JPMorgan CEO Jamie Dimon plans to sell a portion of his family’s holdings in the bank for the first time, offloading 1 million of the 8.6 million shares, according to an SEC filing.
JPMorgan Chase chairman and CEO Jamie Dimon will soon sell some of his family’s holdings in the bank for the first time, offloading 1 million of the total 8.6 million shares for "financial diversification and tax-planning purposes," according to a regulatory filing. The sale will give Dimon nearly $141 million, while representing less than 10% of his overall stake, worth roughly $1.07 billion.
Dimon has an estimated net worth of $1.7 billion, according to Forbes, while JPMorgan Chase’s market capitalization tops out at $394 billion, per Thomson Reuters. On Tuesday, Dimon made news by warning against relying on the economic forecasts of central banks like the Federal Reserve, calling their projections "100% dead wrong." The Fed will decide next week on another potential round of interest rate hikes after pausing them for the second time of 2023 in September.
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Jamie Dimon to sell $141 million worth of JPMorgan stock for first timeZachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.
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