Ajit (born 1951 in Orissa, India) is an Indian born employee of Berkshire Hathaway who currently heads several reinsurance businesses. He was raised in India's coastal state of Orissa. He is a strict vegetarian because of his religion, Jainism. Ajit Jain is an older cousin of Anshu Jain, who was the Co-CEO of Deutsche Bank.
From 1973 to 1976, Jain worked for IBM as a salesman for their data-processing operations in India. He was named "Rookie of the Year" in his region in 1973. He lost his job in 1976 when IBM discontinued their operation in India because they declined to allow any Indian ownership of the company, as was then required by law.
In 1978, he moved to the United States, where he earned an MBA from Harvard Business School and joined McKinsey & Co.. He returned to India in the early 1980s and married. They then moved back to the United States, as his wife preferred to live there.
In 1986, he left McKinsey to work on insurance operations for Warren Buffett. Jain was invited by his former boss, Michael Goldberg, who had left McKinsey & Co to join Berkshire Hathaway in 1982. At the time, he said he knew little about the insurance business. Today, Jain is the President of Berkshire Hathaway Insurance group.
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. Jain lives in the New York City area, in the U.S. state of Connecticut.
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- "Berkshire Hathaway Shareholder Letter for 2014" (PDF).
his successors would not be 'of only moderate ability.' For instance, Ajit Jain and Greg Abel are proven performers
- "Ajit Jain may head Buffett firm". The Asian Age. Press Trust of India (PTI). 2015-03-02.
- Steve Jordon (May 2, 2015). "Meet Ajit Jain, the man in charge of Warren Buffett's profit machine". Omaha World-Herald. Retrieved April 24, 2016.
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- Matthews, Jeff, "Secrets in Plain Sight: Business and Investing Secrets of Warren Buffett," eBooks On Investing, 2012.