JPMorgan’s Billionaire CEO Didn’t Endorse Trump—Despite Trump Saying He Did

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President Trump Holds Policy Forum With Business Leaders

Former President Donald Trump, center, and JPMorgan Chase CEO Jamie Dimon, left, in 2017.

Donald Trump shared on social media Friday he scored a potentially pivotal endorsement from Jamie Dimon, the billionaire chief executive of the nation’s largest bank, JPMorgan Chase, but there’s one problem: The Wall Street titan has not endorsed Trump.


Key Facts

Trump posted to his Truth Social platform a screenshot of an X post claiming Dimon endorsed him ahead of next month’s presidential election.

But “Jamie has not endorsed a candidate,” Dimon’s spokesman Joe Evangelisti told Forbes (CNBC first reported Dimon’s denial).

It’s not immediately clear how the false rumor started, but posts on X sharing Dimon’s supposed backing began circulating at about 12 p.m. EDT and garnered as much as 50,000 likes.


Crucial Quote

“You guys can elect the president. We have to deal with it as a business,” Dimon said at a panel hosted by The Atlantic event last month.

Key Background

Dimon’s public record on Trump is mixed. “He was pro business, and it was good for business,” Dimon said last month about Trump’s policies during his 2017-2021 presidency, and he briefly served in an advisory role to Trump in 2017. But Dimon has rebuked Trump several times, including following the 2017 Charlottesville white supremacist rallies and after the 2021 Capitol riots. JPMorgan is by far the largest U.S. bank by assets and market value. Though Dimon, one of the most powerful bankers in the world, has avoided endorsing a candidate, in an August essay in the Washington Post he encouraged Americans to elect a “president who is dedicated to the ideals that define and unite us, and who is committed to restoring our faith in America and our indispensable role in the world.” Trump told Bloomberg in June he “would consider” making Dimon his Treasury Secretary, though he later denied making the comment.

Forbes Valuations

Both Dimon and Trump are among the richest people in the world, with Trump worth $4 billion as of our latest calculations and Dimon worth $2.3 billion.

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