James Crown, Billionaire & JPMorgan Director, Dies in Crash on His 70th Birthday
Written by Sanjay Kumar
- Born: 25 June 1953, Chicago, Illinois, United States
- Died: 25 June 2023
- Children: 4
- Education: Stanford Law School (1980), Hampshire College (1976), Stanford University
- Uncles: Robert Crown, John J. Crown
- Parents: Lester Crown
- Grandparents: Henry Crown, Rebecca Kranz
James Crown, an American businessman, billionaire investor, and longtime JPMorgan Chase director, passed away in a car racing accident in Colorado while celebrating his 70th birthday, according to CNN. The Colorado Sun reported that Mr. Crown was involved in a single-vehicle crash at Aspen Motorsports Park in Woody Creek, colliding with an impact barrier.
The Pitkin County Coroner’s Office stated in a news release that the official cause of death is pending autopsy, but evidence shows multiple blunt force trauma. The manner of death has been determined as an accident.
It is worth noting that Mr. Crown was a frequent visitor to Colorado ski country and his family owns the Aspen Skiing Co., which operates mountain and ski area facilities in Aspen.
A family spokesperson conveyed to the Aspen Times in a statement, “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.”
Mr. Crown served as the CEO and president of Henry Crown and Company, the investment firm owned by his family, from which he inherited his approximately $10.2 billion fortune. Founded in Chicago in 1919, the privately-held operation began as a family-owned building material business and grew into one of the largest privately held businesses and land developers in the United States, according to its website.
He also held director positions in various 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 attended the White House State Dinner honoring Prime Minister Narendra Modi.
Mr. Obama said he and his 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.
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