JPMorgan Chase CEO Jamie Dimon Privately Endorses Kamala Harris for President, a New York Times research has revealed.
The CEO has reportedly not made his stance publicly known because he fears Donald Trump will retaliate against people and companies who opposed his candidacy if he is elected next month.
Dimon, who is a registered Democrat, has been unusually quiet about his political leanings in recent months.
This had led some observers to speculate whether he had switched allegiance to the Republican candidate.
In January, he faced fierce backlash after telling the World Economic Forum in Davos, Switzerland, that Trump had been “more or less right” on some economic issues, such as tax cuts.
The CEO has reportedly not made his position public.
Dimon felt trapped and hurt by being linked to Trump’s agenda, according to the New York Times, and tried to walk back the statement, saying it reflected his respect for Americans who voted for the former president.
Dimon was then forced to publicly deny endorsing Trump earlier this month after the presidential candidate made a false claim on his social media site Truth Social.
‘I’m not endorsing anyone right now. I spend more time on politics. What is the policy that we need that can really help both the world, foreign policy and domestic policy?’ Dimon said through a spokesman at the time.
Privately, however, the 68-year-old made it clear that he supports Vice President Harris.
He would also reportedly consider a role, perhaps Treasury secretary, in his administration.
The banker, who has an estimated net worth of around $2.4 billion, has reportedly told associates that he considers Trump’s 2020 election denialism almost a disqualifying factor.
The New York Times spoke to Dimon’s “colleagues, friends, associates and rivals” for the report.
His public calm when it comes to the election has been noted both in Washington and on Wall Street, according to the report.
Dimon, who has been head of America’s largest bank for nearly two decades, has generally been outspoken on many issues, including immigration and economic inequality.
“With Jamie, it’s interesting because he presents himself as an important leader who transcends his own business needs,” Robert Reich, former Secretary of Labor in the Clinton administration, told the New York Times.
“If you were truly concerned about the nation and all the values you claim to be concerned about, not only would you not be supporting Trump, you would openly, angrily, and make sure with all your might that Trump does not get another chance at the White House.” .
Privately, Dimon has made clear that he supports Vice President Harris, according to a New York Times report.
Dimon was forced to publicly deny endorsing Trump earlier this month.
Both the Trump and Harris campaigns have reportedly sought Dimon’s public support. But none responded to The New York Times’ requests for comment.
In 2012, Dimon got into a dispute with Harris, then California’s attorney general, amid negotiations with a group of states over foreclosure abuses by big banks. Harris later recounted in his autobiography that the pair were like “dogs in a fight.”
But she reportedly called him this summer to get his take 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 himself, reportedly discussing it with JPMorgan subordinates and members of his family.
In private conversations with executives who support Harris, he reportedly said he has a duty to JPMorgan shareholders to protect the company from potential political retaliation, two people told the outlet.
Dimon declined to be interviewed for the article.
Joseph Evangelisti, a JPMorgan spokesman, said in a statement that the CEO “has never publicly endorsed a presidential candidate, but speaks strongly and often about policies to help strengthen our country and uplift communities.”
“His comments are often used as a weapon by the left or right when intervening in politics or politicians, which is not constructive in helping solve our country’s biggest problems.”