James Crown, a billionaire businessman who held a few influential positions including board member of JPMorgan Chase, has passed. He died on June 25 in Colorado, USA, in a racing accident.
According to reports, Crown, who also turned 70 on that fateful Sunday, died in the one-vehicle collision at Aspen Motorsports Park in Woody Creek, Colorado, after hitting an impact barrier.
Among his numerous roles, Crown was the chairman and CEO of his privately-owned company, the investment firm Henry Crown and Co.. As well as serving on the JPMorgan board, he was also a board director at General Dynamics. Crown had been on the board of JPMorgan since the early 1990s.
During this extremely difficult time, sincere condolences have been sent to Jim’s family and loved ones. According to a statement that was made public by the company, James Crown will be greatly missed. He was an integral part of JPMorgan Chase as well as their lives.
“The Crown family is deeply saddened by the sudden passing of Jim Crown,” a family representative said in a statement to media. “The family requests that their privacy be respected at this difficult time.”
Crown lived in Chicago but frequently traveled to Colorado, and he held additional positions at organizations in both states. He was a managing partner of Aspen Skiing Co., chair emeritus of the Aspen Institute and a trustee at three institutions: the Museum of Science and Industry, the Civic Committee and the University of Chicago.
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Crown was appointed to the President’s Intelligence Advisory Board by President Barack Obama in 2014.
Although multiple blunt force trauma is evident, the official cause of death is still pending autopsy, according to a news release from the Pitkin County Coroner’s Office.
In 2020, Forbes estimated that the Crown family was worth $10.2 billion.
Crown left behind his wife, four children, and parents.
His death was mourned by President Joe Biden, who described the businessman as “a good man, a dear friend, and a great American.”
“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.
