(Fortune) - JPMorgan CEO Jamie Dimon isn’t known for holding back, even when it stirs controversy.
Dimon raised eyebrows by agreeing with former President Donald Trump on certain issues and supporting Elon Musk’s call for a Department of Government Efficiency (DOGE) under the next administration. This praise comes from a man who has described himself as "barely a Democrat."
Despite his outspoken nature, Dimon has publicly denied any political ambitions and has avoided endorsing either Kamala Harris or Trump in the upcoming election.
But Dimon’s opinion carries weight—and his endorsement could have significant implications for JPMorgan’s 300,000 employees.
That’s why a New York Times report suggesting Dimon privately favors Harris over Trump has drawn attention.
Citing three anonymous sources, the Times claims Dimon would even consider a role, such as Treasury Secretary, in a Harris administration.
The report also suggests Dimon is critical of Trump, particularly over his refusal to concede the 2020 election. However, Dimon is reportedly cautious about going public with his views, fearing potential backlash if Trump wins.
While the Harris camp might welcome rumors of Dimon's support, these claims contradict his past public statements.
JPMorgan directed Fortune to comments made by Joseph Evangelisti, head of global communications for JPMorgan, when approached for comment.
Evangelisti responded to the report that Dimon “has never publicly endorsed a presidential candidate, but he speaks out forcefully and often on policies to help strengthen our country and lift up communities.
“His comments are often weaponized by the left or right when he weighs in on politics or politicians, which is not constructive to helping solve our country’s biggest problems.”
Dimon has not endorsed a candidate
Despite erroneous claims from the Trump camp that Dimon—a Harvard Business School grad—has endorsed the Republican candidate, the JPMorgan CEO has deliberately avoided expressing any opinion on either side thus far.
In an opinion column for The Washington Post published in August, Dimon explicitly focussed on what he wants to see from the next president instead of specifying who he wants that person to be.
"We need to elect a president who is dedicated to the ideals that define and unite us, and who is committed to restoring our faith in America and our indispensable role in the world," he wrote.
In an interview with Bloomberg TV earlier this month, Dimon said he would vote for one candidate or the other as a U.S. citizen and explicitly stated he's not interested in private endorsements.
"I will decide, I will vote," he said. "I reserve the right to do whatever I want, I'm a citizen, I can vote, I can say what I want. I've never been into privately endorsing candidates ... I'm thinking through what I want to say or do."
The politics rumor: Flattering or annoying?
Dimon's name has also been mentioned in relation to a raft of political roles—spurred by the news he will be stepping down as the JP boss within five years—from serving on another president's government to even running himself.
When asked earlier this month if he was considering a run, he responded: "It's more annoying than not because I can't run for president. There was no opening, there was no way that it was even possible. It's a little flattering, but you know, I just want to help our government do the right stuff."
But could this open-ended offer of "help" mean Dimon would consider a role in the White House? Again, it's an idea he's dismissed.
In an interview with the Wall Street Journal in April, the CEO paid $36 million for his work in 2023, said: “I would not do Fed chairman, I wouldn’t do Treasury Secretary—I don’t think I’d ever be picked for that."
By Eleanor Pringle
