[ad_1] A billionaire businessman has been killed in a tragic high-speed racing accident on the day of his 70th birthday. James Crown, an American bi
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A billionaire businessman has been killed in a tragic high-speed racing accident on the day of his 70th birthday.
James Crown, an American billionaire, businessman and socialite, died on Sunday in a racing accident in the US state of Colorado.
Mr Crown, who turned 70 on the day of his death, was killed in the single-vehicle crash after missing a turn and colliding with an impact barrier at Aspen Motorsports Park in Woody Creek.
Colorado officials are currently investigating the crash.
An autopsy ruled the cause of death to be multiple blunt force trauma, according to Pitkin County Coroner’s Office, who said Mr Crown’s death was an accident.
The Crown family’s wealth was estimated in 2020 to be upwards of A$15.2 billion.
Mr Crown was set to inherit the fortune from his father, Lester Crown, 98.
The wealth stems from his grandfather, Henry Crown, who was raised by Lithuanian-Jewish immigrant parents who worked in a sweatshop and grew up to own the Empire State Building.
Among his many roles, Mr Crown was chairman and CEO of his family business, the investment firm Henry Crown and Company.
Mr Crown also served on the board of JPMorgan Chase for three decades.
“We extend our deepest condolences to Jim’s family and loved ones during this incredibly difficult time,” Jamie Dimon, CEO of JPMorgan Chase, said in a statement.
“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.”
A family representative said they were “deeply saddened” by Mr Crown’s sudden passing.
“The family requests that their privacy be respected at this difficult time,” a statement said.
Mr Crown lived in Chicago, Illinois, but frequently travelled to Colorado for work and leisure. He was a managing partner of Aspen Skiing, chair emeritus of Aspen Institute and a trustee at three institutions: the Museum of Science and Industry, the Civic Committee and the University of Chicago.
In 2014, then-president Barack Obama appointed Mr Crown to the President’s Intelligence Advisory Board.
President Joe Biden mourned Mr Crown’s death, calling him “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,” Mr Biden wrote.
“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.”
Mr Crown attended the White House State Dinner last week honouring Indian prime minister Narendra Modi.
Chicago Mayor Brandon Johnson said he was “devastated” when he heard the news of Mr Crown’s death.
“A lifelong Chicagoan, Jim gave back to the city through philanthropy and leadership on a number of civic and academic boards as he was deeply committed to investing in Chicago and its people,” Johnson said.
“With his generosity, Jim truly embodied the soul of Chicago. I was especially grateful for his commitment to work collaboratively with my administration to build a safer Chicago, having met recently to share ideas. I send my deepest condolences to his wife, four children, grandchildren, and the entire Crown family and pray for their peace.”
Mr Crown is survived by his wife, four children and his parents.
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