JPMorgan Chase CEO Jamie Dimon and Tesla chief Elon Musk, once adversaries in a prolonged legal battle, have settled their differences, the banker told CNBC in an interview on Wednesday.

Jamie Dimon, the billionaire head of the U.S.’ biggest bank, lauded Tesla CEO Elon Musk, the richest man on the planet and a key part of President Donald Trump’s administration, on Wednesday, squashing a long-running beef between the billionaires’ companies as Dimon becomes the latest billionaire warming to Musk or Trump.

JPMorgan CEO Jamie Dimon said he and Elon Musk “hugged it out” and put aside nearly a decade of tense interactions thanks to a conversation the pair had at a conference last year.

Jamie Dimon’s comments follow JPMorgan’s decision late last year to drop a case filed against Tesla in 2021, which had sought $162.2 million plus fees over a dispute regarding stock warrant transactions.

“Elon and I hugged it out,” Dimon said. “He came to one of our conferences. He and I had a nice, long chat. We settled some of our differences.”

Jamie Dimon, the CEO of JPMorgan Chase, publicly backed Elon Musk’s leadership of the newly created Department of Government Efficiency (D.O.G.E) today.

Jamie Dimon said that he and Elon Musk settled their differences. This seemingly concluded their row, sparked by a legal fight between JPMorgan and Tesla.

Jamie Dimon’s praise for Musk was effusive. “The guy is our Einstein,” he remarked, emphasising Musk’s contributions through companies like Tesla and SpaceX. He added, “I’d like to be helpful to him and his companies as much as we can.

JPMorgan Chase CEO Jamie Dimon says he no longer has any hard feelings toward Elon Musk after lawsuits between the bank and Musk-led Tesla previously interfered with their relationship. "He came to one of our conferences,