Jamie Dimon Net Worth: CEO of J.P. Morgan Chase

Jamie Dimon Net Worth: CEO of J.P. Morgan Chase

August 13, 2019 0 By johny

Jamie Dimon is the chairman of J.P. Morgan Chase which is one of the four largest banks in the United States. A U.S. citizen by birth, Jamie Dimon has been a total of four times on Time magazine’s top 100 most influential people; in 2006, 2008, 2009, and 2011. 

Early Life

source:bloomberg.com

Dimon was born in New York City and is a Greek immigrant child. His parents, Theodore and Themis Dimon were both business people who arrived in America long before Jamie and his two brothers, Peter and Ted, were born.

His grandfather, which was a stockbroker at Shearson, changed the family name from Papademetriou to Dimon to make it sound more French. 

Education

Dimon attended the Browning School, which is a boy’s only independent school in New York City. He graduated summa cum laude at Tufts University, majoring in psychology and economics. It is at Tufts where he got his first summer job doing budgets for Shearson after he wrote an essay about Shearson mergers.

After graduation, Mr. Dimon did some management consulting for two years before enlisting at Harvard Business School. During his time at Harvard, he worked at Goldman Sachs before graduating in 1982 with a Master of Business Administration degree as a Baker Scholar. 

After graduation, he was offered an assistant’s role at American Express by Sandy Weill. During that time at American Express, his father was an executive vice president at the same company.

His Career

source:bloomberg.com

Dimon along with Sandy Weill both left American Express for Commercial Credit. Shortly after, they managed to create a large financial service conglomerate called Citigroup. In 1998, Dimon left Citigroup after Sandy Weill asked him to. The reasons for it are so far unknown, but it is rumored that Weill fired him after refusing to promote his daughter. 

J.P. Morgan Chase

In 2000, Jamie Dimon became the CEO of Bank One, which he managed to raise it as the 5th largest U.S. bank. 

Shortly after in 2004, J.P. Morgan Chase acquired Bank One and Dimon became the president and chief operating officer of J.P. Morgan Chase.

If you want to know a more detailed review of J.P. Morgan Chase, then you can learn more here.

On exactly December 31st, 2005, Dimon became the CEO of J.P. Morgan Chase and on December 31st, 2006 he was named Chairman and President. This allowed Dimon to challenge his old friend and competitor Sandy Weill and Citigroup.

During his time as Chairman and President, J.P. Morgan Chase became the leading U.S. bank in domestic assets, with more than 250,000 employees worldwide and a market cap of over $340 billion.

Jamie Dimon has cleverly managed to rise as one of the “Top Gun CEO’s” in the banking industry through cleaver management and investments. For his work in 2013 and for registering yearly record profits and stock prices, J.P Morgan Chase awarded Dimon $20 million. This was by far the most a CEO has ever received and it was a 74% raise that included $18 million in restricted stocks. 

Jamie Dimon has a total net worth of $1.3 billion, according to Forbes