A racing accident in Colorado on Sunday claimed the life of James Crown, a billionaire businessman who served in a number of executive positions, including board member of JPMorgan Chase.
Crown, who turned 70 on Sunday as well, died in the single-vehicle accident at Aspen Motorsports Park in Woody Creek, Colorado after hitting an impact barrier, according to reports.
Among his many positions, Crown held the titles of chairman and CEO of Henry Crown and Company, his family-owned investment company.
He was a director on the General Dynamics board in addition to the JPMorgan board. Crown had been a board member of JPMorgan since the early 1990s.
Jamie Dimon, CEO of JPMorgan Chase, issued a statement saying, “we extend our deepest condolences to Jim’s family and loved ones during this incredibly difficult time.”
“Our thoughts are also with all of you who knew and loved Jim, as much as I did. He was an integral part of JPMorgan Chase and our lives, and his presence will be deeply missed.”
In a statement to the media, a family representative said, “the Crown family is deeply saddened by the sudden passing of Jim Crown. The family asks for their privacy to be respected during this trying time.”
Local authorities are looking into the collision.
According to a news release from the Pitkin County Coroner’s Office, the manner was accidental.
“The official cause of death is pending autopsy although multiple blunt force trauma is evident.”
In 2020, Forbes estimated the Crown family’s wealth at $10.2 billion.
Crown is survived by his wife, four children and his parents.
Crown was a “good man, a dear friend, and a great American,” President Joe Biden said in a statement following Crown’s passing.
“Jim lived a great Chicago story – one that tied our nation’s industrious past to an ever-hopeful future. He grew up the great-grandson of a sweatshop worker whose son turned a construction-supply company into an empire. Throughout his own career as a business and civic leader, Jim continued to drive that legacy forward, bring out the best in his peers, and help shape the city he loved,” Biden wrote.
Source-CNN
