Jamie Dimon, the chief executive officer of JPMorgan Chase & Co., has been urged by some of his Wall Street peers to run for president in the next election after he hinted that he has considered pursuing a political career.
Bill Ackman, the billionaire founder of Pershing Square Capital Management, said in a lengthy tweet that Dimon is a "great American" who has the "courage, character, judgment and leadership skills" to be president¹. Ackman added that Dimon has a "unique understanding" of the economy, business, government, and foreign affairs and that he would have his "full support" if he decides to run.
Dimon, 67, said in a Bloomberg Television interview on Wednesday that he loves his country and that "maybe one day" he will serve it in one capacity or another. He did not specify what kind of public office he had in mind, but his comments sparked speculation about his potential presidential ambitions.
Dimon is among the most powerful and respected figures in corporate America. He has built a banking empire at JPMorgan Chase, the largest US bank by assets, and his advice is sought by presidents, prime ministers, and central bankers. He has also been outspoken on various public policy issues, such as immigration, infrastructure, education, and health care.
However, Dimon has also faced criticism and controversy for his role in the financial crisis of 2008-2009, when JPMorgan Chase received billions of dollars in government bailouts and acquired troubled rivals such as Bear Stearns and Washington Mutual. He has also clashed with regulators over the bank's risk management practices and paid billions of dollars in fines and settlements for various misconduct cases.
Dimon has repeatedly joked that he plans to remain atop JPMorgan Chase for five more years, no matter when he is asked. He has also been quick to shut down speculation of a presidential run that has cropped up periodically over the past decade. In 2018, he said he could beat Donald Trump in an election, saying he was "as tough" and "smarter" than him. Later that same day, he said he shouldn't have picked the fight and that he wasn't running for president.
Some analysts have questioned whether Dimon would have a realistic chance of winning the presidency, given his age, his Wall Street background and his moderate political views. He has described himself as a "patriotic Democrat" who is "barely" a Democrat⁴. He has also expressed frustration with both major parties and the political gridlock in Washington.
Still, some of his supporters believe that Dimon could appeal to a broad range of voters who are looking for a pragmatic and experienced leader who can tackle the economic and social challenges facing the country. They also point to his philanthropic efforts, such as the $500 million pledge to revitalize struggling US cities that he announced in 2018.
Dimon has not given any clear indication of his plans for the future, but he has said that he will continue to serve his country in some way. "I love what I do," he said on Wednesday. "I love helping Americans, for helping countries around the world."
