Overview

• Speaking in Dublin on July 10, JPMorgan CEO Jamie Dimon labeled Zohran Mamdani “more a Marxist than a socialist” and urged voters to reject him.
• Dimon attacked Democratic diversity, equity and inclusion initiatives, calling their backers “idiots” with “big hearts and little brains.”
• The Wall Street Journal reports that New Yorkers for a Better Future Mayor 25 has been formed to raise $20 million to oppose Mamdani in the general election.
• Mamdani has responded by agreeing to attend a Partnership for New York City forum, whose board includes Dimon, in an effort to bridge the divide.
• Earlier this year, JPMorgan and several major banks removed DEI language from their websites following legal challenges and political pressure.