James Crown, a prominent businessman and philanthropist who was part of Chicago’s wealthy Crown family, passed away on June 25 after a car crash at a racetrack in Colorado at the age of 70.

Chicago Mayor Brandon Johnson shared a statement with CBS Chicago in response to the news of Crown’s death, telling the station that he was “devastated” when he heard about the crash. Crown was also remembered by President Joe Biden, who wrote, “Jim lived a great Chicago story — one that tied our nation’s industrious past to an ever-hopeful future.” 

Crown was the chairman and CEO of his family business, the investment firm Henry Crown and Company, and a JPMorgan board member. He was also recently actively involved in work to improve safety throughout Chicago for both businesses and their employees. Crown is survived by his wife, four children and his parents.