You are analyzing the equity investments of two financial institutions, JPMorgan Chase & Co. and Goldman Sachs Group, Inc., for the fiscal year 2023.

Requirements:

1. JPMorgan reported equity investments valued at $50 billion as of December 31, 2023. Goldman Sachs' equity investments for the same date amounted to $45 billion.
2. Calculate the difference in equity investments between JPMorgan and Goldman Sachs.
3. Discuss the role of equity investments in generating investment income and diversification benefits for JPMorgan and Goldman Sachs.