JP Morgan CEO sells shares in the bank for $150 million

Jamie Dimon, CEO of JP Morgan, sold shares in the American bank for $150 million, in a move that occurred for the first time since he assumed the presidency of the bank in 2005.

The bank had revealed in October 2023 that Dimon and his family intended to sell one million shares out of their total holding of 8.6 million shares as Dimon has 821.77 thousand shares so far.

The market value of JP Morgan is more than $527 billion.

The bank spokesman said that the sale process is not related to leadership succession and that the bank currently has no plans to sell more shares, but it may consider that in the future.

Damon received a salary increase of about 4% last year to $36 million.