James “Jim” Crown, a billionaire entrepreneur, tragically passed away on his 70th birthday in a car racing incident at a motorsports facility in Colorado. According to the Colorado Sun, Crown, renowned for his roles as a board member at JPMorgan and General Dynamics, lost his life when his vehicle collided with a protective barrier at Aspen Motorsports Park in Woody Creek, as confirmed by the local coroner.
“The official cause of death is pending autopsy although multiple blunt force trauma is evident. The manner is an accident,” according to a press statement from the Pitkin County Coroner’s Office.
Crown, who inherited a substantial fortune of approximately $10.2 billion, held the positions of CEO and president at Henry Crown and Company, his family’s investment firm. Additionally, he took on the role of managing partner at Aspen Skiing Co. and divided his time between his primary residence in Chicago and Colorado. Crown had been a board member at JPMorgan since the early 1990s.
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,” in a statement, Jamie Dimon, the Chief Executive Officer of JPMorgan Chase, expressed.
In 2014, Crown was appointed to the Intelligence Advisory Board of the administration by former President Barack Obama, who regarded him as a close and cherished friend. On Monday, Obama released a statement expressing his deep sorrow, alongside his wife Michelle, regarding Crown’s tragic passing.
Crown actively participated in civic affairs in both Chicago and Colorado. He held the position of chair emeritus at the Aspen Institute and served as a trustee for the Museum of Science and Industry, the Civic Committee, and the University of Chicago. Crown is survived by his wife, Paula, along with their four children, multiple grandchildren, and his parents.