Trump Bump makes Wall St kings £280m

TWO of the world’s richest bankers saw their wealth swell by £280m last year as the value of their shareholdings soared following the election of Donald Trump as US President.

JP Morgan Chase boss Jamie Dimon and his Goldman Sachs counterpart Lloyd Blankfein cemented their reputations as the kings of Wall Street as they left their rivals floundering.

Dimon, 61, a married father of three, saw the value of his JP Morgan shares jump by £125m. He was also paid nearly £22m. Blankfein, 62, who is also married with three children, benefited from a £116m increase in the value of his Goldman share while earning a further £17m in pay and bonuses.

Bank shares surged following Trump’s election last November as investors bet the new President would ease the burden of regulation on Wall Street.

But while Dimon and Blankfein made a fortune, average pay for the chief executives of 20 of the world’s biggest banks fell from £10.9m to £9.6m last year.

The average pay for chief executives of European banks was £6.5m – less than half the amount of their US rivals.