Photo: Courtesy of Sotheby’s
Jamie Dimon sold his Gold Coast home in Chicago for $6.5 million last year, only slightly more than the ~$4.7 million he reportedly bought it for in 2000. Perhaps the tremendous markdown Dimon took on the house (he originally listed it for $13.5 million in 2007) explains why, even though Dimon earned $21 million in cash and stock awards in 2010, JPMorgan covered his $421,458 tab in real estate commissions (via Chicago Real Estate Daily).
JPMorgan’s proxy says that the payment was “in accordance with the firm’s general policy on relocation expenses, applicable to all eligible employees who relocate at the request of the firm.”
Dimon kept his Chicago home for several years after leaving Bank One Corp. for JPMorgan until his children finished high school. He then moved to New York.
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