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Dimon was announcing JPMorgan Chase's $500 million initiative to economically advance select cities around the world. The company said its goal is to attract an additional $1 billion from outside investors.

\"PHOTO:
Jason Alden/Bloomberg via Getty Images
PHOTO: James Dimon, CEO of JPMorgan Chase & Co., during the World Economic Forum in Davos, Switzerland, in this Jan. 18, 2017 file photo.
>

Following the event, the bank also released a statement from Dimon walking back 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,\" Dimon said in the statement.

But earlier during the event, Dimon took a swipe at Trump's inheritance and accomplishments as a businessman.

\"I mean, I've said this before Trump was elected. You're not going to get a wealthy New Yorker elected president. Boy, I was dead wrong. And by the way, this wealthy New Yorker [pointing to himself] actually earned his money. It wasn't a gift from daddy,\" Dimon said.

\"I grew up in a poorer part of Queens than he did, but I am a banker. I am part of the elite,\" Dimon continued. \"I don't think the American public looks at Trump as part of the elite. They look at him as the upstart who punched the elite in the nose every day. And so I think -- I think I could beat Trump. I can't beat the liberal side of the Democratic party.\"

This is not the first time Dimon has taken back things he's said about Trump.

In November, when asked if he thought Trump would serve one or two terms, the CEO said if he \"had to bet,\" Dimon thought Trump would only serve one term.

Dimon later said he wished he hadn't said that, adding, \"I’m not a political expert.\"

President Trump fired back in a tweet Thursday morning, writing, \"The problem with banker Jamie Dimon running for President is that he doesn’t have the aptitude or “smarts” & is a poor public speaker & nervous mess - otherwise he is wonderful. I’ve made a lot of bankers, and others, look much smarter than they are with my great economic policy!\"

The problem with banker Jamie Dimon running for President is that he doesn’t have the aptitude or “smarts” & is a poor public speaker & nervous mess - otherwise he is wonderful. I’ve made a lot of bankers, and others, look much smarter than they are with my great economic policy!

— Donald J. Trump (@realDonaldTrump) September 13, 2018

ABC News' Taylor Dunn contributed to this report.

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