While most major financial institutions openly lean to the left, the top boss of America’s biggest bank recently took a clear shot at the extremism that has come to dominate the Democratic Party in recent years.
Jamie Dimon didn’t mince any words when he took on today’s leftist push for identity politics under the guise of “diversity, equity, and inclusion” before he dug into the recent primary win by “Marxist” New York City mayoral candidate Zorhan Mamdani.
As the New York Post reported, Dimon was in Ireland when he spoke out against the Democratic Party’s current trajectory:
“I have a lot of friends who are Democrats, and they’re idiots,” he said.
ADVERTISEMENT“I always say they have big hearts and little brains,” Dimon added. “They do not understand how the real world works. Almost every single policy rolled out failed.”
Dimon previously said JPMorgan would cut spending on DEI initiatives but affirmed a commitment to working with black, Hispanic and LGBTQ communities.
“We all were devoted to reaching out to the black community, Hispanic, the LGBT community, the disabled — we do all of that. But the extent, they gotta stop it. And they gotta go back to being more practical. They’re very ideological,” Dimon said in Ireland.
A number of other major institutions and companies also slashed spending on DEI programs as the Trump administration ushered in a new era after years of blatant corporate activism:
DEI died on November 5th… It is being replaced by MEI, "Merit, Excellence, and Intelligence."
About time!! pic.twitter.com/zuUDNjdnpF
— David J Harris Jr (@DavidJHarrisJr) November 26, 2024
T-Mobile scraps DEI programs while seeking crucial FCC approval for major business deals https://t.co/434aeSJDFW pic.twitter.com/kKT0nzMNM7
— New York Post (@nypost) July 10, 2025
T-Mobile is ending its DEI programs under pressure from the Trump administration as it seeks approval for major mergers. In a letter to the FCC, the company said it’s cutting DEI “in substance,” including removing roles, training, and web references.
(via @USATODAY) pic.twitter.com/e38e1JTAKJ
— REVOLT Black News (@revoltblacknews) July 10, 2025
And plenty of other prominent business leaders have joined Dimon in speaking out against Mamdani’s agenda, as the Wall Street Journal reported:
A new independent expenditure group named “New Yorkers for a Better Future Mayor 25” is launching a campaign against Mamdani, with at least $20 million, according to people familiar with the plans. A form filed to the New York State Board of Elections shows the group registered to be active in New York on Tuesday.
It is far from the only group that donors are mobilizing to defeat Mamdani, with several more targeting millions of dollars. Those considering funding, or raising money, include some of the biggest names in politics, including Pershing Square CEO Bill Ackman and former Trump adviser and New York City Mayor Rudy Giuliani.
ADVERTISEMENT“How do we stop this guy?” said Bo Dietl, who’s planning on raising about $10 million with Giuliani through a separate group. “No one’s dealing with him. In the polls, he’s getting so much attention, and none of these other candidates are stepping up.” Giuliani didn’t respond to requests seeking comment.
Here’s some of the latest coverage of Mamdani’s bid to replace current Democratic Mayor Eric Adams:
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