Will Turner and Elizabeth Swann in Pirates of the Caribbean (Image: Disney) READ MORE At the end of At World’s End, it looked as though Davy died as he fell into a powerful whirlpool, while Captain Jack and Will pierced his heart as he fell. This would suggest he did die, however his presence at the end of the film has most fans convinced he is definitely still alive. But one theory suggests he may not be alive in the way we first knew him, and it could be he lives through a son. In the third film, At World’s End, some of Davy’s past is shown and makes clear why he cut out his heart and buried it in the Dead Man’s Chest.