Jamie Dimon forms adviser supergroup for $1.5 trillion American resiliency pledge

Subscribe to enjoy similar stories. Jamie Dimon wants to protect America from potential foreign adversaries. He is assembling a group of national titans and close friends, from Jeff Bezos to Condoleezza Rice, to help him get it ready.

The head of JPMorgan Chase, the biggest U.S. bank, announced a $1.5 trillion initiative focused on national security in October, meant to bolster American self-sufficiency for critical technologies including rare earths and artificial intelligence. On Monday, Dimon said he had poached one of Warren Buffett’s handpicked investors, Todd Combs, to run a $10 billion fund that will invest JPMorgan’s own money in companies that will help buttress American supply chains and promote technological innovation.

And he brought together a who’s who of business leaders, politicians and generals to advise the bank on the “Security and Resiliency Initiative." That advisory group gets Dimon a roundtable of executives from the technology and defense industries, giving him more insight into where to invest and strengthening ties for his $4.6 trillion bank at the same time. Dimon has become increasingly focused on global politics since Russia’s invasion of Ukraine in 2022, regularly warning that Western democracy has to wake up. He has been raising concerns about production of everything from bombs to rare earths to penicillin, saying manufacturing is lagging behind and an investment plan is needed.

“National security is critical, not just for us, but for a lot of countries," Dimon told Fox host Maria Bartiromo on Sunday. “If you had any illusion the world would be peaceful in our lives…it was shattered." The chief executive has long looked to play a corporate-statesman role as the most famous U.S. banker.