Jamie Dimon Criticizes Zohran Mamdani's Socialist Agenda and DEI Policies.

Jamie Dimon, JPMorgan Chase CEO, criticized New York City mayoral candidate Zohran Mamdani as "more a Marxist than a socialist" and blasted Democrats' focus on diversity, equity and inclusion initiatives, calling them "idiots" with "big hearts and little brains." Dimon urged voters not to support Mamdani, who has pushed for rent freezes and city-owned grocery stores, and criticized Democrats' push for DEI policies, saying they have failed in the real world.

JPMorgan Chase CEO Jamie Dimon has sparked controversy by labeling New York City mayoral candidate Zohran Mamdani as "more a Marxist than a socialist" and criticizing Democrats' focus on diversity, equity, and inclusion (DEI) initiatives. Dimon, who has been a vocal critic of Mamdani's candidacy, urged voters not to support Mamdani, who won the Democratic primary for New York City mayor last month.

Dimon's remarks came during an event in Dublin, Ireland, where he argued that Mamdani's proposals, including a rent freeze and city-owned grocery stores, were "ideological mush that means nothing in the real world." He also criticized Democrats for their emphasis on DEI policies, saying they are "idiots" with "big hearts and little brains" who do not understand how the real world works.

Dimon's comments echoed those of other Wall Street titans who have expressed concern over Mamdani's candidacy. In response to the criticism, a group called "New Yorkers for a Better Future Mayor 25" has been formed to raise $20 million for an anti-Mamdani campaign [1].

Mamdani, who defeated former Governor Andrew Cuomo in the primary, has planned to attend an event hosted by the pro-business group Partnership for New York City, whose board includes Dimon. This move is seen as an attempt to address the growing concern over his candidacy.

Dimon's criticism of DEI policies is not new. He previously supported such initiatives but ordered a review of JPMorgan's policies after the Supreme Court's 2023 decision that ruled against affirmative action in college admissions. Dimon has also taken aim at former President Joe Biden for not having "one business person" advising him, stressing that he was "speechless about the lack of knowledge" in the Biden administration.

JPMorgan and other Wall Street banks pulled DEI language from their websites earlier this year, shortly after President Trump took office. Since then, the bank has affirmed its commitment to working with black, Hispanic, and LGBTQ communities while slashing spending on diversity initiatives [2].

References:
[1] https://www.foxbusiness.com/politics/jamie-dimon-criticizes-zohran-mamdani-marxist-blasts-democrats-dei-push-big-hearts-little-brain
[2] https://nypost.com/2025/07/10/business/jamie-dimon-lashes-out-at-marxist-mamdani-lefts-dei-push-big-hearts-and-little-brains/