Jamie Dimon, the billionaire head of the U.S.’ biggest bank, lauded Tesla CEO Elon Musk, the richest man on the planet and a key part of President Donald Trump’s administration, this week, putting an end to years of head-butting between the billionaires’ companies as Dimon becomes the latest billionaire warming to Musk or Trump.

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. “Elon and I have hugged it out,

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’s comments follow JPMorgan’s decision late last year to drop a case filed against Tesla in 2021, which had sought $162.2 million plus fees over a dispute regarding stock warrant transactions.

“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.”

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.

During an interview Thursday on CNBC, JP Morgan CEO Jamie Dimon said he wants to be as helpful as he can for Elon Musk's quest to make government more efficient. "The government needs to be more accountable.