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JPMorgan CEO Jamie Dimon has hinted that he will consider entering politics once he leaves the bank.
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Bill Ackman, Warren Buffett, Bill Clinton and Ross Perot Jr. have praised Dimon’s political potential.
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Here’s what they said about the billionaire banker.
JPMorgan CEO Jamie Dimon hinted this week that he would consider entering politics once his banking career is over. Billionaire investor Bill Ackman was quick to suggest he should run for President of the United States.
This is not the first time that the billionaire banker has had the idea of running for a job. There has been speculative chatter on Wall Street about a Dimon presidential run — or political involvement at least — for years.
“Obviously it crossed my mind because people mention things and things like that to you,” Dimon told Bloomberg TV on Wednesday when asked if he would consider public service or accept a position within the firm.
“I love my country, and maybe one day I will serve my country in some capacity,” he said.
In 2018, New York Times columnist Andrew Ross Sorkin discussed the prospect of Dimon’s entry into politics, noting that the CEO’s annual letters were peppered with his thoughts on American politics.
It should be noted, however, that at JPMorgan’s Investor Day last week, Dimon pointed out that he plans to stay put for another three and a half years.
Here are some of the comments made about Dimon’s presidential potential by elite investors and a former president over the years:
1. Bill Acman
Bill Ackman, a billionaire investor and head of Pershing Square, approved Dimon Wednesday as the “exemplary business, financial and global leader” needed to run the country, and said he couldn’t imagine a better time for Dimon.
He also listed the JPMorgan boss as his preferred presidential pick in March.
“My favorite version of events is Jamie Dimon, actually. Believe it or not, a banker. I would like a globally recognized, respected, talented business builder who understands economics, who understands geopolitics, who maintains relationships with business leaders around the world,” Ackman said during an episode of the 20VC podcast.
“I would like a better version of Trump, a better business leader to run for office, and I think they could absolutely get the Democratic nomination,” he added.
2.Bill Clinton
Bill Clinton, the former US President, once said he could see a future for Dimon in politics.
“If he decides to leave the bank, I think he would be really good at politics,” Clinton said in 2011, according to Reuters.
3.Warren Buffett
Warren Buffett, the famous investor and CEO of Berkshire Hathaway, expressed his confidence in Dimon as a public servant. The JPMorgan chief would be his pick for the Treasury secretary job, he said in 2012, because “world leaders would trust him”.
“If we ran into any problems in the markets, I think he would actually be the best person you could have in that role,” Buffett said.
Buffett is a longtime admirer of Dimon. He once defended the billionaire banker’s salary, noting he would pay him more to work at Berkshire.
4. Ross Perot Jr.
Ross Perot Jr., chairman of the Perot Group and Hillwood real estate company, called Dimon an “incredible man” and a “great patriot.” Her father, Ross Perot, ran for president twice and was one of the most popular third-party candidates, winning 19% of the vote.
“If he entered politics it would be good for our country and I encourage him to do so. But I also like that he leads JPMorgan. Jamie has two good options. He can serve the country by leading JPMorgan or by running for president. He’s doing a great job at JPMorgan and he’d make a great president,” Perot Jr. told Bloomberg TV on Wednesday.
5. Jamie Dimon
At a conference in 2018, Dimon reportedly toyed with the idea of campaigning against then-President Donald Trump.
Dimon suggested he was “as tough as he is” and “smarter” than the real estate mogul. He backtracked on the remarks soon after, noting that a comment like that was proof he wouldn’t be a good politician, Reuters reported.
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