Billionaire CEOs have increasingly been making their presence and influence known in the 2024 election through endorsements and super-PACs, especially big names like Elon Musk and Bill Gates. One major CEO who has not endorsed a candidate ahead of Election Day is Jamie Dimon, JPMorgan Chase's (JPM) CEO. It begs the question: should CEOs be endorsing presidential candidates?

On the latest episode of Capitol Gains, Yahoo Finance's Rachelle Akuffo, Washington Correspondent Ben Werschkul, and senior columnist Rick Newman debate the concept behind CEO endorsements and if it’s wise to keep election opinions out of business.

Newman believes Dimon is justified in not endorsing Vice President Kamala Harris or former president Donald Trump. “I’m not sure if it makes any difference if any business leaders endorse anybody,” Newman says. “[A CEO’s] first obligation is not to any voting block, it’s to their shareholders to make sure they safeguard the value of the company.”

Werschkul says it’s more complicated than that because it not only comes down to dealing with potential blowback from endorsing a candidate, but also whether or not a candidate’s policies, like Harris’s corporate tax rate policies or Trump’s tariffs, will positively or negatively impact a CEO’s business.

To find out more, listen to the full episode of Capitol Gains here.

This post was written by Lauren Pokedoff.