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James Crown, a billionaire, dies in a race car accident.

James Crown, a millionaire businessman and member of the board at JPMorgan Chase, was killed in a racing accident on Sunday in Colorado.

The Colorado Sun said that Crown, who turned 70 on Sunday, was killed in a single-vehicle incident after hitting an impact barrier at Aspen Motorsports Park in Woody Creek, Colorado.

Crown was the head of the family business, the financial firm Henry Crown & Company, where he served as chairman and CEO. His board memberships include JPMorgan and General Dynamics, where he also served as a director. Crown’s tenure at JPMorgan began in the early 1990s, when he first joined the company’s board of directors.

JPMorgan Chase CEO Jamie Dimon released a statement in which he expressed his “deepest condolences” to Jim’s family and loved ones. “All of us here at the office are thinking about everyone who knew and loved Jim as much as I did. He played a crucial role at JPMorgan Chase and in our lives, and we will miss him.”

In a statement to the press, a family member expressed their “deep sadness” over Jim Crown’s unexpected death. During this trying period, the family asks that they be left alone.

Even though Crown’s primary residence was in Chicago, he spent a lot of time in Colorado, where he was also active in the community in many capacities. He served as a trustee for the Museum of Science and Industry, the Civic Committee, and the University of Chicago, in addition to being a managing partner at Aspen Skiing Co. Crown was nominated for a presidential intelligence advisory board by Barack Obama in 2014.

The collision is currently being looked into by local authorities.

Multiple blunt force trauma were observed, however the official cause of death will not be known until the autopsy is completed. According to a press release from the Pitkin County Coroner’s Office, the cause of death was “accidental.”

The Crown family is reportedly worth $10.2 billion in 2020, according to Forbes.

Crown’s family includes his wife, four kids, and both sets of parents.

Joe Biden, Vice President of the United States, expressed his sadness over the loss of Crown by calling him “a good man, a dear friend, and a great American.”

Jim’s life was a testament to the best of Chicago, bridging the gap between America’s hardworking history and its bright future. His grandfather worked in a sweatshop, and his great-grandfather’s son built a construction supplies business into a multibillion-dollar conglomerate. Jim carried on that legacy throughout his own career as a corporate and civic leader, inspiring excellence in his colleagues and contributing to the development of the city he cherished, according to Biden.

Last week, Crown welcomed Indian Prime Minister Narendra Modi to the White House for a State Dinner.

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