Jamie Dimon Doubts Mamdani's Radical Socialist Plans, Then Calls Him Anyway

JPMorgan Chase & Co. JPM CEO Jamie Dimon has been vocally skeptical of Zohran Mamdani's platform as the Democratic Socialist candidate running for New York City mayor.

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"More Of A Marxist"

Dimon hasn't minced words about his doubts. 

The CEO has described many of Mamdani's progressive economic proposals, such as expanded social programs, more public housing and higher taxes, as "plans that have never worked before." 

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He even said Mamdani is “more of a Marxist than a socialist,” adding Mamdani is pushing “the same ideological mush that means nothing in the real world.”

Some of Mamdani's proposals include city-owned grocery stores and 200,000 new units of “permanently affordable, union-built, rent-stabilized homes.” 

Dimon, despite his criticisms, has also signaled a willingness to engage constructively with whoever ultimately leads the city. 

Last week, Dimon and Mamdani reportedly spoke on the phone in what sources called a "friendly conversation."

"You have to work with the people elected," Dimon said, expressing belief that cooperation is necessary for the city's benefit. 

NYC Election

The New York City mayoral election will be held on Nov. 4, 2025. Mamdani currently leads over former New York Gov. Andrew Cuomo, incumbent New York City Mayor Eric Adams and Republican nominee Curtis Sliwa.

The prediction market Kalshi shows Mamdani with an 83% chance of winning the mayoral race with Cuomo and Adams' chances only in the single digits. 

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