Bridgewater Associates founder Ray Dalio and his family were thrown into deep grief over the Christmas period after his son Devon was killed in a car accident.

The 71-year-old hedge fund billionaire tweeted of his pain a day after the tragic news, saying: “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.”