Jamie Dimon Plans To Help Elon Musk As Much As He Can: 'The Guy Is Our Einstein'

JPMorgan Chase & Co (NYSE:JPM) CEO Jamie Dimon praised Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Wednesday and indicated that the two billionaires have patched holes in their relationship.

What To Know: In an interview from the World Economic Forum, aired on CNBC's "Squawk Box" Wednesday morning, Dimon confirmed that he and Musk are on good terms.

“Elon and I have hugged it out. He came to one of our conferences. He and I had a nice long chat. We settled some of our differences,” the JPMorgan chief said.

JPMorgan agreed to drop a lawsuit against Tesla last year that alleged a breach of contract involving stock warrant transactions. JPMorgan sought $162.2 million, claiming Tesla breached a contract when JPMorgan adjusted the value of warrants after Musk made a post in 2018 suggesting he would take Tesla private at $420 per share.

Musk was ultimately charged by the SEC with securities fraud. Tesla and Musk both agreed to pay $20 million each, according to CNBC.

Dimon doesn’t appear to have a sour taste in his mouth in regard to his relationship with Musk. Not only did he indicate that he and Musk have worked things out, he went on to praise Musk’s successes at his various companies including Tesla, SpaceX and Neuralink.

“I mean the guy is our Einstein,” Dimon said. “So I’d like to be helpful to him and his companies as much as we can.”

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Dimon also suggested that he would like to help Musk in his new budget-cutting role with the Department of Government Efficiency, also known as DOGE.

"We deserve good government … government needs to be more accountable, it needs to be more efficient, it should be outcomes-based … so I wish them the best. It's going to be complicated, you know, the federal government's complicated,” Dimon said.

“If we can be helpful to them, then I’d love to be helpful to them.”

JPMorgan shares were down 0.43% at $261.90 at the time of writing Wednesday, according to Benzinga Pro.

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Photo via Benzinga/Dustin Blitchok