JPMorgan CEO Jamie Dimon’s Windfall
Jamie Dimon, the CEO of JPMorgan, is reported to have earned a remarkable $770 million last year. This impressive gain comes as top bankers in the U.S. celebrated rising stock prices, a comeback in mergers and acquisitions, and efforts from the Trump administration to simplify regulations.
The 69-year-old banking veteran’s earnings, which include a mix of base salary, bonuses, stock options, and dividends, were significantly enhanced by a 34% increase in the bank’s stock price over the year. The New York Times mentioned this, but didn’t clarify how they arrived at that extensive figure.
Should this figure be accurate, it would boost Dimon’s net worth to levels comparable to major New York hedge funds and tech entrepreneurs from Silicon Valley.
Last year, Dimon’s total compensation reached $39 million, which is over an 8% increase from 2023. This amount included a base salary of $1.5 million, a cash bonus of $5 million, and a performance-related stock award of $32.5 million.
According to the Times, other CEOs, like Citi’s Jane Fraser and Goldman Sachs’ David Solomon, are projected to earn up to $100 million in 2025. For context, both Citi and Goldman Sachs saw substantial stock price increases last year, with gains of 65% and 53% respectively.
Representatives from JPMorgan, Goldman Sachs, and Citi opted not to comment on these reports.
Typically, JPMorgan discloses its CEO’s salary when announcing full-year results early in the new year. The megabanks on Wall Street are set to reveal their 2025 performance numbers on January 13th.
Dimon has often voiced concerns regarding regulations meant to ensure banks can withstand financial crises, which would require them to increase their capital reserves. This regulation, known as Basel III, suggests that large banks should bolster their emergency funds by 9%.
Interestingly, the Trump administration has taken steps towards looser antitrust measures and has delayed stricter capital requirements that would mandate banks to hold more liquid assets as a cushion against potential losses.
Moreover, U.S. regulators are pulling back from global efforts to finalize these updated standards, which would enable banks to allocate more capital towards lending and trading activities.
