JPMorgan Chase CEO Jamie Dimon is privately backing Kamala Harris for president New York Times research has shown.
The CEO has reportedly not made his position public because he fears Donald Trump will retaliate against people and companies who opposed his election if he is elected next month.
Dimon, a registered Democrat, has been unusually quiet about his political leanings in recent months.
This had led some onlookers to speculate whether he had switched his allegiance to the Republican candidate.
In January, he faced strong backlash after saying at the World Economic Forum in Davos, Switzerland, that Trump had been “more or less right” on certain economic issues, such as tax cuts.
The CEO reportedly has not publicly stated his position
Dimon felt trapped and hurt by being tied to the Trump agenda, according to the New York Times, and tried to backtrack on the statement, saying it reflected his respect for the Americans who voted for the former president.
Dimon was then forced to publicly deny that he had endorsed Trump earlier this month, after the presidential candidate made the false claim on his social media site Truth Social.
‘Right now I don’t support anyone. I spend more time on policy. What policies do we need that can really help the world, foreign policy and domestically?,” Dimon said through a spokesperson at the time.
Privately, however, the 68-year-old has made it clear that he supports Vice President Harris.
He is also reportedly considering a role, perhaps as finance minister, in her government.
The banker, who has an estimated net worth of about $2.4 billion, has reportedly told associates that he views Trump’s denial of the 2020 election as almost a disqualifying factor.
The New York Times spoke to Dimon’s “colleagues, friends, associates and rivals” for the report.
His public silence on the election issue has been noted in both Washington and Wall Street, according to the report.
Dimon, who has been chief of the largest bank in the US for nearly two decades, has typically been vocal on many issues, including immigration and economic inequality.
“With Jamie, it’s interesting because he’s positioning himself as an important leader who transcends his own business needs,” Robert Reich, a former secretary of labor in the Clinton administration, told the New York Times.
“If he really cared about the nation and all the values he says he cares about, not only would he not support Trump — he would do everything in his power to keep Trump out of trouble. another crack in the White House.”
According to a New York Times report, Dimon has privately made it clear that he supports Vice President Harris
Dimon was forced to publicly deny that he had supported Trump earlier this month
Both the Trump and Harris campaigns have reportedly sought Dimon’s public support. But neither responded to The New York Times’ requests for comment.
In 2012, Dimon had a dispute with Harris, then California’s attorney general, amid negotiations with a group of states over big bank abuses. Harris later said in her autobiography that the pair were like “dogs in a fight.”
But she reportedly called him this summer to get his opinion on issues like economic inequality.
Two anonymous people told the New York Times that Dimon has also flirted with the idea of running for office, reportedly by discussing it with JPMorgan subordinates and family members.
In private conversations with executives who support Harris, he reportedly said he has a duty to JPMorgan shareholders to protect the company from possible political retaliation, two people told the newspaper.
Dimon declined to be interviewed for the article.
Joseph Evangelisti, a spokesman for JPMorgan, said in a statement that the CEO “has never publicly endorsed a presidential candidate, but he speaks out strongly and often on policies to help strengthen our country and uplift communities.”
“His comments are often weaponized by the left or right as he engages in politics or politicians, which is not constructive in helping solve our country’s biggest problems.”