Speaking during an interview at the World Economic Forum’s annual event in Davos, Switzerland, Dimon revealed that he and Musk have mended their previously strained relationship.
“Elon and I hugged it out,” Dimon shared with CNBC. “He came to one of our conferences, and we had a nice, long chat. We settled some of our differences.”
Dimon’s desire to support Musk
Expressing his admiration for Musk’s innovative companies, Dimon emphasised his desire to support Tesla owner in any way possible.
“I’d like to be as helpful to him and his companies as we can,” CNBC quoted the JPMorgan CEO as saying.
Dimon’s comments follow JPMorgan’s decision late last year to drop a case filed against Tesla in 2021, which had sought $162.2 million plus fees over a dispute regarding stock warrant transactions.
JPMorgan had accused Tesla of breaching an agreement related to the repricing of stock warrants, which led to a conflict over adjustments made after Musk’s 2018 tweet about taking Tesla private at $420 a share.
Musk was later charged with securities fraud by the SEC, with both he and Tesla agreeing to pay $20 million each to settle the case.
Musk’s increasing clout under Trump 2.0
Musk is now playing a significant role in the newly formed government under US President Donald Trump, where he heads a forthcoming advisory board, the Department of Government Efficiency.
Dimon expressed his support for Musk’s government efforts, saying, “Government needs to be more accountable and efficient. It should focus on outcomes, department by department. I wish them the best.”
