Jamie Dimon is now officially a billionaire

Not bad for someone who was out of work a few years back!

Jamie Dimon, who helped assemble Citigroup and then improved on the experiment with JPMorgan, is responsible for two of the biggest banks the world has ever seen. His life’s work also made him rich.

JPMorgan shares near a record high, Dimon’s net worth is about $1.1bn, according to the Bloomberg Billionaires Index. Dimon’s fortune derives from a $485m stake in JPMorgan, where he’s been chief executive officer since the end of 2005, and an investment portfolio seeded by proceeds from Citigroup stock sales.

Dimon’s status is unusual because, with the exception of former mentor Sanford 'Sandy' Weill, few bank managers accumulate that much wealth. Most finance-industry billionaires start businesses or investment firms, such as hedge-fund tycoon George Soros, who is worth $28.5bn, or Blackstone co-founder Steve Schwarzman, worth $13.4bn.

To access the complete Bloomberg News article hit the link below:

Jamie Dimon Becomes Billionaire, Ushering in Era of the Megabank

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