JPMorgan Chase CEO Jamie Dimon slammed Zohran Mamdani as “more a Marxist than a socialist” — and also lashed out at “idiots” in the Democratic Party who focused too much on DEI and not enough on real-world policies.
The head of the nation’s largest bank warned against voting for Mamdani, who won the Democratic primary for New York City mayor while pushing for a rent freeze, free buses and city-owned grocery stores.
“This guy just got elected – he’s more of a Marxist than a socialist, and now you see these Democrats falling all over themselves saying, ‘Well, he’s pointing out some real problems, affordable housing and grocery prices,’” Dimon said Thursday during an event in Dublin, Ireland.
Mamdani, who handily defeated former Gov. Andrew Cuomo last month, relies on “the same ideological mush that means nothing in the real world,” Dimon argued.
Dimon’s disdain for Mamdani’s emergence as a likely front-runner to win City Hall echoed that of billionaire investor Bill Ackman and other Wall Street titans.
The panic over a Marxist takeover has led to the formation of a group called “New Yorkers for a Better Future Mayor 25,” which is rushing to raise $20 million to fund an anti-Mamdani campaign, the Wall Street Journal reported Thursday.
Mamdani is attempting to squash some of the outrage with plans to attend an event hosted by pro-business group Partnership for New York City – whose board includes Dimon.
Mamdani’s campaign did not immediately respond to The Post’s request for comment.
Dimon also had harsh words for the left’s full-fledged push on controversial Diversity, Equity and Inclusion policies, arguing “they overdid” at the event hosted by the Department of Foreign Affairs.
“I have a lot of friends who are Democrats, and they’re idiots,” he said.
“I always say they have big hearts and little brains. They do not understand how the real world works. Almost every single policy rolled out failed.”
America’s top banker also took aim at former President Joe Biden for not having “one business person” advising him, adding that he was “speechless about the lack of knowledge” in the previous administration.
Dimon previously announced JPMorgan would slash spending on diversity initiatives while remaining committed to working with black, Hispanic and LGBTQ communities.
“We all were devoted to reaching out to the black community, Hispanic, the LGBT community, the disabled — we do all of that. But the extent, they gotta stop it. And they gotta go back to being more practical. They’re very ideological,” Dimon said Thursday.
JPMorgan declined to comment on the chief executive’s scathing remarks.
Earlier this year, JPMorgan and several other Wall Street banks scrubbed DEI language from their websites soon after President Trump took office, according to the Wall Street Journal.
Dimon had previously supported DEI policies, even apparently taking a knee with branch staffers in a photograph amid widespread racial justice protests. JPMorgan has insisted that Dimon was simply bending down for the picture.
Dimon did order a review of the bank’s policies after the Supreme Court’s 2023 ruling that overturned affirmative action, according to The Post’s Charles Gasparino.
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