The trillion-dollar man
Jamie Dimon is getting closer to retirement. He will go down as one of the best bankers of the modern era.
Finance | Jamie Dimon has done an incredible job
Last year, JPMorgan Chase, a prominent American bank, reported the fattest annual profit of any bank in the country's history. The financial behemoth made $49.6bn in after-tax profit, or more than $1,500 per second. Unsurprisingly, the bank's long-serving boss, Jamie Dimon, got a raise from the board. Last year, the bank paid him $36m, comprising $1.5m in salary, $5m in cash, and $29.5m in shares.
As he's earned and bought so much JPMorgan stock during his tenure, he's now a billionaire. Heβs also probably getting ready to retire soon. For the first time, he started to sell some of his JPMorgan stock last year. But what has his record been like, and does he deserve the cash he got? Jamie Dimon's record at JPMorgan can be described in one word: outstanding.
The first reason Mr Dimon's record has been so good is that he's overseen incredible, industry-leading shareholder returns. Consider this: if you had bought the bank when he became the bβ¦