Jamie Dimon Net Worth 2024

What is Jamie Dimon’s net worth and wage?

Jamie Dimon is an American billionaire funding banker and CEO who has a net worth of $2.1 billion. Jamie Dimon earned his net worth from his present place because the CEO and chairman of JPMorgan Chase & Co, presently the biggest American financial institution. In addition, he was on the board of administrators of the Federal Reserve Bank of New York.

Notably, Dimon is likely one of the few financial institution chief executives to change into a billionaire with out being a founding father of the financial institution. He is likely one of the few individuals in historical past to go from non-founding employee to billionaire. Other examples of non-founding staff who grew to become billionaires embrace Oracle CEO Safra Catz, former Facebook govt Sheryl Sandberg can be on this membership, as are Apple CEO Tim Cook and former Microsoft CEO Steve Ballmer.

Stock Holdings

As of this writing, Jamie straight owns 7.8 million shares of the corporate. This represents about 0.2% of all excellent shares of JPMorgan Chase. Dimon’s shares are presently value about $1.4 billion (assuming a value per share of $180). Dimon’s possession of JPMorgan Chase shares makes him one of many largest particular person shareholders of the corporate. His shares are additionally a big a part of his private wealth.

He has earned not less than $500 million in wage and different inventory compensation through the years each from JP Morgan and former positions at banks like Citigroup.

In October 2023 Jami introduced that he plans to promote 1 million shares over time for tax and property planning functions. At the time of the announcement, 1 million shares have been value $141 million. His first vital share sale occurred in February 2024, when he offered 822,00 shares for a pre-tax windfall of $150 million.

Salary and Compensation

In a typical yr Jamie earns a base wage of $27.5 million. With different types of compensation together with bonuses, inventory choices, personal jet utilization and private safety, Jamie’s annual whole compensation sometimes tops $30-40 million.

In June 2015 Jamie Dimon’s net worth topped $1 billion for the primary time. During his time at JP Morgan, Jamie has earned roughly $200 million in wage and dividends. He has additionally been generously awarded with inventory. At the bottom low-point of the 2008 monetary disaster, his holdings have been value a little bit underneath $100 million.

Outside of inventory investments, he owns roughly $100 million value of actual property, together with a Park Avenue condominium and a 30-acre property in Bedford Corners, New York.

Jamie’s non-JP Morgan associated monetary property are presently value barely north of $500 million.

Early Life and Career Beginnings

James Dimon was born in 1956 in New York City, New York to Greek immigrants Themis and Theodore. He has an older brother named Peter and a fraternal twin brother named Ted. Both Dimon’s father and grandfather have been stockbrokers at Shearson. As a youth, Dimon went to the all-boys Browning School. He went on to attend Tufts University, the place he studied economics and psychology and graduated summa cum laude. Following his commencement, Dimon labored in administration consulting for a few years earlier than enrolling at Harvard Business School. During the summer time, he labored at Goldman Sachs. Dimon graduated along with his MBA in 1982. Subsequently, on the recommendation of banker Sandy Weill, he turned down affords from Morgan Stanley, Goldman Sachs, and Lehman Brothers to hitch Weill as an assistant at American Express, the place Dimon’s father was an govt vp.

When Weill departed from American Express in 1985, Dimon adopted. Together, the pair went on to take over the buyer finance firm Commercial Credit. At Commercial Credit, Dimon served because the chief monetary officer and helped to show the corporate round. Then, by way of a sequence of mergers and acquisitions, Dimon and Weill managed to type the monetary providers conglomerate Citigroup in 1998. Shortly after, Dimon left Citigroup when Weill requested him to resign.

Upon leaving the corporate, Jamie offered 2.3 million Citigroup shares for a pre-tax revenue of $110 million.

J.P. Morgan

In early 2000, Dimon grew to become CEO of Bank One, the fifth largest financial institution within the United States on the time. Four years later, when the financial institution was purchased by JPMorgan Chase, Dimon grew to become president and chief working officer of the corporate. Subsequently, on New Year’s Eve in 2005, he was named CEO of JPMorgan Chase. Exactly one yr later, he grew to become chairman and president. Thanks partly to the acquisitions made underneath Dimon’s management, JPMorgan Chase grew to become the main US financial institution in home property underneath market capitalization worth, administration, and publicly traded inventory worth.

In May of 2012, JPMorgan Chase launched an emergency convention name to report a lack of not less than $2 billion in trades. Dimon claimed the trades have been poorly reviewed and executed, and have been designed to hedge the financial institution’s credit score dangers. Following a nine-month investigation, a US Senate report acknowledged that Dimon had misled traders and regulators, and that the financial institution hid losses and dodged oversight. As a outcome, Dimon’s compensation was diminished for the fiscal yr 2011. Despite the scandal and fines, it was introduced that Dimon would earn $20 million for his work throughout 2013, which noticed report income and inventory costs.

TARP Transfer

During his tenure as head of JPMorgan Chase in 2008, Dimon oversaw the switch of $25 billion in funds from the US Treasury Department to the financial institution, carried out underneath the Troubled Asset Relief Program. It was the fifth largest quantity ever transferred underneath Section A of TARP to help with troubled property associated to residential mortgages. However, by early 2009, the federal government had not moved ahead with the funding. The deal was extremely controversial, as JPMorgan Chase was among the many most economically secure of all the big US banks and didn’t have to take the funds.

Political Affiliations

Dimon is generally affiliated with the Democratic Party, to which he continuously donates. He has had shut ties with some members of the Obama administration, together with former Chief of Staff Rahm Emanuel. Additionally, he was named by the Associated Press as considered one of three CEOs, together with Vikram Pandit and Lloyd Blankfein, to have had entry to former Treasury Secretary Timothy Geithner.

Despite his Democratic leanings, Dimon typically publicly dissented from a few of Obama’s insurance policies. Moreover, in December of 2016, he joined a enterprise discussion board assembled by Donald Trump to supply coverage recommendation on financial points.

Personal Life and Health

While attending Harvard Business School, Dimon met Judith Kent. After graduating, the couple married in 1983. Together, they’ve three daughters: Julia, Laura, and Kara Leigh.

In 2014, Dimon was identified with throat most cancers; he subsequently underwent eight weeks of radiation and chemotherapy. Later, in 2020, he underwent emergency coronary heart surgical procedure to restore a tear in his aorta. Following his restoration, he returned to work in a distant capability as a result of COVID pandemic.

Honors

Among his accolades, Dimon acquired the Golden Plate Award of the American Academy of Achievement in 2006, introduced by Chicago mayor Richard M. Daley. In 2010, Dimon was named the Executives’ Club of Chicago’s International Executive of the Year. Other honors have included the National Association of Corporate Directors Directorship 100, the Intrepid Salute Award, and the Americas Society Gold Medal. Additionally, Dimon was included on Time journal’s record of the 100 most influential individuals on the earth in 2006, 2008, 2009, and 2011.