Boss of JP Morgan Chase more than double his money

Money

The boss of JP Morgan Chase has more than doubled his money after betting on the success of his bank two years ago when shares around the world were tanking.

Jamie Dimon bought 500,000 JP Morgan shares in February 2016 for £19m.

In the money: Jamie Dimon, pictured with wife Judith, owns more than 11m JP Morgan shares, worth around £900m

In the money: Jamie Dimon, pictured with wife Judith, owns more than 11m JP Morgan shares, worth around £900m

In the money: Jamie Dimon, pictured with wife Judith, owns more than 11m JP Morgan shares, worth around £900m

His investment followed a 20 per cent fall in the value of the firm’s shares amid fears over the health of the global economy and banking system. 

But the shares have more than doubled since Dimon’s purchase, netting him £21m.

Dimon, 61, owns more than 11m JP Morgan shares, worth around £900m.

Chris Beauchamp, market analyst at City trading firm IG, said: ‘It was a great investment. Buying when others are selling is often a rewarding approach.’

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