JPMorgan CEO Jamie Dimon has indicated that he would consider entering politics once he leaves banking.
Bill Ackman, Warren Buffett, Bill Clinton and Ross Perot Jr. have all praised Dimon's political potential.
Here's what they said about the billionaire banker.
Jamie Dimon, CEO of JPMorgan, hinted this week that he would consider entering politics after retiring from banking. Billionaire investor Bill Ackman promptly suggested that he should run for US President.
It's not the first time the billionaire banker has considered running for office. There have been speculative rumors on Wall Street for years about a Dimon presidential bid — or at least political involvement.
“Obviously it came to my mind because people bring things up to you and things like that,” Dimon told Bloomberg TV on Wednesday when asked if he would consider public office or accept a cabinet job.
“I love my country and maybe one day I will serve my country in one capacity or another,” he said.
Back in 2018, New York Times columnist Andrew Ross Sorkin discussed the prospect of Dimon entering politics, noting that the CEO's annual letters were peppered with his thoughts on American politics.
However, it's worth noting that during JPMorgan's investor day last week, Dimon stressed that he plans to remain in office for another three-and-a-half years.
Here are some of the comments that elite investors and a past president have made about Dimon's presidential potential over the years:
Bill Ackman, a billionaire investor and CEO of Pershing Square, approved Dimon on Wednesday called him the “exemplary economic, financial and global leader” needed to lead the country and said he couldn't think of a better time for Dimon to run.
He also referred to the JPMorgan chief as his preferred presidential pick in March.
“My favorite version of events is actually Jamie Dimon. Believe it or not, a banker. I would like to have a globally recognized, respected, talented business builder who understands business, who understands geopolitics, who has relationships with business leaders around the world,” Ackman said during an episode of the 20VC podcast.
“I'd like to see a better version of Trump, a better business leader running for office, and I think they could very well 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 the political arena.
“If he decides to get out of banking, I think he'd be really good at politics,” Clinton said in 2011, according to Reuters.
Warren Buffett, the famed investor and CEO of Berkshire Hathaway, has signaled his confidence in Dimon as an official. The JPMorgan chief was his choice for Treasury Secretary, he said in 2012, because “world leaders would have confidence in him.”
“If we were actually having trouble in the markets, I think he would actually be the best person to have for the job,” Buffett said.
Buffett is a longtime admirer of Dimon. He once defended the billionaire banker's salary, saying he would pay him more to work at Berkshire.
4. Ross Perot Jr.
Ross Perot Jr., chairman of the Perot Group and real estate firm Hillwood, called Dimon an “amazing man” and “great patriot.” His father, Ross Perot, ran for president twice and was one of the most popular third-party candidates, receiving 19% of the vote.
“If he went into politics it would be good for our country and I encourage him to do so. But I also like it when he runs JPMorgan. Jamie has two good choices. He can serve the country by running JPMorgan or filling in for the presidency. He is.” “He's doing great at JPMorgan and would be a great president,” Perot Jr. told Bloomberg TV on Wednesday.
Dimon reportedly toyed with the idea of campaigning against then-President Donald Trump during a 2018 conference.
Dimon said he's “as tough as he is” and “smarter” than the real estate tycoon. He backtracked shortly after, saying a comment like that was proof he wasn't a good politician, Reuters reported.
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