US President Donald Trump has taken a sharp turn in his relationship with Jamie Dimon, the CEO of JP Morgan Chase & Co, hitting rock bottom over claims that his bank closed accounts due to political reasons following last year's Capitol riots.
The tensions between the billionaire duo began years ago when Dimon agreed to join a business council for Trump and publicly tolerated some of the president's controversies, including the decision to withdraw from the Paris climate accord. However, he was forced to distance himself after Trump refused to denounce white supremacists during a deadly rally in Charlottesville.
Despite his differences with Trump, Dimon had previously expressed positive views on the president's tax cuts and nascent China trade deal. But things took a sour turn when the Capitol riots occurred, prompting swift condemnation from business leaders including Dimon – an event that led to the closure of Trump's bank accounts.
Things escalated further as Trump launched a $5 billion lawsuit against JP Morgan Chase & Co claiming the bank unfairly closed his accounts following the riot. The company has vehemently denied the claims stating they have "no merit".
This dispute echoes the previous case between Nigel Farage and NatWest in the UK which ultimately led to the departure of its chief executive.
Personal tensions also rose as Dimon recently stated he could beat Trump – a claim met with ridicule from the president himself, who said Dimon was not fit for office.
The tensions between the billionaire duo began years ago when Dimon agreed to join a business council for Trump and publicly tolerated some of the president's controversies, including the decision to withdraw from the Paris climate accord. However, he was forced to distance himself after Trump refused to denounce white supremacists during a deadly rally in Charlottesville.
Despite his differences with Trump, Dimon had previously expressed positive views on the president's tax cuts and nascent China trade deal. But things took a sour turn when the Capitol riots occurred, prompting swift condemnation from business leaders including Dimon – an event that led to the closure of Trump's bank accounts.
Things escalated further as Trump launched a $5 billion lawsuit against JP Morgan Chase & Co claiming the bank unfairly closed his accounts following the riot. The company has vehemently denied the claims stating they have "no merit".
This dispute echoes the previous case between Nigel Farage and NatWest in the UK which ultimately led to the departure of its chief executive.
Personal tensions also rose as Dimon recently stated he could beat Trump – a claim met with ridicule from the president himself, who said Dimon was not fit for office.
. I think Jamie Dimon's decision to close Trump's accounts after the Capitol riots was probably the right call - it shows they're not going to play along with his attempts to intimidate businesses into being complicit in his politics 
. But at the same time, I'm shocked that Trump is taking them to court over this - I mean, isn't he the one who's been trying to strong-arm banks and CEOs for years? 
It just goes to show how far out of touch Trump is with reality.
Saying he could beat Trump in an election? That's some bold stuff, but I think it's safe to say the guy's not exactly setting the world on fire right now. Still, you've got to admire his spunk and willingness to take on Trump - that's definitely not something you see every day! 
Donald Trump is being super unreasonable and Jamie Dimon is just trying to protect his bank 
I mean, come on, $5 billion lawsuit? That's just too much 
. Can't Trump just accept that some people are going to disagree with him and move on? 
and I gotta say, if Trump really thinks he can take on Dimon in a battle of wits... good luck with that, buddy 
I mean, I love Jamie Dimon for being confident and all but that comment was lowkey savage. Anywayz, this feud between them is like a real-life episode of The Office 
. Can't wait to see how it all plays out! 
... I think both sides are being super unfair to each other 
. But at the same time, Trump's claims of politics being involved just seem like an excuse 
. Can't they just communicate and figure this out? It feels like things are escalating way too fast 
... What I wish is for them to calm down and talk it out instead of going public with their disagreements 
...
he's gotta realize the bank did what they had to do after what went down in DC... it's not about politics, it's about the optics 
and honestly who can blame Dimon for taking a stand? Trump needs to grow up and accept that his actions have consequences 
.
. First, Dimon joins the business council with Trump, thinks he's doing the right thing, but then Trump says some racist stuff in Charlottesville and Dimon is all "oh no". I feel for the guy, he just wanted to do the right thing.
.