JPMorgan Chase CEO Jamie Dimon said Wednesday that he and Tesla CEO Elon Musk have “hugged it out” and resolved their differences, after Dimon’s bank sued the tech billionaire’s electric vehicle firm in 2021.
“Elon and I have hugged it out,” Dimon told CNBC at the World Economic Forum in Davos, Switzerland. “He came to one of our conferences. We had a nice long chat. We’ve settled some of our differences.”
“The guy is our Einstein,” he added. “And I like to be helpful to him and his companies as much as we can.”
JPMorgan Chase sued Tesla in 2021, demanding $162 million from Musk’s firm as part of a stock warrant deal. The dispute centered on a 2018 social media post from the Tesla CEO, suggesting he might take the company private, and the subsequent changes in Tesla’s value.
The post also prompted a lawsuit from the Securities and Exchange Commission (SEC) that Musk and Tesla each paid $20 million to resolve in 2018.
JPMorgan dropped the lawsuit against Tesla last month after the two companies reached a settlement.
Musk has since taken on a prominent role in President Trump’s administration, both as the chair of the newly created “Department of Government Efficiency” (DOGE) and as a close ally of the president.
Dimon said Wednesday he wished Musk and DOGE the best as they embark on their cost-cutting efforts.
“I think it is completely rational for someone to look at our government and say it’s been ineffective,” Dimon told CNBC.
