This paper reports on Magnetospheric Multiscale observations of whistler mode chorus and higher‐frequency electrostatic waves near and within a reconnection diffusion region on 23 November 2016. The diffusion region is bounded by crescent‐shaped electron distributions and associated dissipation just upstream of the X‐line and by magnetic field‐aligned currents and electric fields leading to dissipation near the electron stagnation point. Measurements were made southward of the X‐line as determined by southward directed ion and electron jets. We show that electrostatic wave generation is due to magnetosheath electron beams formed by the electron jets as they interact with a cold background plasma and more energetic population of magnetospheric electrons. On the magnetosphere side of the X‐line the electron beams are accompanied by a strong perpendicular electron temperature anisotropy, which is shown to be the source of an observed rising‐tone whistler mode chorus event. We show that the apex of the chorus event and the onset of electrostatic waves coincide with the opening of magnetic field lines at the electron stagnation point. Key Points Whistler mode chorus and higher‐frequency electrostatic waves were observed in the vicinity of a reconnection diffusion region at the dayside magnetopause The location of the Earthward boundary of chorus and electrostatic waves coincides with the opening of magnetic field lines via reconnection The causes of whistler mode chorus and electrostatic waves are shown to be electron temperature anisotropy and beam‐plasma interactions, respectively