"I think I could beat Trump... because I'm as tough as he is, I'm smarter than he is," he said.
Dimon, 62, who has previously ruled out a presidential run, said today that as a rich banker, "I can't beat the liberal side of the Democratic party," CNBC reported.
Speaking at a JP Morgan event, he was responding to a moderator asking why he did not take a run at the presidency.
Dimon said he would be able to handle Trump’s aggressive approach that saw him blow away the field in the Republic primary race before defeating Hillary Clinton in the 2016 presidential election.
“I would be fine, he can punch me all he wants and it wouldn't work,” Dimon said.
Both Trump and Dimon hail from New York, but Dimon has previously been a large donor to the Democratic Party, in contrast to Republican Trump.
“And by the way this wealthy New Yorker actually earned his money," Dimon added. "It wasn't a gift from Daddy."
The bank later put out a statement from Dimon, rowing back on his comments.
“I should not have said it. I’m not running for president. Proves I wouldn’t make a good politician. I get frustrated because I want all sides to come together to help solve big problems,” he said.