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Despite reducing his holdings, Dimon, who has a net worth of $2 billion according to Bloomberg Billionaires Index, remains optimistic about JPMorgan’s strong future prospects. He plans to retain a significant stake after the sale.
Dimon’s leadership tenure of nearly 18 years has seen him guide JPMorgan through the 2008 financial crisis and orchestrate a rescue deal for First Republic Bank (OTC:FRCB), which failed due to deposits spiraling out of control. He could be awarded over 2 million additional shares contingent on his performance and tenure.
Their stake in the largest bank by assets in the nation is valued at $1.21 billion based on Thursday’s closing price. The bank boasts a market capitalization of $408 billion. Despite selling a portion of his shares, Dimon still possesses unvested performance share units and stock appreciation rights, which indicate his continuing faith in the bank’s future.
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