By Eric Mack | Thursday, 06 November 2025 10:49 AM EST
A democratic socialist is set to lead New York City with the election of Mayor-elect Zohran Mamdani, but JPMorgan Chase CEO Jamie Dimon indicated he would be willing to engage with the new mayor.
Dimon told CNN on Wednesday night that he had reached out to Mamdani but had yet to receive a response, stating, “If I find it productive, I’ll continue to do so.” He emphasized his focus on practical outcomes over ideological labels, noting, “I want to lift up all citizens,” while criticizing past leaders for failing to deliver results due to poor implementation.
Dimon acknowledged Mamdani’s youth and potential for growth, saying, “He’s a young man… Will he get good at it? I see a lot of people in big jobs… they grow into it.” However, he dismissed claims that New York City faces an exodus, asserting, “People have left New York City,” and warned against relocating businesses based on political shifts.
The CEO stressed that cities must compete for economic success, arguing, “No city has divine right to success. There are great cities everywhere.” He criticized the notion of leaving New York as a political statement, urging focus on measurable improvements in crime, education, and healthcare rather than ideological debates.
Dimon also rejected the idea that capitalism or socialism alone defines policy failures, stating, “It’s not necessarily capitalism… It’s bad policy, badly executed.” He called for pragmatic solutions like doubling the earned income tax credit to address systemic issues.
Eric Mack has been a writer and editor at Newsmax since 2016.
