Jamie Dimon, the head of JPMorgan, is one of the most influential bankers in the United States and a rival of Donald Trump in the global finance arena. While Trump began his career with $500 million from his father, his business history has been more erratic, including four bankruptcies and companies that repeatedly went under until he began to monetize the presidency, as noted by Fortune magazine last June. Dimon's position on Wall Street is absolute: JPMorgan's shares have risen by nearly 1100% since he took the helm in December 2005. The president sued Dimon after JPMorgan closed accounts for him and his family following the assault on the Capitol in January 2021, when Washington was in a state of collapse. In parallel, the banker has questioned the White House's tariff policy, the immigration actions of ICE, and Trump's attacks on the Federal Reserve. Yet, on Tuesday, Dimon hosted an investor forum in New York featuring Argentine President Javier Milei, Trump's main regional ally. "Trump played the role of a business magnate, but Dimon is one in reality. There are plenty of reasons: he is registered as a voter for this party and had a permanent place in the War Room of Kamala Harris's failed presidential campaign in 2024. Dimon was close to running for president in 2020; at a JPMorgan forum, he said he considered himself 'smarter' than Trump, who was then in the Oval Office, but ultimately, the same thing happened to him as it did years earlier to another magnate, Michael Bloomberg: he understood that he could not win the nomination of a Democratic party whose base did not want to support a Wall Street figurehead. The head of JPMorgan introduced Milei and lent the bank's headquarters on Park Avenue for the leader to promote investments in his country. Dimon, who is something of a reference for all of Milei's economic team, given that several officials worked at JPMorgan, is beginning to be mentioned as an option for the Democratic party's presidential nomination in 2028. Bill Ackman, the owner of the Pershing fund—which manages $20 billion in assets—has publicly stated that Dimon should be the Democrats' candidate. The executive describes himself as a moderate who has consistently defended a political philosophy of social consciousness with fiscal prudence. The electoral landscape now looks more conducive to Dimon's calculations than in previous years: beyond California Governor Gavin Newsom, no major figures appear on the Democratic horizon, and the economy, in various polls, is positioning itself as a key factor for the upcoming midterm elections.
