October 2, 2023

Bill Ackman wants Jamie Dimon to run for president. Here’s what Warren Buffett, Bill Clinton and others have said about the JPMorgan chief’s political potential.

jamie demon

Jamie Dimon.Yuri Gripas/Reuters; Samantha Lee/Business Insider

  • JPMorgan CEO Jamie Dimon hinted that he would consider going into politics once he leaves banking.

  • Bill Ackman, Warren Buffett, Bill Clinton and Ross Perot Jr. have praised Dimon’s political potential.

  • This is 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 promptly suggested that he run for president of the United States.

It is not the first time that the billionaire banker has toyed with the idea of ​​looking for a position. There has been speculation on Wall Street for years about a Dimon presidential run — or at least political involvement.

“Obviously I was thinking about it because people say things to you and things like that,” Dimon told Bloomberg TV on Wednesday when asked if he would consider running for public office or accepting a cabinet position.

“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 entering politics, noting that the CEO’s annual letters were peppered with his thoughts on U.S. policy.

It’s worth noting, however, that Dimon emphasized at JPMorgan’s investor day last week that he plans to stay for another three and a half years.

Here are some comments made by elite investors and a former president over the years about Dimon’s presidential potential:

1. Bill Ackman

Bill Ackman, a billionaire investor and the chief executive of Pershing Square, endorsed Dimon on Wednesday as the “exemplary business, finance and world leader” needed to run the country, saying he couldn’t imagine a better time for Dimon to run.

He also praised the JPMorgan boss as his favorite March presidential pick.

“My favorite version of events is actually Jamie Dimon. Believe it or not, a banker. I would like a globally recognized, respected, talented business builder who understands economics, who understands geopolitics, who has relationships with business leaders worldwide,” said Ackman during an episode of the 20VC podcast.

“I would like a better version of Trump, a better business leader to run for, and I think they can absolutely get the Democratic nomination,” he added.

2 Bill Clinton

Former US President Bill Clinton once said that he saw a future for Dimon in the political field.

“If he decides to get out of banking, I think he would be very good in politics,” Clinton told Reuters in 2011.

3.Warren Buffett

Warren Buffett, famed investor and CEO of Berkshire Hathaway, has expressed confidence in Dimon as a public servant. JPMorgan’s chief would be his choice as Treasury Secretary, he said in 2012, because “world leaders would have confidence in him”.

“If we got into trouble in markets, I think he would actually be the best person you could have in the job,” Buffett said.

Buffett has been a longtime admirer of Dimon. He once defended the billionaire banker’s salary, noting that 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 a “great 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 goes into politics it would be good for our country and I encourage him to do it. But I also like that he runs JPMorgan. Jamie has two good options. He can serve the country by running JPMorgan or run for president. He’s doing a great job at JPMorgan and he would make a great president,” Perot Jr. said. Wednesday on Bloomberg TV.

5.Jamie Dimon

At a conference in 2018, Dimon reportedly toyed with the idea of ​​campaigning against Donald Trump, who was president at the time.

Dimon suggested that he was “tough as he is” and “smarter” than the real estate mogul. He returned to those remarks shortly afterwards, noting that such a remark was proof that he would not be a good politician, Reuters reported.

Read the original article on Business Insider

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