Washington, DC

James Crown, a billionaire businessman who held many management roles such as board member of JPMorgan Chase, died Sunday in a racing incident in Colorado.

Crown, who also turned 70 on Sunday, died in the solitary-automobile crash immediately after colliding with an effects barrier at Aspen Motorsports Park in Woody Creek, Colorado, The Colorado Sunshine noted.

Among his several roles, Crown was chairman and CEO of his household company, the expenditure organization Henry Crown and Company. In addition to serving on the JPMorgan board, he was also a board director at General Dynamics. Crown had served on JPMorgan’s board given that the early 1990s.

“We increase our deepest condolences to Jim’s spouse and children and loved types through this unbelievably difficult time,” Jamie Dimon, CEO of JPMorgan Chase, said in a statement. “Our thoughts are also with all of you who understood and beloved Jim, as substantially as I did. He was an integral section of JPMorgan Chase and our lives, and his existence will be deeply skipped.”

“The Crown loved ones is deeply saddened by the unexpected passing of Jim Crown,” a loved ones representative reported in a statement to media. “The loved ones requests that their privateness be highly regarded at this tough time.”

Crown lived in Chicago but commonly traveled to Colorado, and he held supplemental positions at organizations in equally states. He was a handling partner of Aspen Skiing Co., chair emeritus of the Aspen Institute and a trustee at a few institutions: the Museum of Science and Field, the Civic Committee and the College of Chicago. In 2014, President Barack Obama appointed Crown to the President’s Intelligence Advisory Board.

Regional officials are at the moment investigating the crash.

“The formal result in of loss of life is pending autopsy even though multiple blunt drive trauma is evident. The manner is accident,” the Pitkin County Coroner’s Business office claimed in a information release.

Forbes believed the Crown family’s wealth at $10.2 billion in 2020.

Crown is survived by his wife, 4 little ones and his parents.

President Joe Biden mourned Crown’s death, contacting the businessman “a excellent male, a pricey buddy, and a good American.”

“Jim lived a excellent Chicago story – a person that tied our nation’s industrious earlier to an at any time-hopeful potential. He grew up the terrific-grandson of a sweatshop worker whose son turned a development-provide firm into an empire. All through his own occupation as a small business and civic leader, Jim continued to push that legacy forward, provide out the greatest in his friends, and assist form the metropolis he liked,” Biden wrote.

Crown attended the White House Point out Meal past 7 days honoring Indian Key Minister Narendra Modi.

By Sia