Will JPMorgan CEO Jamie Dimon Run For President? Hedge Funder Bill Ackman Gives His Nod

Jamie Dimon, CEO of JPMorgan Chase & Co JPM, the largest bank in the U.S. and the third largest in the world, has typically dismissed speculation about running for office.

However, in a Wednesday interview with Bloomberg Television, the CEO seemed to hint at the possibility of a future in public service, leading hedge funder Bill Ackman to speculate (and support) Dimon's potential presidential bid.

What Happened: Speaking with Bloomberg at JPMorgan's annual Global China Summit in Shanghai, Dimon said, "I love my country and maybe one day I'll serve my country in one capacity or another.” Though, he quickly pivoted back to his current role, expressing his satisfaction with leading the largest U.S. bank, a position he’s held since 2005.

Noteworthy support for Dimon’s possible foray into politics comes from Ackman, Founder and CEO of Pershing Square.

Ackman took to Twitter to commend Dimon, describing him as one of the world’s most respected business leaders. According to Ackman, Dimon is a centrist, pro-business, and pro-free enterprise, but also a supporter of well-designed social programs and rational tax policies.

The Pershing Square CEO outlined Dimon’s leadership qualities, including his pragmatism, problem-solving abilities, and charisma. He applauded Dimon’s management of JPMorgan, emphasizing his reputation among his employees, the military, and global leaders alike.

Pointing to the nation’s current debt situation and political uncertainty, Ackman argued that the U.S. needs a leader with business, financial, and global expertise. In his view, Dimon fits the bill perfectly. This comes after Ackman retracted his support for Vivek Ramaswamy in April, saying that Ramaswamy's policies wouldn't bring the country together.

And, the hedge funder's endorsement comes in light of past comments made by Dimon about his political leanings.

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In 2016, Dimon confessed his interest in the presidency but felt it was "too hard and too late" for him, according to CNN. In 2018, he suggested he could beat then-President Donald Trump, saying, "I'm as tough as he is, I'm smarter than he is.”

Let's consider the pressing question: If he were to run for president, would he run as a Democrat or a Republican?

Well, Dimon has previously described himself as "barely a Democrat," saying in 2019 to CNBC, “my heart is Democratic, my brain is kind of Republican.”

The CEO believes in the power of regulated free-market capitalism to alleviate poverty and insists on prudent spending when it comes to social programs.

JPMorgan donated $1.59 million to Democrats, and $757,000 to the Republican Party during the 2020 presidential election, according to Open Secrets.

The bank donated $852,000 to Democrats, and $576,000 to Republicans during the 2022 midterms.

Personally, Dimon has donated to Republicans just twice, both times to Senate Minority Leader Mitch McConnell, while he's donated to Democrats on five occasions, according to Open Secrets.

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Photo: Fortune Live Media from Flickr.