US Billionaire & JP Morgan Board Member James Crown Dies In Tragic Racecar Crash On His 70th Birthday

James 'Jim' Crown, a prominent businessman, socialite, and member of the billionaire Crown family, passed away on Sunday in a crash at the Aspen Motorsports Park in Woody Creek. The 70-year-old was involved in a collision with an impact barrier at the member-owned country club motorsports park, resulting in multiple blunt force trauma. The official cause of death is pending autopsy, but authorities have classified it as an accident.

Investigation and Authorities' Response

The Pitkin County Coroner's Office, along with the Pitkin County Sheriff's Office and the Colorado State Patrol, is conducting an investigation into the crash. The State Patrol was called to the scene at approximately 2:45 p.m. However, due to the ongoing investigation, further details have not been released at this time.

Accomplishments and Connections

At the time of his untimely death, James Crown, a Chicago resident who frequently visited Colorado, held several prominent positions. He served as the chairman emeritus of the board overseeing the Aspen Institute, which is currently hosting the Aspen Ideas Festival. Additionally, Crown was a managing partner of Aspen Skiing Co. and had notable roles as a director of General Dynamics Corp. and JPMorgan Chase.

Crown's close ties to former President Barack Obama earned him recognition as a member of Obama's 'inner circle' by NBC News. In 2014, Crown was appointed by Obama to serve on his intelligence advisory board, and First Lady Michelle Obama stayed at Crown's Aspen residence during a ski vacation.

Legacy and Contributions

The Crown family's involvement in Aspen Skiing Co. began in 1985 when they purchased half of the company, eventually acquiring full ownership in 1993. In 2017, they partnered with KSL Capital Partners to establish Alterra Mountain Co.

Notably, Aspen Skiing Co. expanded into the hospitality sector, launching Limelight Hotels in Aspen, Snowmass, Denver, and Ketchum, Idaho. In 2021, Aspen Skiing Co. introduced the Aspen X brand, featuring branded retail and apparel, which was partly developed by James Crown's wife, Paula.

A Statement from Aspen Skiing Co. and Memorial Plans

Aspen Skiing Co. released a statement expressing deep sadness over Jim Crown's sudden passing and requesting privacy for the family during this difficult time. Plans for a memorial to honour his remarkable life will be announced at a later date. Crown is survived by his wife, four children, and his parents. The Aspen Daily News reported that Sunday marked Crown's 70th birthday, making the tragedy even more poignant.