Ajit Jain
Ajit Jain (born 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. Ajit Jain is an older cousin of Anshu Jain, who was the former Co-CEO of Deutsche Bank.
Education
In 1972,he graduated from the IIT Kharagpur;India with BTech degree in Mechanical Engineering.[2][3]
Career
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.[4] 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.[4]
In 1978, he moved to the United States, where he earned an MBA from Harvard University 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.[5]
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.[4] At the time, he said he knew little about the insurance business.[6] Today, Jain is the President of Berkshire Hathaway 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] Jain lives in the New York City area, in the U.S. state of New York.[10]
Philanthropy
In 2005, Ajit Jain established the Jain Foundation in the hopes of curing dysferlinopathy, also called LGMD2B or Miyoshi myopathy. It is a non-profit foundation located in Seattle, Washington.[11] The Jain Foundation also led to the creation of another non-profit foundation, In-Depth Diagnostics[12]
See also
References
- ^ S, Anusha; Krishnan, Janaki (2003-06-27). "Warren Buffett testing Indian market". Rediff. Archived from the original on 2007-03-10. Retrieved 2007-03-24.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "Ajit Jain leads pack to take over from Warren Buffett". Hindustan Times. 2012-05-08.
- ^ 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.
- ^ a b c Miles, Robert P. (2001). The Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers. New York: John Wiley & Sons. pp. 69–70. ISBN 0-471-44259-3.
- ^ "Ajit Jain: Berkshire's next Oracle?". Rediff India Abroad. 2009-03-06. Retrieved 2010-05-15.
- ^ Urban, Rob (2006-07-11). "Jain, Buffett Pupil, Boosts Berkshire Cash as Succession Looms". Bloomberg News. Retrieved 2006-07-23.
- ^ "First Indian venture of US conglomerate Berkshire Hathaway". Warc. 2012-12-18. Retrieved 2013-01-23.
- ^ "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. Archived from the original on 2015-04-02.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ 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.
- ^ "Mission". Jain Foundation.
- ^ "A Record of Advancing Clinical Research". In-Depth Diagnostics. Retrieved 10 May 2017.
Further reading
- Matthews, Jeff, "Secrets in Plain Sight: Business and Investing Secrets of Warren Buffett," eBooks On Investing, 2012.