James Crown dies in crash at Colorado racetrack

A prominent billionaire who owns the Aspen Skiing Company died on a racetrack on Sunday. James Crown is part of the Chicago Crown family.

The Pitkin County Coroner's Office says he was in a single vehicle crash at the Aspen Motorsports Park in Woody Creek. They say he hit the impact barrier and suffered blunt force trauma. But his official cause of death is still pending.

Crown was 70 years old.

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He was the chairman emeritus of the board of trustees of The Aspen Institute.

In a statement Monday, the institute mourned the loss of Crown: "The Aspen Institute is deeply saddened by the passing of our dear friend and former Board Chair Jim Crown. We love and admire Jim and the Crown Family. Jim was a friend to so many and a consequential member of our Board of Trustees. We mourn his passing and ask that the Crown family's privacy be respected at this time."