TSLA - Elon Musk-Jamie Dimon Ending Years-Long Feud? Report Says Billionaire's Attendance At JPMorgan's March Tech Conference Paved The Way For Truce | Benzinga
Tesla, Inc.’s (NASDAQ:TSLA) Elon Musk and JPMorgan Chase & Co.’s (NYSE:JPM) Jamie Dimon, two of the world’s most influential CEOs, may have ended a nearly decade-long bitter feud and are pushing toward a more cordial relationship, Wall Street Journal reported on Sunday.
What Happened: Musk and Dimon have been striving for a brand new start since March, when the former attended the inaugural JPMorgan technology conference and shared the dais with the latter, the report said. Musk’s businesses, including Tesla and SpaceX, ceased their dealings with JPMorgan after a fallout in 2016. Additionally, the Dimon-led bank did not pursue any of Musk’s ventures, it added.
In 2016, Musk reportedly sought JPMorgan to underwrite leases for Tesla’s electric vehicles, but the bank’s executives dithered as they were unsure of how to value the life of the car batteries. This infuriated Musk, who promptly called the bank’s head of consumer banking and threatened to pull Tesla’s business. Dimon stepped in and made it clear to ...