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.

JPMorgan Chase CEO Jamie Dimon said Wednesday that he and Tesla CEO Elon Musk have “hugged it out” and resolved their differences, after Dimon’s bank sued the tech billionaire’s electric vehicle

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

“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.”

The financial giant has disgruntled workforce and has a potential unionization on its hands as it forces staff into the office five days a week.

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"Elon and I have hugged it out," Dimon said, while praising Musk for running multiple high-profile companies such as Tesla, SpaceX and Neuralink.

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.

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.

Donald Trump will talk to Fox News’ Sean Hannity tonight for his first sit-down interview since his inauguration. A clip of their conversation includes a moment when Trump muses that it’s “sad” that former President Joe Biden did not pardon himself.