The world’s richest man, Elon Musk, said he will be joined by the boss of the country’s largest bank this week as he makes his case about the benefits of government spending cuts.

"I'm giving a talk later this week with JPMorgan Chase (JPM) and Jamie Dimon, and this [will obviously be to a] financial audience, and really just to say, look, if you're shorting bonds, I think you're on the wrong side of the bet," Musk said on his social media platform X on Sunday night.

"The bond markets don’t currently reflect the savings that we are confident we can achieve," Musk added.

A JPMorgan spokesman declined comment. It is unclear if Musk meant he would be making his case to JPMorgan and Dimon, or that Dimon would be lending him some support. JPMorgan is a major participant in the US Treasury market.

The promise of a Dimon discussion comes as Musk, the man in charge of the Trump administration’s newly formed Department of Government Efficiency (DOGE), is working quickly to restructure or even shut down various government agencies including the US Agency for International Development (USAID).

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As part of those efforts, DOGE has gained access to the Treasury Department’s payment system. Over the weekend, Musk said on X that DOGE is shutting down some Treasury payments in an effort to root out "corruption and waste."

"There will be less debt needed as we stop wasting taxpayer money on crazy things," Musk added in that same Sunday night talk.

Dimon has suggested recently that that his relationship with the world’s richest man is improving and hinted at a future collaboration.

"I wish him the best," Dimon told CNBC last month while attending the World Economic Forum in Davos, Switzerland.

"It's going to be complicated; the federal government's complicated. If we can be helpful to them, I'd love to be helpful to them,” he added in that interview.

Relations between Musk and Dimon haven’t always been so warm.

A long-running feud began a decade ago when JPMorgan turned down a request to underwrite leasing agreements for Musk’s electric vehicle maker, Tesla (TSLA). Musk fired back by threatening to pull Tesla as a client, according to a Wall Street Journal report. Musk eventually did pull Tesla’s business.

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In 2021, JPMorgan sued Tesla for $162.2 million, claiming that it breached a 2014 contract with stock warrants it sold to the bank. Tesla countersued.

But Musk and Dimon appeared together last March during a JPMorgan conference. JPMorgan dropped its lawsuit against Tesla in December. 

During his CNBC interview last month, Dimon praised Musk as "our Einstein" and said that the two of them had "hugged it out."

David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance.

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