Jamie Dimon Says He Did not Run for President Due to His Household

• Jamie Dimon mentioned that whereas he “would by no means rule it out,” working for president is hard.
• The JPMorgan CEO mentioned in a podcast that being president would imply being away from his household.
• “Some persons are ready for that, I used to be unprepared for it on the time,” Dimon mentioned.

Jamie Dimon, the CEO of JPMorgan Chase, mentioned his household was one purpose he didn’t run for president.

“I inform individuals, had I run and gained, once I was strolling into that White Home, I might be waving goodbye to my household for 4 years. They’d be saying, ‘See ya, dad,'” Dimon informed David Novak on the most recent episode of the “How Leaders Lead” podcast, which aired on January 30. “I am unsure my spouse would have gone with me, there.”

Dimon added that the presidency means “subjecting your loved ones to some very powerful stuff.”

“Some persons are ready for that, I used to be unprepared for it on the time,” Dimon mentioned.

Dimon mentioned that whereas he “would by no means rule it out,” working for president can be troublesome for him due to different causes, too.

“I do assume there are abilities that individuals have within the enterprise world which will translate to the political world, however I feel it is a mistake to mechanically assume that is true,” Dimon mentioned, including that he did not assume he had the required political abilities to make the transition.

That is on high of the expertise one ought to accrue from smaller political appointments earlier than gunning for the presidency, Dimon informed Novak.

“I actually assume you need to sort of have a warm-up earlier than you go for president. A warm-up might be Congress, or Senate, or governor,” Dimon mentioned. “You’ve gotten seen individuals be taught these abilities earlier than you go for the massive enchilada.”

Operating for president would additionally imply having to surrender his job at JPMorgan, which he enjoys, Dimon mentioned.

“I am rattling pleased with it so — I feel I add lots right here. I might be giving that up for sort of a wild goose chase,” Dimon mentioned.

Dimon’s age and well being had been additionally components in his resolution.

“I feel it is arduous. I am 68 years previous. As you recognize, I’ve had a well being downside or two. So whenever you put it collectively, it simply did not seem to be the proper factor for me to do,” Dimon mentioned.

In 2014, JPMorgan mentioned Dimon had been identified with throat most cancers, although it went into remission after remedy. In 2020, Dimon had one other well being scare — he was rushed to the hospital for emergency coronary heart surgical procedure.

Representatives for Dimon at JPMorgan didn’t reply to a request for remark from Enterprise Insider.

This is not the primary time Dimon has been requested about his political ambitions. The 68-year-old banker mentioned at an traders assembly in Might that his retirement timeline was “not 5 years anymore,” and {that a} plan to call his successor was “effectively on its approach.”

Then, in October, Dimon informed analysts in an earnings name that he had no plans to hitch President Donald Trump’s second administration if he was supplied a task.

“I feel the prospect of that’s nearly nil, and possibly I am not going to do it,” Dimon mentioned.

“I intend to be doing what I am doing — I nearly assure I will be doing this — for an extended time frame, or at the least till the board kicks me out,” he added.