Latest news with #Acquired
Time of India
5 days ago
- Business
- Time of India
JPMorgan Chase CEO Jamie Dimon snubbed Amazon's Jeff Bezos job offer. The real reason will surprise you
Sharing an interesting anecdote from the late 1999, 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.
Time of India
22-07-2025
- Business
- Time of India
JP Morgan Chase CEO Jamie Dimon reveals when he received a job offer from Amazon founder Jeff Bezos and why he said no
JPMorgan Chase CEO Jamie Dimon has shared an interesting anecdote from late 1999. Dimon revealed that Amazon founder Jeff Bezos offered him a job at Amazon and he nearly left Wall Street behind to take it. However, ultimately Dimon decided to not accept the offer, citing the significant personal and professional shift it would have entailed. Speaking at a recent podcast, Dimon revealed about his meeting with Bezos in Seattle. He mentioned that during that time Bezos was looking for a company president for its e-commerce platform — Amazon. When JP Morgan Chase CEO received job offer from Amazon founder Jeff Bezos Speaking on the Acquired podcast recently, JP Morgan Chase CEO Jamie Dimon revealed a moment he shared with Amazon founder Jeff Bezos in 1999. Dimon recalled that he met Bezos in Seattle over a cup of coffee. During the meeting Bezos offered him a job at Amazon. Dimon added that at that time Bezos was looking for a president for his e-commerce platform — Amazon. Dimon light-heartedly joked about the lifestyle change, envisioning 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." Despite their friendship, Dimon declined the offer. The seasoned banker had valid reasons for his hesitation. In late 2000, Amazon's market capitalisation was a mere $5 billion, a stark contrast to its current valuation as a $2.4 trillion. What happened next After returning home, Dimon started seriously working on his next move and he fielded offers from global investment banks, insurance agent AGI via a call from Hank Greenberg and event Home Depot, whose founders pitched him despite Dimon admitting he'd never stepped inside one of their stores. But the call that stuck came from a headhunter representing Bank One. It was a Chicago-based lender and was struggling to build business. Despite a warning from analysts Mike Mayo that 'even Hercules couldn't fix it,' Dimon saw an opportunity to rebuild. Dimon 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.' His decision to stay in banking led to his eventual rise as CEO of JPMorgan Chase. JP Morgan Chase CEO's investment mantra Jamie Dimon also shared his investment mantra. He says, 'Don't blow up.' With this principle in mind he guided JPMorgan's risk culture. In another interview, Dimon talked about buying his first stock at age 14 in 1972—only to watch the market plunge 45% within two years. That early lesson, he said, taught him to 'always factor the invisible risks.' AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Insider
17-07-2025
- Business
- Business Insider
Jamie Dimon has total dad hobbies
Jamie Dimon prioritizes family, country, and JPMorgan, with hobbies like hiking and barbecuing. Dimon, 69, said he plans to lead JPMorgan as long as he has the energy for it. Dimon's hobbies are simpler compared to some of his Wall Street peers. In an episode of the "Acquired" podcast released on Wednesday, JPMorgan's CEO said that he was taught to always have a purpose. His "hierarchy" of priorities is family — he has three adult daughters and several grandchildren — country, and working at the bank. Besides that, he has a list of dad-style hobbies. "One of my daughters said, 'Dad, you need some hobbies.' And I said, 'I do. Hanging out with you, family travel, barbecuing, wine,'" Dimon said. He added that his family now likes whiskeys and that he loves to read and learn history. He said that he cannot play tennis anymore because of his back, but he goes hiking. "I don't buy fancy cars and stuff like that, but this gives me purpose in life beyond family and beyond country," Dimon said. He also said that he can't imagine playing golf. Dimon, 69, is frequently asked about his retirement plans and what succession at the $800 billion bank could look like. As he usually does, Dimon saidon the podcast that he plans to lead the bank as long as he has the "energy" for it. Still, he shared what he might do when he's no longer at JPMorgan. "When I'm done with this, I don't know, I'll teach and write. I may write a book like Andrew Russin did," he said, referring to another asset manager. "But I have got to do something. And I'm not going to twiddle my thumbs and smell the flowers." A representative for Dimon did not respond to a request for comment from Business Insider. Dimon's mainstream American dad hobbies are a contrast from some Wall Street execs' quirky pastimes. Goldman Sachs' CEO, David Solomon, likes toDJ. Solomon has released remixed tracks through his Instagram account and Spotify. Before 2023, he performed half a dozen times a year, often at high-profile events like Lollapalooza. Ray Dalio, who founded Bridgewater Associates, said he practices transcendental meditation and is an avid hunter, including large wild animals in Africa.
Business Insider
17-07-2025
- Business
- Business Insider
Jamie Dimon has total dad hobbies
When he's not in JPMorgan's boardroom, Jamie Dimon says he is out hiking and barbequing. In an episode of the "Acquired" podcast released on Wednesday, JPMorgan's CEO said that he was taught to always have a purpose. His "hierarchy" of priorities is family — he has three adult daughters and several grandchildren — country, and working at the bank. Besides that, he has a list of dad-style hobbies. "One of my daughters said, 'Dad, you need some hobbies.' And I said, 'I do. Hanging out with you, family travel, barbecuing, wine,'" Dimon said. He added that his family now likes whiskeys and that he loves to read and learn history. He said that he cannot play tennis anymore because of his back, but he goes hiking. "I don't buy fancy cars and stuff like that, but this gives me purpose in life beyond family and beyond country," Dimon said. He also said that he can't imagine playing golf. Dimon, 69, is frequently asked about his retirement plans and what succession at the $800 billion bank could look like. As he usually does, Dimon said on the podcast that he plans to lead the bank as long as he has the "energy" for it. Still, he shared what he might do when he's no longer at JPMorgan. "When I'm done with this, I don't know, I'll teach and write. I may write a book like Andrew Russin did," he said, referring to another asset manager. "But I have got to do something. And I'm not going to twiddle my thumbs and smell the flowers." A representative for Dimon did not respond to a request for comment from Business Insider. Dimon's mainstream American dad hobbies are a contrast from some Wall Street execs' quirky pastimes. Goldman Sachs' CEO, David Solomon, likes to DJ. Solomon has released remixed tracks through his Instagram account and Spotify. Before 2023, he performed half a dozen times a year, often at high-profile events like Lollapalooza. Ray Dalio, who founded Bridgewater Associates, said he practices transcendental meditation and is an avid hunter, including large wild animals in Africa.
New York Times
16-07-2025
- Business
- New York Times
Has Private Credit Peaked? Dimon Warns It May Have.
Andrew here. I made a cameo at the live taping of the 'Acquired' podcast at Radio City Music Hall on Tuesday, where Jamie Dimon of JPMorgan Chase was quizzed about his remarkable history at the banking giant. But what you should pay attention to are the comments Dimon made about the stock market — 'asset prices are rather high,' he said — and his concerns about private credit. More on that below. We're also taking a look at what Tuesday's data on consumer prices means for the Fed, at Zohran Mamdani's meeting with top New York C.E.O.s and at the crypto industry's continued relief from Washington. JPMorgan's private-credit worries JPMorgan Chase's C.E.O., Jamie Dimon, has been fairly consistently skeptical when it comes to private credit, the nontraditional and less-regulated lending business that has been among Wall Street's hottest activities in recent years. He kept up that concern on Tuesday, warning that such lending might be set for a decline. But he wouldn't completely shut the door on buying a provider of such loans as part of an effort to get back into the sector. 'You may have seen peak private credit,' Dimon told analysts on JPMorgan's earnings call with analysts on Tuesday, with the caveat, 'I don't know that.' When pressed by Mike Mayo, a banking analyst at Wells Fargo, he added: 'Well, I've mentioned that credit spreads are very low. It's grown dramatically over time, and you have to pay up a lot for it.' In other words, private-credit firms are currently accepting relatively little return in exchange for taking on risk, and the industry has grown significantly in the past several years. At a taping of the 'Acquired' podcast at Radio City Music Hall later in the day, Dimon called private credit 'one place that people worry has unknown leverage.' Want all of The Times? Subscribe.
