Jamie Dimon facts for kids
Quick facts for kids
Jamie Dimon
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Dimon in 2016
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| Born | March 13, 1956 New York City, U.S.
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| Education | Tufts University (BA) Harvard University (MBA) |
| Occupation |
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| Years active | 1979 – present |
| Spouse(s) |
Judith Kent
(m. 1983) |
| Children | 3 |
Jamie Dimon (born March 13, 1956) is an American businessman and banker. He is best known as the chairman and chief executive officer (CEO) of JPMorgan Chase, one of the world's largest banks. He has held this important role since 2006.
Dimon started his career as a business advisor. After getting his master's degree in business, he joined American Express. He worked closely with his mentor, Sandy Weill. Later, he became a top leader at several big financial companies. These included Commercial Credit, Travelers, Smith Barney, and Citigroup. In 2000, he became CEO of Bank One. When Bank One joined with JPMorgan Chase in 2004, Dimon became a key leader there. He took over as CEO of JPMorgan Chase in 2006.
He was also on the board of directors for the Federal Reserve Bank of New York. This is an important part of the U.S. central banking system. Time magazine has named him one of the world's 100 most influential people several times. In 2024, his wealth was estimated to be about $2.6 billion.
Contents
Early Life and Education
Dimon was born in New York City. He is one of three sons of Theodore and Themis Dimon. His family has Greek ancestry. His grandfather was a Greek immigrant who worked as a banker. The family name was changed from Papademetriou to Dimon. This was done to make it sound more French or to help him find work. Jamie has an older brother, Peter, and a twin brother, Ted. Both his father and grandfather worked as stockbrokers.
He went to the Browning School. Then he studied psychology and economics at Tufts University. He graduated with very high honors. While at Tufts, he wrote about company mergers. His mother sent his paper to Sandy Weill. Weill then hired Dimon to work at Shearson during a summer break.
After college, he worked as a business consultant for two years. Then he went to Harvard Business School. He graduated in 1982 with an MBA degree. This is a special degree for business leaders. After Harvard, Sandy Weill convinced him to join American Express. Weill promised him the work would be "fun." Dimon's father also worked at American Express at the time.
Career Journey
Leading Financial Companies
Sandy Weill left American Express in 1985, and Dimon followed him. They took over a company called Commercial Credit. At just 30 years old, Dimon became the chief financial officer. He helped turn the company around and make it successful. Through many mergers, Dimon and Weill created a huge financial company called Citigroup in 1998. However, Dimon left Citigroup later that year. Reports said he and Weill had disagreements.
Taking Charge at J.P. Morgan
In March 2000, Dimon became the CEO of Bank One. This was the fifth-largest bank in the U.S. When JPMorgan Chase joined with Bank One in 2004, Dimon became president and chief operating officer. On December 31, 2005, he was named CEO of JPMorgan Chase. A year later, he also became chairman.
Under Dimon's leadership, JPMorgan Chase grew a lot. It became the top U.S. bank in terms of money managed and its value in the stock market. In 2008, he joined the board of the Federal Reserve Bank of New York.
In 2012, JPMorgan Chase had a big trading loss of at least $2 billion. Dimon said the trading strategy was "flawed" and "poorly executed." This event was investigated by several government groups. The person involved was nicknamed the "London Whale."
Dimon is also part of The Business Council, a group of global CEOs. He helps lead discussions on economic issues.
Bank Settlements and Fines
During Dimon's time as head of JPMorgan Chase, the bank paid large amounts of money in settlements. These were for legal and rule-breaking issues. For example, the bank reached a $13 billion settlement with the U.S. government. This was related to problems with how some loans were handled before the 2007–2008 financial crisis.
Dimon felt some of these settlements were unfair. He said many of the government's claims were for issues that happened at companies before JPMorgan Chase bought them. This happened during the financial crisis when the government encouraged JPMorgan Chase to buy other struggling banks.
How Much He Earns
Jamie Dimon is one of the few bank CEOs who has become a billionaire. This is mostly because of his ownership in JPMorgan Chase. In 2011, he received a $23 million pay package. This was more than any other bank CEO in the U.S. However, his pay was lowered to $11.5 million in 2012. This was after the bank had the $6 billion trading losses.
In 2014, he received $20 million for his work in 2013. That year, the bank had record profits. More recently, he received $34.5 million in 2022 and $36 million in 2023.
His Business Style
Dimon is known for carrying a sheet of paper with lists of things to do. He systematically crosses them off. He has said he uses a method called the OODA loop to evaluate situations. This method helps him observe, orient, decide, and act quickly.
Political Involvement
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From 1989 to 2009, Dimon mostly gave money to the Democratic Party. In 2012, he said he was "barely a Democrat." After Barack Obama won the 2008 election, some thought Dimon might become the Secretary of the Treasury. Obama later chose Timothy Geithner for that role.
Dimon has had close connections with people in the Obama White House. He was one of a few CEOs who had easy access to former Treasury Secretary Timothy Geithner. However, Dimon often publicly disagreed with some of Obama's policies.
During the 2016 vote for the United Kingdom to leave the European Union (called Brexit), JPMorgan Chase gave money to the "Remain" campaign. Dimon personally spoke out against Brexit.
In 2016, Dimon joined a business group created by then-President-elect Donald Trump. This group offered advice on economic issues. However, the group broke up after Trump's comments about political violence in 2017. During Trump's presidency, Dimon supported his tax cuts. But he criticized Trump's policies on immigration and trade. In 2019, Dimon said the U.S. economy was "the most prosperous the world has ever seen."
During the 2020 presidential election, Dimon asked candidates to respect the democratic process. He also called for a peaceful transfer of power. He later spoke out against the 2021 United States Capitol attack. In 2021, Trump criticized Dimon because his company did business in China.
In 2023, some people encouraged Dimon to run for president in 2024. Dimon said he had no plans to run at that time. He said he was happy leading JPMorgan Chase. In November 2023, Dimon said he preferred Nikki Haley over Donald Trump for the Republican nominee. In August 2024, he wrote an article saying the next president must "restore our faith in America." He did not endorse Trump or Kamala Harris in that article. However, later reports said he was privately supporting Harris's campaign. After Donald Trump took office again in January 2025, Dimon supported Trump's tariff policies. He had previously said tariffs were a threat to the U.S. economy.
Personal Life
In 1983, Dimon married Judith Kent. They met at Harvard Business School. They have three daughters: Julia, Laura, and Kara Leigh. Laura is a journalist and producer for ABC News.
In 2014, Dimon was diagnosed with throat cancer. He received treatment and recovered. In March 2020, at age 63, Dimon had emergency heart surgery. He recovered well from the surgery. During his recovery, other leaders ran the bank. In April 2020, he returned to work remotely due to the COVID-19 pandemic.
Awards and Honors
- 1994: The Browning School Athletic Hall of Fame
- 2006: Golden Plate Award of the American Academy of Achievement
- 2010: The Executives' Club of Chicago's International Executive of the Year
- 2011: National Association of Corporate Directors Directorship 100
- 2012: Intrepid Salute Award
- 2016: Americas Society Gold Medal
- 2022: France's Legion of Honour
Images for kids
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Dimon in 2016
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Dimon with Argentina president Mauricio Macri in 2016.
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Dimon speaking in 2013.
See also
In Spanish: Jamie Dimon para niños
