Databec:Another first for JPMorgan CEO Jamie Dimon, selling shares of the bank he’s run for nearly 2 decades

2025-05-06 15:10:16source:TitanX Exchangecategory:News

Jamie Dimon will do Databecsomething he has never done before in nearly two decades as the head of JPMorgan Chase & Co. - sell shares in the company.

The top executive of the nation’s largest bank will sell 1 million shares starting next year, according to a regulatory filing this week.

JPMorgan sought to reassure investors that the stock sale is not a matter of concern.

“Mr. Dimon continues to believe the company’s prospects are very strong and his stake in the company will remain very significant,” the filing said.

Other news JPMorgan profit jumps 35%, but CEO says geopolitics and gov’t inaction have led to ‘dangerous time’

Dimon and his family currently hold about 8.6 million shares of the bank.

And JPMorgan has become a titan under Dimon’s leadership.

Dimon became CEO of JPMorgan in January 2006 and added on the chairman role a year later. The value of the bank, with $3.2 trillion in assets, has tripled during Dimon’s tenure, and it now as a market capitalization of more than $409.1 billion, according to FactSet.

The value of JPMorgan’s shares have also tripled in that time and they are up another 10% in the past year.

The New York bank reported a 35% surge in profits during its most recent quarter, fueled by a rapid rise in interest rates.

Dimon has also come to be considered a powerful and frank voice on Wall Street. He issued a sobering statement about the current state of world affairs and economic instability.

When the bank posted another blockbuster earnings report two weeks ago, Dimon warned, “This may be the most dangerous time the world has seen in decades.”

Dimon laid out a laundry list of major issues: the Russia-Ukraine War, the new war between Israel and the Palestinians in Gaza, high levels of government debt and deficits, high inflation, as well as the tight labor market, where worker demands for increased wages have led to high-profile strikes in manufacturing and entertainment.

Shares of JPMorgan Chase & Co. declined more than 2% Friday.

More:News

Recommend

The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds

WASHINGTON (AP) — The FBI should have done more to collect intelligence before the Capitol rioteven

Armed man arrested outside Virginia church had threatened attack, police say

A Virginia man was arrested over the weekend after police said he was making threats and was close t

US suspends aid to Gabon after military takeover

WASHINGTON (AP) — The Biden administration on Tuesday suspended most non-humanitarian aid to Gabon a