Jamie Dimon says he could beat Trump in an election, then retreats

"I should not have said it," the JPMorgan Chase CEO said in a statement. "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."

Earlier Wednesday, Dimon said he could take on the president and win. But he appeared to suggest he wouldn't survive the Democratic primaries.

"I think I could beat Trump," Dimon said at an event in New York Wednesday, according to a transcript posted by CNBC. "I can't beat the liberal side of the Democratic party."

He added: "I'm as tough as he is, I'm smarter than he is. I would be fine. He could punch me all he wants, it wouldn't work with me. I'd fight right back."

Dimon said that he used to believe a wealthy New Yorker couldn't be elected president, but ended up being "dead wrong."

"And by the way, this wealthy New Yorker actually earned his money," he said, referring to himself. "It wasn't a gift from Daddy."