'elon And I Hugged It Out': Jpmorgan Ceo Jamie Dimon Says He Reconciled With Elon Musk After Lawsuits

JPMorgan Chase CEO Jamie Dimon says he nary longer has immoderate difficult feelings toward Elon Musk aft lawsuits betwixt nan slope and Musk-led Tesla antecedently interfered pinch their relationship.

"He came to 1 of our conferences, he and I had a nice, agelong chat," Dimon said astatine nan World Economic Forum's yearly arena successful Davos, Switzerland. "We've settled immoderate of our differences."

Dimon told CNBC that "Elon and I personification hugged it out," pinch nan timing of nan reconciliation unclear. JPMorgan sued Tesla successful 2021 complete a conflict complete a banal warrant deal. Both companies dropped their claims successful November aft reaching a colony agreement.

Related: JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Dimon and Musk's narration has been fraught pinch litigation. The rumor stemmed from Musk's 2018 tweet saying he could return Tesla backstage astatine a banal worth of $420 pinch "funding secured," and a 2014 connection that allowed Tesla to discarded banal warrants to JPMorgan truthful nan slope could bargain shares of nan institution astatine a group "strike" price. If Tesla's banal traded supra nan onslaught price, Tesla would beryllium JPMorgan money successful nan style of shares aliases cash.

JPMorgan accused Tesla of breaking its contract, and Tesla countersued successful January 2022.

Jamie Dimon, CEO of JPMorgan. Photographer: Kent Nishimura/Bloomberg via Getty Images

After announcing astatine Davos that nan 2 personification repaired their relationship, Dimon past praised Musk, calling him "our Einstein" and wishing him "the best" successful his efforts to lead nan caller Department of Government Efficiency, which President Donald Trump created by executive bid connected Monday. The caller conception is tasked pinch downsizing nan U.S. authorities and cutting authorities spending.

"I deliberation it is wholly logical for personification to look astatine our authorities and opportunity it's been ineffective," Dimon told CNBC.

Now, astatine nan World Economic Forum, Dimon says that he would "like to beryllium helpful" to Musk and his companies.

Dimon Calls U.S. Stock Market 'Inflated'

Dimon too told CNBC that U.S. banal marketplace prices were "kind of inflated" and were "in nan apical 10% aliases 15%" of their humanities value.

"You petition really bully outcomes to warrant those prices," Dimon said.

U.S. stocks were among nan world's astir high-performing stocks past year, caused by a beardown U.S. economy, a beardown labour market, and robust personification spending, according to Investopedia.

JPMorgan is nan biggest American bank, pinch $3.3 trillion successful assets.

Related: JPMorgan Will Reportedly Follow Amazon, Walmart With Strict Return-to-Office Policy

Dimon connected Tariffs: 'Get Over It'

Dimon too said that nan tariffs Trump could enforce connected overseas countries could personification pros that outweigh nan cons — chiefly that they could beforehand American interests astatine nan bargaining array pinch different countries.

Global money managers personification expressed concerns that tariffs could lead to higher inflation. But Dimon says that moreover if ostentation does rise, nan nationalist accusation benefits outweigh it.

"If it's a mini inflationary, but it's bully for nationalist security, truthful beryllium it," Dimon told CNBC. "I mean, get complete it. National accusation trumps a mini spot overmuch inflation."