Jamie Dimon’s net worth: Is it lower after Jeffrey Epstein accusations?
Jamie Dimon has a sterling professional reputation. He’s been the chairman and chief executive officer of JPMorgan Chase since 2005, and was listed among Time’s most influential people in the years 2006, 2008, 2009, and 2011. Unfortunately, Dimon’s association with convicted pedophile Jeffrey Epstein has permanently tainted his name.
Dimon was recently accused of being complicit in Epstein’s sex trafficking scheme, and keeping monetary transactions that would have otherwise been flagged as suspicious under wraps. These accusations have been made by Mimi Liu, an attorney for the U.S. Virgin Islands, where Epstein’s Little Saint James is located.
Many have wondered whether the association with Epstein has hurt Dimon’s career prospects and his impressive net worth. Learn more about the current state of his affairs here.
Rise to power
Dimon majored in psychology and economics at Tufts University, where he graduated summa cum laude. Afterwards, he worked as a management consultant at Boston Consulting Group. He eventually enrolled at Harvard Business School, where he graduated with an MBA as a Baker Scholar in 1982. Dimon took over the consumer finance company Commercial Credit and turned it into CitiGroup. He stayed with CitiGroup until 1998, when he was asked to resign by CitiGroup co-founder Sandy Weill.
Undeterred, Dimon found greater success as the chairman and chief executive officer of JPMorgan Chase. In 2014 it was announced that he would receive $20 million for his work in 2013, which proved to be a record-breaking profit year for the company. Dimon has also been involved with some historical transfers.
He oversaw the transfer of $25 billion in funds from the U.S. Treasury Department to the bank on October 28, 2008. The transfer was approved by the Troubled Asset Relief Program (TARP), and was the fifth-largest amount ever transferred by the organization. In dealing with amounts like these, it’s no wonder Dimon was considered an influential figure.
Things got messy for Dimon when it was revealed that he had been working consistently with Epstein. The convicted pedophile was a JPMorgan Chase client from 2000 to 2013, and Mimi Liu argues that any legal red tape he should have run into was handled by Dimon. “They broke every rule to facilitate his sex trafficking in exchange for Epstein’s wealth, connections and referrals,” she claimed.
Liu, who represents the U.S. Virgin Islands has called Dimon “a likely source of relevant and unique information” about why JPMorgan kept Epstein as a client, despite the numerous accusations and red flags that had sprung up over the years. The going theory is that Epstein provided Dimon with a list of high-profile referrals and clients, though none of this is substantiated.
A representative for JPMorgan has disputed the claims made against Dimon, “in particular the point about Jamie Dimon having any specific knowledge.” The financier has not personally addressed them.
Current net worth
A U.S. judge has ordered JPMorgan Chase to hand over documents regarding Dimon to the U.S. Virgin Islands to aid in their investigation. That being said, Dimon is not named as a defendant in the suit, and he has not had to pay any legal fees.
According to Celebrity Net Worth, Dimon has an estimated net worth of $2 billion. This will likely be maintained throughout the U.S. Virgin Islands case, unless new evidence is uncovered that directly links Dimon to Epstein and Epstein’s bank transactions.
Such a staggering amount would take to deplete, and given Dimon’s long-standing financial power, we don’t see that happening anytime soon.