JPMorgan Chase & Co. CEO and his family sold their shares worth $150 million, according to a US Securities and Exchange Commission filing.
Jamie Dimon, 67, who became CEO of the banking company in 2005, had announced last year that he and his family will sell one million shares as per terms of a stock trading plan.
“Mr. Dimon continues to believe the company’s prospects are very strong and his stake in the company will remain very significant,” the company said in its filing in October 2023.
Dimon and his family sold around 8,22,000 shares this Thursday. They still have holdings of about 7.7 million shares in the New York firm.
When Dimon took over as CEO 18 years ago, JPMorgan stock was trading at $40 per share. And when he sold the shares on Thursday, it was worth $183 per share.
What is Jamie Dimon's net worth?
Dimon's net worth was reported to be $2.1 billion, as of February 24, 2024, ranking 1,502nd in the list of world's richest people. according to Forbes. He unloaded $12 billion of subprime mortgages in 2006 to buffer his bank against the 2008 crash.