James Crown, Billionaire Investor And JPMorgan Director, Dies In Race Car Crash

James Crown, an American businessman, billionaire investor, and longtime JPMorgan Chase director, died Sunday in a car racing accident in Colorado while celebrating his 70th birthday, CNN reported. As per The Colorado Sun, Mr. Crown died in the single-vehicle crash after colliding with an impact barrier at Aspen Motorsports Park in Woody Creek.

“The official cause of death is pending autopsy although multiple blunt force trauma is evident,” the Pitkin County Coroner's Office said in a news release. His manner of death has been ruled as an accident.

Notably, Mr Crown was a frequent visitor to Colorado ski country and his family owns the Aspen Skiing Co., an operator of mountain and ski area facilities based in Aspen. 

''The Crown family is deeply saddened by the sudden passing of Jim Crown. The family requests that their privacy be respected at this difficult time. Further details regarding plans for a memorial to remember Jim's remarkable life will be released at a later date,''  a family spokesperson told the Aspen Times in a statement. 

Mr. Crown was the CEO and president of his family's business, the investment firm Henry Crown and Company, from which he inherited his roughly $10.2 billion fortune. Founded in Chicago in 1919, the privately-held operation started as a family-owned building material business. "Through hard work and perseverance," the company grew into one of the largest privately held businesses and land developers in the United States, according to its website. 

He was also a director of several companies including JPMorgan, General Dynamics, and Sara Lee.  In 2014, President Barack Obama appointed Crown to the President's Intelligence Advisory Board. Last week, he also attended the White House State Dinner last week honouring Prime Minister Narendra Modi.

Mr Obama said he and wife Michelle were heartbroken over his death. He tweeted, ''Jim Crown was a pillar of Chicago who cared deeply about making our city a place where everybody can thrive. Michelle and I were also very lucky to call him a dear friend. We're heartbroken today, and we send our love to Paula and their wonderful family in this difficult time.''

Jim Crown was a pillar of Chicago who cared deeply about making our city a place where everybody can thrive. Michelle and I were also very lucky to call him a dear friend. We're heartbroken today, and we send our love to Paula and their wonderful family in this difficult time. pic.twitter.com/IWLLd1IYtF

— Barack Obama (@BarackObama) June 26, 2023

“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,” Jamie Dimon, CEO of JPMorgan Chase, said in a statement. 

Mr. Crown is survived by his wife, four children, and his parents.