They have been pushing for him too hard. But now the management of the major bank JP Morgan is calling Tesla CEO Elon Musk 'the Einstein of our time'.
JP Morgan, one of the world's largest banks, has changed its stance on Tesla CEO Elon Musk. After years of legal battles and public criticism, the bank's CEO, Jamie Dimon, now refers to Elon Musk as a genius on par with Einstein.
The relationship between JP Morgan and Elon Musk has been fraught with conflict. In 2021, JP Morgan sued Tesla for 1.7 billion kroner for breach of a share trading agreement.
Tesla had allegedly sold shares at a higher price than agreed, which triggered the compensation claim.
This is reported by CNBC .
This disagreement led to years of tension between the two companies, but in November 2022, the situation changed when JP Morgan withdrew the lawsuit.
During the World Economic Forum in Davos, Jamie Dimon and Elon Musk met. The courage resulted in a reconciliation. Dimon later stated that differences were talked out.
– Elon and I had a conversation and hugged out our differences. We had a great time together.
Dimon's words of praise didn't stop there. He referred to Elon Musk as "the Einstein of our time" and praised his innovative abilities.
The positive development in the relationship between JP Morgan and Elon Musk marks a significant change in the bank's perception of the Tesla CEO.
This is not the first time Elon Musk has been at the center of controversy in the stock market. In 2018, he wrote on what was then called Twitter that he would raise Tesla's share price to $420, which led to a fine of 130 million Danish kroner for both Tesla and Elon Musk.
Elon Musk has also taken on a public role in government spending in the United States. However, his focus on streamlining processes using software has drawn criticism.
Despite these challenges, Elon Musk has managed to establish himself as one of the most influential people in business. His ideas and approach have made him an icon for many. A new German study shows that 1 in 5 drivers would buy a new Tesla just because of Elon Musk.
