Chicago billionaire, James Crown. died in Colorado from a race track incident. He was 70 years old and had just announced plans to recruit fellow CEOs to help fight violent crime. Crown died while driving on a racetrack outside of Aspen.
He was the chairman and chief executive officer (CEO) of the family business, Henry Crown & Co. Additionally, he was the managing partner of Aspen Skiing Co.
What Happened?
For his 70th birthday, which was on Sunday, Crown decided to visit Aspen Motorsports Park in Woody Creek, Colorado. His father, Lester Crown, stated he had been driving a race car when “it hit a wall going around a curve.”
The Chicago businessman’s death was called an accident by the Pitkin County coroner’s office. However, the official report has not been released. Moreover, the coroner’s office said that Crown suffered from multiple blunt-force trauma.
His father said there was “no finer human being” than his son. Governor JB Pritzker stated that Crown was “Tremendously civic-minded,” in a tweet. He also described him as “kind” adding “his passion for caring was unending.” Both Pritzker and MK were sad to hear of their friend’s passing.
His Early Years
The Chicago native was born James Schine Crown in 1953. His grandfather, industrialist Henry Crwon, founded Material Service Corp. in 1919. Later, the company merged with aerospace and defense firm General Dynamics. His father, Lester, has been a longtime civic leader in the city.
In 1976, the Chicago billionaire earned a bachelor’s degree in political science from Hampshire College in Massachusetts. Four years later, he left Stanford Law School with a law degree. Afterward, he spent five years working for a New York investment bank, Salomon Brothers. Then, he returned to Chicago to work in his family’s investment firm.
In 2003, he became Henry Crown & Co.’s chairman and CEO allowing him to oversee his family’s fortune and the company’s investments. Additionally, he served on the boards of several major corporations, including Sara Lee Corp. at one point. He was on the board of JPMoragn Chase & Co. at the time of his death. Crown was the bank’s largest insider owner, with a $1.72 billion stake, according to recent filings data.
In addition to his parents, he is survived by his four children (Torie, Hayley, Summer, and W. Andrew), four sisters (Patricia, Susan, Janet, and Sara Crown Star), two brothers (Steven and Daniel), and two grandchildren. Moreover, he has left behind many dear friends.
By Sheena Robertson
Sources:
Chicago Tribune: James Crown, scion of one of Chicago’s leading philanthropic families, dies in Colorado motorsports park accident at 70
Chicago Sun-Times: James Crown dead in Colorado race track accident at 70; Chicago billionaire had just announced plans to enlist CEOs to fight violent crime
Top and Featured Image Courtesy of Thomas Hawk‘s Flickr Page – Creative Commons License
Inset Image Courtesy of Michael Lucas‘ Flickr Page – Creative Commons License
