Friday, January 22, 2021

Dimon's Millions


Jamie Dimon, the billionaire boss of JP Morgan was paid $31.5m in 2020, the bank announced.

JP Morgan paid Dimon a salary of $1.5m, a $5m cash bonus and $25m of restricted stock tied to performance. Dimon has a fortune at $1.7bn.

 He warned that the excesses of capitalism are threatening the foundation of society. In 2019 he told CBS’s 60 Minutes that income inequality is a “huge problem” but dodged questions about his own salary.

He later stated that “A big chunk of [people] have been left behind. Forty per cent of Americans make less than $15 an hour. Forty percent of Americans can’t afford a $400 bill, whether it’s medical or fixing their car. Fifteen per cent of Americans make minimum wages, 70,000 die from opioids [annually].”

We are not surprised that he asserted that socialism was not the answer, saying it produces “stagnation, corruption and often worse”. What else would you expect from a billionaire.

JP Morgan boss Jamie Dimon is paid $31.5m after decrying income inequality | Jamie Dimon | The Guardian

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