Founder of a £140m hedge fund, 70, is shot dead in his Manhattan apartment 'by his Princeton graduate son', 30, who is now on the run

The founder of a New York hedge fund has been shot dead by his 30-year-old son in their Manhattan apartment, police claim. Thomas Gilbert (pictured), who founded Wainscott Capital, died after Princeton University graduate Thomas Gilbert Jr (inset) allegedly fired a bullet into his head at 3.30pm. According to the New York Post, Gilbert Sr, who also went to Princeton, was in his bedroom when his son barged in. He was pronounced dead at the scene and police are racing to track down his son. Gilbert Sr attended Princeton and Harvard Business School before a 40-year career on Wall Street. His son, who goes by the name Tommy Gilbert, attended $50,000-a-year Deerfield Academy in Western Massachusetts, which counts the King of Jordan and Prince of Jordan among its alumni.