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Jamie Dimon laments income inequality, won’t assail CEO pay

“I think the wealthy have been getting wealthier too much, in many ways,” Dimon said.

Bloomberg|
Nov 12, 2019, 09.50 AM IST
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JPMorgan Chase Chief Executive Officer Jamie Dimon called US income inequality a “huge problem,” but he stopped short of saying America’s top executives were being paid too much.

In an interview, Dimon said he is optimistic about the economy and admitted that his high-profile job made him a target of some criticism. But asked whether his compensation – about $31 million in total for 2018 – was too high, he said: “The board sets mine. I have nothing to do with it,” referring to the bank’s directors.

In an interview with CBS correspondent Leslie Stahl, Dimon agreed that income inequality was damaging to the country, especially for those whose earnings have stagnated as CEO pay has skyrocketed.

“I think the wealthy have been getting wealthier too much, in many ways,” Dimon said. “So middle-class incomes have been kinda flat for maybe 15 years or so, and that’s not particularly good in America.”

Pressed by Stahl, who suggested he could return some of his own pay as an example, Dimon said, “I could. Is that gonna to solve any of those problems?”

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