at the scene, the store was engulfed in smoke. Greenwich police said the car’s gas tank may have been damaged as the car entered the store. The staff was able to leave unharmed.

According to his LinkedIn page, Talio was a co-founder / shareholder in P-Square Private Equity and a former project manager at his father’s company. He graduated from Lafayette College.

Ray Talio Said in a tweet His family was “in mourning and in the process and did not want to be contacted for the time being.”

Following a second tweet from Talio:

“We know that the terrible pain we feel is still felt by many, so our sympathies go to them. May God be with you, and may you honor your blessings especially at this time of year.”

In addition to his father and mother Barbara, Devon Talio has a wife, daughter and three brothers.

“Annie and I are devastated to hear the sudden and sad news of Devon, the son of Ray and Barbara Talio,” a family friend of Connecticut Gov. Net Lamond said in a statement Friday. “As parents, we can’t imagine the grief and sadness they lost. Our prayers are with Ray and Barbara, who were champions for the children of Connecticut.”