Ajit Jain (born, July 23, 1951 in Orissa, India) is a businessman who currently heads several reinsurance businesses for Berkshire Hathaway and has been touted as a possible successor to Warren Buffett.
Jain's potential rivals to head up Berkshire Hathaway when Buffett departs are David L. Sokol, CEO of NetJets and Chairman of MidAmerican; Li Lu hedge fund manager of LL Investment Partners, LP, and Tony Nicely, CEO of GEICO
Jain working in Stamford, remains in close contact with Buffett.
In letters Buffett has written accompanying Berkshire's reports to shareholders, he has consistently praised Jain
In 1994: "His value to us is simply enormous."
In 2002: "I have known the details of almost every policy that Ajit has written since he came with us in 1986. ... His extraordinary discipline, of course, does not eliminate losses; it does, however, prevent foolish losses. And that's the key: Just as is the case in investing, insurers produce outstanding long-term results primarily by avoiding dumb decisions, rather than by making brilliant ones."
In 2003: "It's impossible to overstate his value to Berkshire."
In 2004: "Ajit's value to Berkshire is enormous."
In 2005: Buffett called him "an extraordinary manager."
In 2008: "Ajit came to Berkshire in 1986. Very quickly, I realized that we had acquired an extraordinary talent. So I did the logical thing: I wrote his parents in New Delhi and asked if they had another one like him at home. Of course, I knew the answer before writing. There isn’t anyone like Ajit."
In 2009: Buffett wrote, "If Charlie, I and Ajit are ever in a sinking boat – and you can only save one of us – swim to Ajit."; also Buffett showers praise on Ajit Jain; calls him 'superstar'.
Ajit Jain was raised in India's coastal state of Orissa. He graduated in 1972 from the Indian Institute of Technology Kharagpur with a bachelor's degree in engineering. He was a resident of the Azad Hall of Residence. He didn't take his studies very seriously, according to classmate Ronojoy Dutta. Instead, they spent hours talking about economics, sociology and the Vietnam War, often debating through the night. Vijay Trehan, another classmate, described Jain and Dutta as "class clowns in our mechanical engineering class." But considering their later careers, Trehan said, "The lesson has to be that 'not taking life too seriously' is definitely the way to go."
Jain worked for IBM in India from 1973 to 1976, and 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 month long courtship, he married Tinku Jain, a girl chosen by his parents. 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. In 1986 he left McKinsey to work on insurance operations for Buffett. At the time, he said he knew little about the insurance business.
Popular Jains This Week
By Prof. A.V. Narasimha Murthy Dr. Adinatha Neminatha Upadhye was born at Sadalaga village in Belgaum district in 1906. He had his early e...
-Mahavir Sanglikar Navalmal Firodia was a...
Vir Sanghvi (born 5 July 1956) is an Indian print and television journalist, columnists and talk show host. Currently, he is Editorial Dire...
Dr. Amol Annadate Marathi Writer Esp. Medical Subject Anand Hospital Mumbai Road , Vaijapur Dist Aurangabad 423701 Maharashtra...
Dharma Adhikari Veerendra Heggade born November 25, 1948 is a philanthropist and the hereditary administrator (Dharmadhikari) of the Dharma...
Sanjay Leela Bhansali ( संजय लीला भंसाली) is a highly acclaimed Indian film director. He is an alumnus of the Film and Television Institute ...
Venur Dhananjay Kumar Alva is a former Union minister of India and a former Member of Parliament from Mangalore.Currently, He is serving as ...
Shantinath Desai (1929 - 1998) was one of India's most prominent modern writers and was a part of the important Navya movement, the inf...
Year Name Stream State 1992 Dr.V. Shantaram Arts Maharashtra 1973 Dr. Daulat Singh Kothari Science & Engineering Delhi 1972 Dr. Jivr...
Dr. S. Cromwell Crawford is the Chairman and Professor of the Dept. of Religions at University of Hawaii, Honolulu. He has been there for th...