JPMorgan Chase CEO Jamie Dimon snubbed Amazon's Jeff Bezos job offer. The real reason will surprise you
JPMorgan Chase
CEO
Jamie Dimon
spilled beans that Amazon founder
Jeff Bezos
offered him a job and he nearly left Wall Street behind to grab the offer. Dubbed the 'white knight of Wall Street', Jamie Dimon revealed he came close to taking a job in Big Tech, a route that meant he would have left the finance world behind and instead reported to Jeff Bezos.
But Dimon did not accept the offer, citing the significant personal and professional shift it would have entailed. Jamie Dimon began his career at American Express before moving to Commercial Credit as CFO.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Management
Digital Marketing
Healthcare
Design Thinking
Technology
Others
MBA
Finance
PGDM
CXO
Degree
Data Science
Data Science
others
MCA
Data Analytics
Leadership
Operations Management
Cybersecurity
healthcare
Product Management
Public Policy
Project Management
Skills you'll gain:
Duration:
10 Months
IIM Kozhikode
CERT-IIMK GMPBE India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
9 Months
IIM Calcutta
CERT-IIMC APSPM India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
11 Months
IIM Kozhikode
CERT-IIMK General Management Programme India
Starts on
undefined
Get Details
Jamie Dimon, at a recent podcast, revealed about his meeting with Jeff Bezos in Seattle. He mentioned that during that time Bezos was looking for a company president for its e-commerce platform — Amazon.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Libas Purple Days Sale
Libas
Undo
ALSO READ:
TikTok could go dark in the US if...: Trump's Commerce Secretary sounds alarm over app's fate
When Jamie Dimon received a job offer from Jeff Bezos
Speaking on the Acquired podcast, Jamie Dimon revealed a moment he shared with Amazon founder Jeff Bezos in 1999 over a cup of coffee in Seattle. At that time, jeff Bezos was seeking a president for his fast-growing company, and they had a particularly consequential conversation.
Live Events
Dimon and Bezos quickly connected and have 'been friends ever since.' However, Dimon admitted that making the leap—not just to Seattle, but from finance to the tech world and leading Amazon full-time—was ultimately 'a bridge too far.' Dimon said he would have been stepping into a radically different industry and life, joking that it would have been like a 'When Harry Met Sally' scenario or an alternate universe: 'I'll never wear a suit again. I'm going to live in a houseboat.'
Joking about the lifestyle change, Dimon said he envisioned a life where he'd "never wear a suit again" and "live on a houseboat," but admitted that uprooting his young family and abandoning his career in finance felt like "just a bridge too far."
ALSO READ:
Hersheypark CEO's emotional statement after 9-year-old dies in tragic incident, first death in nearly 50 years
Jamie Dimon declined the offer despite his friendship with Jeff Bezos. It is pertinent to note that at that time, Amazon was a much different proposition to the $2.4 trillion colossus it is today. The tech company's share price was less than a dollar and it had just a $5.5 billion market cap at the end of 2000. After the Amazon visit, Dimon said he 'got serious' and considered other positions.
After returning home, Dimon began focusing intently on his next move, entertaining offers from major global investment banks, insurance giant AIG through a call from Hank Greenberg, and even Home Depot—whose founders pitched him despite his candid admission that he had never set foot in one of their stores.
But what stuck was a headhunter's call about Bank One, which was valued around $20 billion, a far cry from the $200 billion scale of Citigroup. The Chicago-based lender was struggling to build business and Dimon sensed an opportunity. Despite a warning from analyst Mike Mayo that "even Hercules couldn't fix it", Dimon saw an opportunity to rebuild. He invested $60 million which was half of his net worth into One Bank stock on day one vowing to 'go down with the ship or up with the ship.'
ALSO READ:
'Resident Alien' cancelled? Makers share heartbreaking season 5 update and fans are in shock
'I was going to go down with the ship or up with the ship,' he said, determined to demonstrate to shareholders and his new team that he was 'alock, stock, and barrel.' His decision to stay in banking led to his eventual rise as CEO of JPMorgan Chase.
He made his return to Wall Street in 2004 when Bank One merged with JPMorgan, and he emerged as one of the great stabilizers of the financial system during the 2008 financial crisis.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
10 minutes ago
- Hindustan Times
Top 5 gadgets to buy under ₹4,999 during Amazon Great Freedom Festival Sale
Amazon's awaited Great Freedom Festival Sale is live on the e-commerce website and mobile app, bringing whopping discounts and deals to products across categories. This makes it the best time to upgrade your electronics, be it smartphones, wearables, or any other gadgets. Additionally, with Raksha Bandhan on the way, it's the perfect opportunity to look for the right gift for your sibling. Therefore, to make great use of the Amazon sale, we have found the top 5 useful gadgets under Rs. 4,999 that could come in handy in day-to-day life. From Bluetooth speakers to power banks, here are our top 5 picks. From the DailyObjects Loop MagSafe charger to Sony headphones, here's everything you can buy under Rs. 4,999 during the Amazon sale.(Amazon) Top 5 gadgets under ₹ 4,999 Xiaomi Sound Speaker: If you're looking for a powerful Bluetooth speaker in a compact size, then the Xiaomi Sound speaker could come as a great option. It offers 30W Dynamic sound output, which is perfect for small gatherings or even travel purposes. It comes with an IP67 rating for water protection and offers up to 12 hours of playback time. The Xiaomi Sound speaker is currently available at Rs. 3199, giving buyers a 51% discount. Loading Suggestions... Logitech Pebble 2 Combo: Looking for a mouse and keyboard combo? Then the Logitech Pebble 2 is one of the best-looking and best-performing combos at an affordable price. It lets users connect up to 3 devices wirelessly across operating systems. It is sleek, portable, and lightweight, making it a great choice. The Logitech Pebble 2 is available at a 28% discount during the Amazon sale, with an effective price of just Rs. 4,295. Loading Suggestions... Sony WH-CH520 Bluetooth Headphones: Another gadget under Rs. 4,999 you can buy is the Sony WH-CH520 Bluetooth headphones. It claims to offer crisp sound quality and EQ settings via an app to customise sound preferences. It also offers multi-connection, letting users switch between two devices at once. Lastly, it offers up to 50 hours of battery life, making it perfect for travel. During the Amazon sale, it's available at a discounted price of Rs. 3989. Loading Suggestions... Noise Pro 5 Smartwatch: Next on the list we have is a feature-filled smartphone by Noise. The Noise Pro 5 features a 1.85-inch AMOLED display that provides a quick glance at the weather, AQI and time. It offers advanced features like Bluetooth calling, 100+ sports modes, health monitoring features, reminders, a calculator, and music controls. The smartwatch is currently available at a discounted price of Rs. 2,999 during the Amazon sale. Loading Suggestions... DailyObjects Loop Qi2 Mag-Safe charger: Lastly, we have the popular DailyObjects Loop Qi2 Mag-Safe charger, available at a great price during the Amazon sale. The power bank is backed by a 5000mAh battery that offers up to 15W fast charging to smartphones wirelessly. Additionally, it also offers up to 20W charging with USB-C. The DailyObjects Loop Qi2 Mag-Safe charger is available at a discounted price of Rs. 3,599.
Time of India
24 minutes ago
- Time of India
Brookfield India REIT Q1 net operating income rises 13 pc to Rs 499 cr
New Delhi: Brookfield India Real Estate Trust has posted 13 per cent increase in its net operating income to Rs 498.6 crore for the first quarter of this fiscal year and announced plans to raise up to Rs 1,000 crore through issue of preferential units to investors. Its Net Operating Income (NOI), which is revenue from operation minus direct operating expenses, stood at Rs 439.9 crore in the year-ago period, according to a regulatory filing on Friday. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Data Science Management Healthcare CXO Finance Degree Operations Management Product Management Data Science Digital Marketing MBA others Leadership MCA Artificial Intelligence Others PGDM Cybersecurity Public Policy Design Thinking Technology Data Analytics Project Management Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details The company, an institutionally managed real estate investment trust (REIT) backed by rent-yielding office assets, announced distribution of Rs 319 crore to unitholders (Rs 5.25 per unit) for June quarter of 2025-26 fiscal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Looking for a Solar Panel System? Compare Offers Now Solar panel | Search Ads Learn More Brookfield India REIT also plans to raise up to Rs 1,000 crore through issue of preferential units to investors. It will issue up to 3.23 crore units at Rs 310 per unit. "The fiscal year began on a strong note with healthy leasing momentum , robust occupancy levels , and continued growth in distributions," said Alok Aggarwal, Chief Executive Officer and Managing Director, Brookfield India REIT. Live Events He noted that the company's operating performance remains resilient on steady demand for its high-quality assets across key markets. The company leased 6.51 lakh square feet area in the June quarter. The occupancy level has improved to 89 per cent. "Our proposed fund raise of Rs 10 billion through preferential issue will further strengthen our ability to pursue large growth opportunities," Aggarwal said. The board has approved a preferential issue of Rs 1,000 crore to a mix of investors including corporate treasuries, family offices and high net-worth individuals. "This fund raise, combined with the Rs 3,500 crore raised in December 2024, will strengthen our capacity to pursue large growth opportunities," the company said. Brookfield India REIT also said that it is in talks with the sponsor group for potential acquisition of grade A properties across Bengaluru and Chennai. The REIT has 10 Grade A commercial assets in Delhi, Mumbai, Gurugram, Noida, Kolkata. Its portfolio consists of 29 million square feet of total leasable area, comprising 24.5 million square feet of operating area, 0.6 million square feet of under construction area and 3.9 million square feet of future development potential.
Time of India
40 minutes ago
- Time of India
US stocks slump on latest tariffs, soft jobs data
American stock markets faced a significant downturn on Friday. New tariffs imposed by President Trump on various countries impacted investor sentiment. A surprisingly weak jobs report further fueled concerns about the economy. Amazon's disappointing results also contributed to the market decline. The S&P 500 experienced its largest daily drop since May. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads U.S. stocks slumped on Friday, and the S&P suffered its biggest daily percentage decline in more than two months as new U.S. tariffs on dozens of trading partners and a surprisingly weak jobs report spurred selling weighing on equities was an 8.3% tumble in Amazon .com shares after the company posted quarterly results but failed to meet lofty expectations for its Amazon Web Services cloud computing hours before the tariff deadline on Friday, President Donald Trump signed an executive order imposing duties on U.S. imports from countries, including Canada, Brazil, India and Taiwan, in his latest round of levies as countries attempted to seek ways to reach better denting confidence in the economic picture, data showed U.S. job growth slowed more than expected in July while the prior month's report was revised sharply lower, indicating the labor market may be starting to report significantly pushed up expectations the Federal Reserve will cut interest rates at its September meeting."There's no way to pretty-up this report. Previous months were revised significantly lower where the labor market has been on stall-speed," said Brian Jacobsen, Chief Economist at Annex Wealth Management in Menomonee Falls, Wisconsin."Last year the Fed messed up by not cutting in July so they did a catch-up cut at their next meeting. They'll likely have to do the same thing this year." Market expectations the Fed will cut rates by at least 25 basis points at its September meeting stood at 86.5%, according to CME's FedWatch Tool, up from 37.7% in the prior Dow Jones Industrial Average fell 542.40 points, or 1.23%, to 43,588.58, the S&P 500 lost 101.38 points, or 1.60%, to 6,238.01 and the Nasdaq Composite lost 472.32 points, or 2.24%, to 20, S&P 500 recorded its biggest single-day percentage decline since May 21 while the Nasdaq suffered its biggest daily percentage drop since April the week, the S&P 500 fell 2.36%, the Nasdaq declined 2.17%, and the Dow fell 2.92%.The CBOE Volatility Index, also known as Wall Street's fear gauge, closed up 3.66 points at 20.38, its highest close since June was the biggest drag on the Dow, S&P 500 and Nasdaq and pushed the consumer discretionary index, down nearly 3.6% as the worst performing of the 11 major S&P 500 reporting earnings was Apple , which lost 2.5% after it posted a current-quarter revenue forecast well above Wall Street estimates, but CEO Tim Cook warned U.S. tariffs would add $1.1 billion in costs over the briefly extended declines after Trump said he ordered the commissioner of the U.S. Bureau of Labor Statistics, Erika L. McEntarfer, to be fired in the wake of the jobs data."(Trump) didn't seem to be disappointed with the last five jobs reports," said Art Hogan, Chief Market Strategist, B. Riley Wealth, Boston, saying that the firing stood out as irregular."I think this is clearly something that happens in dictatorships, not in democracies."The Federal Reserve said Governor Adriana Kugler is resigning early from her term and will exit the central bank on Aug. 8, enabling President Donald Trump to select a new governor as he has ramped up pressure against Chair Jerome Powell recently to cut interest issues outnumbered advancers by a 2.17-to-1 ratio on the NYSE, and by a 2.69-to-1 ratio on the S&P 500 posted eight new 52-week highs and 29 new lows, while the Nasdaq Composite recorded 29 new highs and 202 new on U.S. exchanges was 19.51 billion shares, compared with the 18.44 billion average for the full session over the last 20 trading days.
