After years of legal battles and public spats, JPMorgan Chase CEO Jamie Dimon and Tesla CEO Elon Musk have finally put their differences aside. In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Dimon confirmed that he and Musk have reconciled and even “hugged it out.”
The feud between Musk and JPMorgan dates back to past lawsuits filed against each other. Musk testified in a Delaware court in 2023, stating that there was a very negative relationship between Tesla and JPMorgan. He even went on to say that JPMorgan “hates Tesla and me very much.” However, in a surprising turn of events, JPMorgan dropped its lawsuit against Tesla last November, and Tesla reciprocated by dropping its countersuit against the bank.
During the CNBC interview, Dimon praised Musk for his innovative projects, calling him “our Einstein” of the modern era. Dimon expressed his admiration for Musk’s ventures such as SpaceX, Tesla, and Neuralink, acknowledging his impact on the tech industry.
In addition to burying the hatchet with Musk, Dimon also showed support for Musk’s latest initiative, DOGE. The digital currency was recently established through an executive order from U.S. President Donald Trump, with the aim of making the federal government more efficient. Dimon voiced his belief in the need for a more accountable and efficient government, stating that the current system is ineffective. He wished DOGE success in its mission to bring about positive change.
The reconciliation between Dimon and Musk marks a significant turning point in their relationship. As two influential figures in the business world, their ability to set aside their differences and work together for a common goal is a testament to the power of collaboration and mutual respect. The future looks bright for both parties as they move forward with a new understanding and shared vision.