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3mo ago

Jamie Dimon and Elon Musk Reconcile After Years of Conflict

The JPMorgan Chase CEO praised Musk as 'our Einstein' and expressed a desire to support his companies after resolving their longstanding legal and personal disputes.

Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co., listens during a Senate Banking, Housing, and Urban Affairs Committee oversight hearing to examine Wall Street firms on Capitol Hill, Wednesday, Dec. 6, 2023 in Washington. Elon Musk arrives on stage to speak at an indoor Presidential Inauguration parade event in Washington, Monday, Jan. 20, 2025.
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Overview

  • Jamie Dimon revealed that he and Elon Musk have 'hugged it out' and settled their differences during a conversation at a JPMorgan conference in March 2024.
  • Dimon described Musk as 'our Einstein,' praising his work at Tesla, SpaceX, and Neuralink, and expressed willingness to support Musk and his companies moving forward.
  • The reconciliation follows years of tension, including a 2021 lawsuit where JPMorgan sued Tesla for $162 million over a stock warrant dispute, which was dropped in late 2024 after a settlement.
  • Musk now plays a significant role in President Donald Trump's administration as head of the Department of Government Efficiency (DOGE), focused on modernizing federal systems and reducing inefficiencies.
  • Dimon expressed support for Musk's government role, emphasizing the need for accountability and efficiency in federal operations.