Jamie Dimon and Elon Musk Mend Fences, Express Support for Department of Government Efficiency
JPMorgan Chase CEO Jamie Dimon and business magnate Elon Musk have resolved their long-standing feud. Dimon revealed to CNBC that they have "hugged it out" and settled some of their differences.
Musk visited a JPMorgan tech summit in March, where he discussed matters with Dimon. Dimon praised Musk, referring to him as "our Einstein."
Regarding the Department of Government Efficiency (DOGE) led by Musk, Dimon expressed support, stating, "We deserve good government... government needs to be more accountable, efficient, and outcomes-based." He added, "If we can be helpful to them, I'd love to be helpful to them."
Musk had previously proposed the idea of DOGE during a conversation with former U.S. President Donald Trump. After Trump lost the election, Musk remained committed to assisting with government efficiency efforts.
Dimon's support for DOGE aligns with his previous statements on the importance of governmental efficiency. Last year, he expressed his appreciation for the concept of an "efficiency commission."
The Dimon-Musk reconciliation comes after years of disputes. In the past, JPMorgan had refused to underwrite leases for Tesla vehicles and sued Tesla and Musk over alleged contract breaches. However, both parties have since dropped their lawsuits.