JPMorgan CEO Dimon Blasts Democrats' DEI Focus, Criticizes Marxist Mayoral Candidate Mamdani

JPMorgan Chase CEO Jamie Dimon sharply criticized the Democratic Party for what he described as an excessive focus on diversity, equity, and inclusion (DEI), claiming these efforts prioritized ideology over practical solutions and resulted in failed policies. Speaking at an event in Dublin, Dimon described many Democrats as having 'big hearts and little brains,' asserting they do not understand how the real world works. He also targeted New York City mayoral candidate Zohran Mamdani, labeling him 'more of a Marxist than a socialist' and warning against supporting his policies, such as rent freezes and city-owned grocery stores. Dimon’s remarks reflect broader concern among business leaders, as some Wall Street figures are mobilizing significant funding to oppose Mamdani's campaign. The criticism comes as Mamdani attempts to address business community concerns and soften his image amid rising backlash. Dimon, who has previously announced JPMorgan would reduce spending on some DEI initiatives, emphasized the need for Democrats to adopt more practical approaches to governance.