Donald Trump stirred controversy on Friday with a social media post claiming that JP Morgan Chase CEO Jamie Dimon had endorsed him for the presidency. The post, shared on Trump’s Truth Social platform, showed a purported tweet with a photo of Dimon and a message supporting Trump. However, a representative for Dimon quickly denied the claim.
The post appeared as Trump was en route to Augusta, Georgia, for a campaign event. However, a spokesperson from JP Morgan Chase confirmed that Dimon had not endorsed Trump or any candidate in the 2024 presidential race. Furthermore, Dimon had not contributed financially to Trump’s campaign or that of his Democratic opponent, Kamala Harris.
Despite the immediate denial from JP Morgan, Trump did not remove the post, which had garnered thousands of likes and reposts. When questioned about the false endorsement after landing in Augusta, Trump distanced himself from the post, claiming he was unaware of it. He suggested that one of his aides may have shared it without his knowledge. When pressed further, Trump deflected, saying, "Well, then, somebody is using his name."
This incident is part of a growing pattern of misinformation from Trump’s campaign as the November election approaches. Analysts suggest that Trump’s eagerness to share content that flatters him, regardless of its accuracy, has led to an increase in false claims on his social media.
What makes the Dimon claim significant is Trump’s long-standing admiration for the JP Morgan chief. Dimon, a major figure in corporate finance, became influential after leading the acquisition of troubled banks Bear Stearns and Washington Mutual during the 2008 financial crisis. Trump has often praised Dimon’s success and even considered appointing him as Treasury Secretary if he wins the 2024 election, though he later retracted that idea.
The former president has also pointed to Dimon’s comments during a CNBC interview at the World Economic Summit in Davos, where Dimon complimented certain aspects of Trump's administration, including its economic policies and tax reforms. These remarks were widely shared by Trump and his allies as validation of his leadership.
While Dimon’s words in Davos were viewed as praise by Trump’s team, the recent false endorsement claim highlights the delicate relationship between politics and business endorsements in a tense election cycle.
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