Jamie Dimon Praises Elon Musk and Signals Reconciliation During World Economic Forum

JPMorgan Chase & Co. CEO Jamie Dimon expressed his appreciation for Tesla CEO Elon Musk on Wednesday, suggesting that their previously strained relationship has improved.

During an interview at the World Economic Forum, which aired on CNBC's "Squawk Box," Dimon confirmed that he and Musk have reconciled.

“Elon and I have hugged it out. He came to one of our conferences, and we had a lengthy discussion to resolve our differences,” Dimon stated.

Last year, JPMorgan dropped a lawsuit against Tesla, which had alleged a breach of contract concerning stock warrants. The bank had sought $162.2 million, claiming that Tesla violated a contract when adjustments were made to the value of warrants following Musk's 2018 tweet about taking Tesla private at $420 per share.

Musk faced charges from the SEC for securities fraud, leading both him and Tesla to settle by paying $20 million each, according to CNBC.

Dimon seems to have moved past any former issues with Musk, not only indicating that they have mended their relationship but also praising Musk's achievements across his various ventures, including Tesla, SpaceX, and Neuralink.

“He’s like our Einstein,” Dimon remarked. “I would like to support him and his companies as much as possible.”

Additionally, Dimon mentioned his willingness to assist Musk in his new role related to budget cuts at the Department of Government Efficiency, also known as DOGE.

"We deserve a competent government… accountability, efficiency, and an outcomes-based approach are essential… It will be complex, given the nature of the federal government," Dimon noted. “If there's a way we can assist, I would be eager to help.”