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.

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, 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, on Wednesday, squashing a long-running beef between the billionaires’ companies as Dimon becomes the latest billionaire warming to Musk or Trump.

JPMorgan Chase CEO Jamie Dimon said Wednesday that he and Tesla CEO Elon Musk have “hugged it out” and resolved their differences, after Dimon’s bank sued the tech billionaire’s electric vehicle

The European car market stagnated last year, with EVs taking the grunt of the fall. However, it’s worth looking at the details.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland. "He came to one of our conferences, [and] he and I had a nice, long chat. We settled some of our differences."

Chinese electric vehicle (EV) makers BYD , Geely and SAIC have challenged the EU's import tariffs at the Court of Justice of the European Union (CJEU), filings on the court's website showed on Thursday.

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.

Trump's second presidency dominated proceedings at the World Economic Forum amid ominous warnings over the looming threat of trade tariffs and his decision to pull the United States out of the Paris climate agreement.

Tech billionaires, corporations and lobbyists are all seeking close ties to Trump. But crony capitalism and favoritism harm a country and its economic performance.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

The first trillionaires are on their way. Five people are expected to amass at least $1 trillion in wealth within the next decade, if current trends continue, according to Oxfam’s annual inequality report,