Lee Moran
Thu, November 6, 2025
Jamie Dimon, the CEO of JPMorgan Chase, on Wednesday explained why the country’s largest bank hasn’t — and won’t — be donating to the construction of President Donald Trump’s lavish new $300 million White House ballroom.
Several major corporations, including Amazon, Apple, Coinbase, Google, Microsoft and T-Mobile, have contributed toward the controversial project, which replaced the East Wing that was razed last month.
But JPMorgan Chase isn’t among them.
“We have an issue, OK?” Dimon told CNN’s Erin Burnett. “Which is anything we do, since we do a lot of contracts with governments here and around the world, we have to be very careful how anything is perceived — and also how the next DOJ is going to deal with it.”
“So we’re quite conscious of the risk we bear by doing anything that looks anything like buying favors or anything like that,” he continued. “We also have policies that we don’t do certain things because it just makes it easier for us.”
The bank has previously supported presidential inaugurations, said Dimon, which is something “a lot of companies did,” he explained. But this situation is different, given the optics, he added. It gave $1 million to Trump’s second-term inauguration fund, but nothing to Joe Biden’s in 2021.
Dimon, whose net worth Forbes estimates at $2.7 billion, reportedly privately supported Democratic nominee Kamala Harris in the 2024 election, although he stopped short of making a public endorsement.
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