JPMorgan CEO Jamie Dimon said that he and Elon Musk have "hugged it out" and resolved their differences, going so far as to compare the billionaire to Albert Einstein.
"SpaceX, Tesla, Neuralink, I mean, the guy is our Einstein," Dimon told CNBC.
Newsweek reached out to Musk's press team for comment.
Why It Matters
Musk and Dimon have not always seen eye-to-eye, mainly around their views on technology and the future of the economy.
In 2021, JPMorgan filed a $162 million lawsuit against Telsa, arguing that the bank did not receive Tesla stock warrants to which it was allegedly entitled. In 2023, in court, Musk said, "JPMorgan hate(s) Tesla and me very much." He also called the companies' relationship "very negative."
In addition, tensions rose in 2017 when Dimon called Bitcoin a "fraud." Musk, a vocal proponent of cryptocurrency, criticized Dimon's stance.
Dimon was previously a Democrat but said in 2019 that his "heart is Democratic, but my brain is kind of Republican." Throughout the most recent presidential campaign, Dimon spoke up about how Trump was correct on certain issues, including his criticism of China. Musk has been ever more popular within the Republican Party.
What To Know
While at the World Economic Forum in Switzerland, Dimon told CNBC that he'd "like to be helpful to (Musk) and his companies as much as we can." Dimon added that he and Musk "hugged it out" and "settled some of our differences."
"He came to one of our conferences," Dimon said. "He and I had a nice, long chat. We settled some of our differences."
Musk has become an ever-growing presence in U.S. and global politics, frequently at the side of President Donald Trump, who has tapped him to lead the newly created Department of Government Efficiency (DOGE).
The SpaceX CEO recently urged lawmakers to vote down an original bipartisan spending bill and said any lawmaker who supported it should be voted out of office. He was also the center of the ongoing debate over the H-1B visa program. Musk, the world's richest man who has benefited from the H-1B program himself, wrote on X, formerly Twitter, that there are not enough "super talented" and "super motivated" engineers in the United States.
Musk also spoke at the Presidential Parade at Capital One Arena on Inauguration Day, where he thanked supporters for reelecting Trump and expressed his enthusiasm for the administration's goals.
Dimon's statements are just one of many as other billionaires speak more sympathetically toward Musk as his role with Trump grows. Amazon founder Jeff Bezos and Musk have recently shared posts about each other's rocket launches. Musk also shared a meme calling the two influencers "best friends."
The two were joined by Facebook cofounder Mark Zuckerberg and Google CEO Sundar Pichai at Trump's inauguration.
What People Are Saying
Investment strategist Shay Boloor, on X: "$JPM Jamie Dimon just called $TSLA Elon Musk the Einstein of our generation -- couldn't agree more."
Binance CEO Richard Teng, on X: "JP Morgan CEO Jamie Dimon said at Davos that Elon Musk is the Einstein of our era - Tesla, SpaceX and Neuralink....Well - Einstein understands and pushes forth crypto adoption."
Global marketing analyst Jesse Cohen, on X: "JPMorgan CEO Jamie Dimon says Elon Musk is our 'Einstein.'
'I mean, you gotta look at Elon. SpaceX, Tesla, Neuralink. I mean the guy is our Einstein.'
"Couldn't agree more."
What Happens Next
Musk's co-leader at DOGE, Vivek Ramaswamy, announced that he is leaving the department. Musk, who has already been taking a leading role in running DOGE, will continue to do so.
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