Elon Musk’s controversial gesture, which some interpreted as a Nazi-style salute, drew criticism from Trump’s political opponents and energized fans on the far right.

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.

The billionaire and his Silicon Valley associates landed in the capital and immediately moved to cut the size of the federal government, reprising the playbook he used after buying Twitter in 2022.

Welcome to CNBC’s live blog covering all the latest news, views and action on day 3 of the World Economic Forum in Davos, Switzerland.

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, this week, putting an end to years of head-butting between the billionaires’ companies as Dimon becomes the latest billionaire warming to Musk or Trump.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland, Wednesday. "The guy is our Einstein," the JPMorgan chief said. "I'd like to be helpful to him and his companies as much as we can.

During the World Economic Forum in Davos, Switzerland, the AI developer’s finance chief talked in detail about the company’s restructuring, Elon Musk’s legal actions and IPO best practices.

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.

I would prefer to stay out of politics,” Elon Musk told his followers in 2021, on the platform then known as Twitter. Plenty has changed since then. The world’s richest man appears to have a new goal: upending Europe.

Former Commerce Secretary Wilbur Ross said Elon Musk’s Department of Government Efficiency — the cost-slashing body known as DOGE — should train its sights on the World Bank after it was accused of losing track of $24 billion in climate funding.

CEO Jamie Dimon praised Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Wednesday and indicated that the two billionaires have patched holes in their relationship.