Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Cramer: Jamie Dimon, when questioned about $31 million pay, should have said he's worth it

Cramer: Jamie Dimon, when questioned about $31 million pay, should have said he's worth it

J.P. Morgan Chase CEO Jamie Dimon should have stood up for his 2018 pay of $31 million, CNBC’s Jim Cramer says. “I would’ve said, ’Look I know you think that I may be overpaid but I do point out that others have shared in the wealth,” the “Mad Money” host says. Dimon, in a “60 Minutes” interview, “didn’t make a good case for himself,” Cramer says.
J.P. Morgan Chase CEO Jamie Dimon should have defended his 2018 $31 million compensation during his recent “60 Minutes” interview, CNBC’s Jim Cramer argued Monday.

Dimon, in an interview that aired Sunday on the CBS show, was asked if his pay package last year was too high. Dimon sharply responded that the board of directors sets his pay and he has “nothing to do with it.”

“Why didn’t Jamie say, ‘Well one of the things I’ve done is triple the value of the stock, and so shareholders have benefited,’” Cramer said on “Squawk on the Street.”

The “Mad Money” host continued that Dimon, who became CEO in late 2005, should have said, “Shareholders have been rewarded, and therefore the board has rewarded me. I have created a lot of wealth for people in the stock, or my team has.”

“You’re asking [Dimon] to say he’s worth it?” CNBC’s Carl Quintanilla asked Cramer.

“Yes, exactly right. I would’ve said that if I were him,” Cramer said. “I would’ve said, ‘Look I know you think that I may be overpaid but I do point out that others have shared in the wealth. I bought back stock at the right level; I got the earnings to be good.’ He didn’t make a good case for himself.”

CBS’ Lesley Stahl followed up Dimon’s response that the board sets his pay by asking the bank executive why he doesn’t return some of it.

“I could. Is that going to solve any of those problems?” responded Dimon, who said earlier in the interview that he believes wealth inequality in the U.S. is a “huge problem.”

Dimon said he believes the way to reduce inequality is through a more equitable tax system, arguing that he would not have cut taxes on the rich, likely a reference to the 2017 Tax Cut and Jobs Act championed by President Donald Trump and Republicans on Capitol Hill.

While acknowledging executive compensation in some cases “is a little crazy,” Cramer said it should be noted that Dimon sets a good example through his job performance. “There are people who make a lot of money who don’t do well for shareholders, and there are ones who do well, and it should be factored in.”

“Isn’t the problem the executives who are paid a lot who don’t make money for shareholders?” he concluded.

In the last 40 years, top corporate executives have seen their pay increase by more than 1,000%, nearly 100 times the rate of average workers, according to a recent study. A Gallup poll in 2018 found 47% of Americans favor government action to limit executive pay.

The Dimon-Stahl exchange was the latest flashpoint in a public debate over executive compensation and the broader debate over the ever-widening wealth gap in America. It’s a hot-button issue in the Democratic presidential race, with most candidates looking for the rich to pay more and Sens. Elizabeth Warren and Bernie Sanders both pushing different versions of a wealth tax.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×