Davos elitism was on full display this weekend as roughly 3,000 political leaders, business executives, economists and civil society figures gathered in Davos, Switzerland, for the World Economic Forum to debate and discuss topics ranging from international economic to environmental and geopolitical issues.
Amid those discussions, JPMorgan Chase CEO Jamie Dimon was pressed to weigh in on American business leaders’ supposed reluctance to criticize President Trump. He was asked whether there was a "climate of fear" in the United States, a question Dimon quickly dismissed as typical of the Davos elite.
Dimon argued that his positions were not a matter of reflexively supporting or opposing the president. He wanted a stronger NATO and a stronger Europe, goals he said some of Trump’s actions advanced and others did not. He also voiced disagreements over tariffs and immigration, pushing back on the suggestion that he had been unwilling to speak his mind.
JPMorgan CEO Jamie Dimon pushes back after being asked why America’s CEOs are afraid to criticize President Trump: “I’ve said what I think. What the hell else do you want me to say?” 🇺🇸 Interviewer: “I’m genuinely struck by the unwillingness of CEOs in America to say anything critical. There’s a climate of fear in your country. Would you agree with that?” Jamie Dimon: “The Davos intellectual elite. I’ve been coming to Davos all these years, listening to chatter and stuff like that. Has it done a good job making the world a better place? We get together and talk. What do you want me to do? I have strong views. Some of the things Trump has done are good, and some are not. I’m not a tariff guy. Do I use it in certain cases? Yes. I think they should change their approach to immigration. I’ve said it. What the hell else do you want me to say? I’m trying to have a conversation.”
— Garrett Wright (@garrxttt) October 25, 2026
"I am struck, I'm genuinely struck, by the unwillingness of CEOs in America to say anything critical [of President Trump]," Zanny Minton Beddoes, editor-in-chief of The Economist said. "There is a climate of fear in your country. Would you agree with that? And what should be done about it?"
"Oh, this is the Davos intellectual elite," the J.P. Morgan CEO replied. "You know, I've been coming to Davos all these years and listening to chatter and stuff like that. He didn't do a particularly good job at making the world a better place. I think it's great we get together and talk, but the part that you want me to do, this is..."
"I want you to answer my question," Beddoes interrupted. "It's not hard."
"You may want that one headline that gets..."
"No, I don't. Jamie, that's not true. I'm genuine. I've asked you this question off camera."
"I've made it clear. I want a stronger NATO, a stronger Europe," Dimon said. "Some of the things Trump has done are causing that. Some are not. I'm not a tariff guy, though I'd use it in the eight cases I had. I think they should change their approach to immigration. I've said it. What the hell else do you want me to say?"
"Is there a climate of fear?" Beddoes pressed.
"I think that is completely clear. Hey, ready? Here's your headline. I'm a globalist," Dimon said, invoking not necessarily the Davos elitism he had just criticized, but the economic interdependence that has benefited both the Western and non-Western world for the last 40 years.
While that was originally supposed to be a primary goal of the World Economic Forum’s meetings, Davos has since taken on a more nefarious character, embracing political agendas and the impulse to impose a particular worldview on everyone else. It has done little to dispel, and plenty to justify, its reputation as a gathering of elites who believe they should run the world, complete with the obligatory dash of Trump Derangement Syndrome.
But while Davos has shifted, not everyone in attendance has followed. Dimon stands out as a more realistic, practical CEO, focused on his company’s goals rather than forcing his ideals on others. That same pragmatism came through in his interview: Like most normal people, he could agree with the president on some issues and disagree on others without pledging unconditional loyalty or lapsing into reflexive revulsion. That sort of balance, and the willingness to express it plainly, is becoming increasingly rare amongst societal elites.
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