Ajit Jain

Ajit Jain (born July 23, 1951 in Orissa, India) is an Indian born employee of Berkshire Hathaway who currently heads several reinsurance businesses.[1] He was raised in India's coastal state of Orissa. He is a strict vegetarian because of his religion Jainism. He graduated in 1972 from the IIT Kharagpur with a bachelor's degree in engineering.[2][3] Alit Jain is an older cousin of Anshu Jain, who currently heads the Deutsche Bank as Co-CEO[4]

Jain worked for IBM in India from 1973 to 1976, then moved to the United States, where he earned an MBA from Harvard Business School in 1978. He joined McKinsey & Co., but returned to India in the early 1980s. After a monthlong courtship, he married Tinku Jain, a girl his parents introduced him to. Then he went back to the United States to work for McKinsey. According to Robert P. Miles' book The Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers, Jain said he would not have returned to America, but his wife wanted to move there.[5] In 1985 he left McKinsey to work on insurance operations for Buffett. At the time, he said he knew little about the insurance business.[6] Today, Jain is the President of Berkshire Hathway Insurance group.[7]

In the annual letter to shareholders on 2014, it is suggested that both he and Greg Abel could be appropriate successors for Warren Buffett as CEO of Berkshire Hathaway.[8][9]

Ajit Jain established the Jain Foundation in 2005 in the hopes of curing dysferlinopathy, also called LGMD2B or Miyoshi myopathy. It is a non-profit foundation located in Seattle, Washington.[10]

See also

References

  1. ↑ S; Krishnan, Janaki (2003-06-27). "Warren Buffett testing Indian market". Rediff. Archived from the original on 2007-03-10. Retrieved 2007-03-24.
  2. ↑ "Ajit Jain leads pack to take over from Warren Buffett". Hindustan Times. 2012-05-08.
  3. ↑ Holm, Erik; Ng, Serena (2012-05-05). "In Ajit Jain, Some See Next Buffett". The Wall Street Journal. pp. B1–B2. Retrieved 2015-04-05.
  4. ↑ "Die Jains regieren die Welt". Handelsblatt. Holtzbrinck Group. 2012-06-01.
  5. ↑ "Ajit Jain: Berkshire's next Oracle?". Rediff India Abroad. 2009-03-06. Retrieved 2010-05-15.
  6. ↑ Urban, Rob (2006-07-11). "Jain, Buffett Pupil, Boosts Berkshire Cash as Succession Looms". Bloomberg News. Retrieved 2006-07-23.
  7. ↑ "First Indian venture of US conglomerate Berkshire Hathaway". Warc. 2012-12-18. Retrieved 2013-01-23.
  8. ↑ "Berkshire Hathway Shareholder Letter for 2014" (PDF). his successors would not be 'of only moderate ability.' For instance, Ajit Jain and Greg Abel are proven performers
  9. ↑ "Ajit Jain may head Buffett firm". The Asian Age. Press Trust of India (PTI). 2015-03-02.
  10. ↑ "Mission". Jain Foundation.

Further reading