JPMorgan’s Jamie Dimon says he’s in touch with Elon Musk.

JPMorgan Chase CEO Jamie Dimon said Wednesday that he and tech billionaire Elon Musk have patched up their previously contentious relationship.

“Elon and I hugged,” Dimon told CNBC during a TV interview at the World Economic Forum’s annual event in Davos, Switzerland. “He came to one of our meetings, (and) he and I had a good, long talk. We worked out some of our differences.”

Dimon praised Musk’s various companies, including Tesla, the space exploration company SpaceX, and Neuralink — a startup that wants to create brain-computer interface systems.

“The man is our Einstein,” said the head of JPMorgan. “I want to help him and his companies as much as we can.”

Dimon’s comments came after the US banking giant. He agreed to drop charges late last year. In the year He filed a lawsuit against Tesla in 2021, seeking $162.2 million plus fees in a dispute over stock warrant transactions. Previously, JPMorgan had sued Tesla for breaching the terms of the contract the companies signed on repricing the securities.

Tesla had to offer shares or cash if the stock price exceeded the agreed-upon “strike price” on a certain expiration date.

JP Morgan clashed in August 2018 when it adjusted the price of its securities after Mook tweeted that he was considering taking Tesla private for $420, and a few weeks later the Tesla boss backpedaled on the idea of ​​taking Tesla private. Car manufacturer.

Musk was later charged by the SEC with securities fraud. Tesla and Musk agreed to pay $20 million each to settle the lawsuit.

Musk is now playing a key role in President Donald Trump’s newly inaugurated administration as head of the Department of Government Efficiency. Dimon said he wanted to “help them”.

“The government needs to be more accountable, it needs to be more efficient. It needs to be results-based. I mean, I’m going to say department by department. So I wish them the best,” Dimon said. “It’s going to be complicated. The federal government is complicated.”