Ajit Jain

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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]

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.[4] In 1985 he left McKinsey to work on insurance operations for Buffett. At the time, he said he knew little about the insurance business.[5] Today, Jain is the President of Berkshire Hathway Insurance group.[6] He is leading Berkshire's Indian insurance market venture.[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, WA.[10]

See Also[edit]

References[edit]

  1. ^ "Warren Buffett testing Indian market". Rediff. 2003-06-27. Archived from the original on 10 March 2007. Retrieved 2007-03-24. 
  2. ^ Ajit Jain leads pack to take over from Warren Buffett
  3. ^ Holm, Erik; Ng, Serena (May 5, 2012). "In Ajit Jain, Some See Next Buffett". The Wall Street Journal. pp. B1–B2. 
  4. ^ "Ajit Jain: Berkshire's next Oracle?". Rediff India Abroad. 2009-03-06. Retrieved 2010-05-15. 
  5. ^ Urban, Rob (2002-07-11). "Jain, Buffett Pupil, Boosts Berkshire Cash as Succession Looms". Bloomberg News. Retrieved 2006-07-23. 
  6. ^ "First Indian venture of US conglomerate Berkshire Hathaway". 18 December 2012. Retrieved 23 January 2013. 
  7. ^ "BerkshireInsurance in India". 
  8. ^ "Berkshire Hathway Shareholder Letter for 2014". 
  9. ^ http://www.asianage.com/business/ajit-jain-may-head-buffett-firm-896
  10. ^ http://www.jain-foundation.org/about-us/mission

Further reading[edit]

  • Miles, Robert P., "The Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers," John Wiley & Sons Inc., 2003.
  • Matthews, Jeff, "Secrets in Plain Sight: Business and Investing Secrets of Warren Buffett," eBooks On Investing, 2012.