Jamie Dimon Biography & Net Worth
|Popular Name:||Jamie Dimon|
|Real Name:||Jamie Dimon|
|Birth Date:||March 13, 1956|
New York City, New York, United States
|Net Worth:||$2 Billion|
Jamie Dimon is a well-known American business executive who is possibly best known for the positions he occupies as the chairman and chief executive officer of JPMorgan Chase, considered one of the top American banks. He previously served on the Federal Reserve Bank of New York’s Board of Directors and has been named in Time magazine’s 2006, 2008, 2009, and 2011 lists of the 100 most influential people in the world. With a net worth of over $1.8 billion, Dimon is one of the few bank executives to become a billionaire, thanks to his brilliance and hard work, and also a $485 million stake in JPMorgan Chase. He received a $23 million pay for the fiscal year 2011, more than any other bank chief executive officer in the United States. However, in 2012, JPMorgan Chase reduced his compensation to $11.5 million following a series of controversial business losses amounting to $6 billion. Dimon has lived an extraordinary life as a business leader and has been influential to the lives and careers of many American youths who identify him as a mentor and role model. He received $29.5 million in fiscal year 2017, and has continued to serve diligently in the roles he plays to date.
Jamie Dimon’s Early Life & Education
Dimon was born on March 13, 1956, in New York City, New York, United States. One of three sons of Theodore and Themis (née Kalos) Dimon who are both Greek immigrants, Dimon attended The Browning School.
His paternal grandfather came to America from Greece and changed the family name from Papademetriou to Dimon so that it would sound more French, and worked as a banker in Athens and Smyrna (now Izmir). He has a fraternal twin brother, Ted, and an older brother, Peter.
Dimon’s father and grandfather were stockbrokers at Shearson. He attended Tufts University where he majored in psychology and economics and graduated summa cum laude. At Tufts, he wrote an essay on Shearson mergers; his mom sent the article to Sandy Weill, who recruited Dimon to work at Shearson during one summer break.
Upon completing his studies at Tufts, Dimon worked in management consulting for almost two years before joining Harvard Business School, along with classmates Seth Klarman, Stephen Mandel, Steve Burke, and Jeff Immelt. He worked at Goldman Sachs during the summer at Harvard, before graduating in 1982, earning an MBA as a Baker Scholar.
After his graduation from Harvard Business School, he was convinced by Sandy Weill to turn down offers from Lehman Brothers, Goldman Sachs, and Morgan Stanley to join him at American Express as an assistant. Although Sandy could not offer a similar amount of money as the investment banks, he promised Dimon that he would enjoy being a part of American Express where Dimon’s father, Theodore Dimon, also worked as an executive vice president.
Career & Professional Life
Theodore Dimon was an executive vice president at American Express when Jamie Dimon joined the firm. Theodore is Jamie’s father, so it was easier for the duo to strike a balanced relationship and work together.
However, both father and son left American Express in 1985. They remained as a unit and worked together to take over the consumer finance company, Commercial Credit from former owners Control Data. Dimon became the company’s chief financial officer (CFO), and in 1998, he left Citigroup.
Bank One is considered to be the fifth-largest bank in the United States. In March 2000, Dimon was appointed as the chief executive officer of this bank. Four years after his appointment, JP Morgan Case came forward and acquired Bank One, and Dimon was selected to serve as the president and chief operating officer (COO) of the newly-formed combined company.
In December 2005, Dimon became the chief executive officer of JPMorgan Chase. The following year, he was named chairman of the board. Under his leadership, JPMorgan Chase attained greater heights and became a leading bank in the U.S. It also became the number one credit card provider in the United States.
In 2011 and 2012, Dimon was elected as the chairman of The Business Council’s executive committee. In 2012, when he encountered a problem related to a trading loss of $6 billion in the “London Whale,” Dimon’s pay package was massively cut. However, he has risen through the ruins and has continued to make waves in the banking industry to this day.
Awards & Achievements
Janie Dimon is regarded as one of the most powerful people in the world of finance. Not only has he made a name and fame from the game, but he has also made a massive fortune for himself and more generations to come. His awards and honors so far include;
- The Browning School Athletic Hall of Fame – 1994
- Golden Plate Award of the American Academy of Achievement – 2006
- The Executives’ Club of Chicago’s International Executive of the Year – 2010
- National Association of Corporate Directors Directorship 100 – 2011
- Intrepid Salute Award – 2012
- Americas Society Gold Medal – 2016
In 2009, the advisory agency known as Brendan Wood International named Dimon as one of “The Top Gun Chief Executive Officers.” For four different times, he has appeared on Time Magazine’s list of the world’s 100 most influential people. He also made it to the Institutional Investor’s lists of the best chief executive officers in the All-America Executive Team from 2008 to 2011.
Personal Life & Family
Jamie Dimon and Judith Kent got married in 1983, and their union has produced three children, all daughters, named Kara Leigh, Julia and Laura.
In 2014, the CEO was diagnosed with throat cancer. He received radiation and chemotherapy for two months until September 2014. He is a supporter and donor to the Democratic Party. It was reported that he misled investors and regulators in the ‘2012 JPMorgan Chase trading loss’, and his penance was a reduction in his pay.
Jamie Dimon Net Worth
Jamie Dimon is known to be one of the most famous and most successful business executives in the world. Following the merger of JP Morgan Chase and Bank One, Dimon climbed up to a leadership position in the new merger. His popularity even made him a character in the film ‘Too Big to Fail’ (2011) where his role was played by Bill Pullman.
As of the time of filing this report, Jamie Dimon’s net worth is approximately $2 billion. His salary of $23 million in 2011 made him the highest-paid chief executive officer in any bank in the United States of America. A third-generation stockbroker who eventually found considerable success after joining Bank One, Jamie Dimon’s stake of $485 million in JPMorgan Chase has also contributed immensely to his wealth. The future holds more surprises for this man, and we can’t wait to witness more of his accomplishments in the finance world.