|Ajit Jain Quick Info|
|Height||5 ft 7 in|
|Date of Birth||July 23, 1951|
Ajit Jain is an American business executive who is best known as the vice chairman of insurance operations for Berkshire Hathaway Inc., an American multinational conglomerate holding company whose main business and source of capital is insurance. It invests the retained premiums in subsidiaries, equity positions, and other securities.
Sundargarh, Odisha, India
New York City, New York, United States
Ajit had attended the Stewart School, an Indian Christian school located in Cuttack, the former capital of, and the second largest city in, his home state of Odisha (then known as Orissa).
After his high school graduation, he joined the Indian Institute of Technology (IIT) Kharagpur, a public institution established by the Government of India in Kharagpur, West Bengal, India. It was the first of the country’s renowned IITs to be established (in 1951) and is recognized as an ‘Institute of National Importance’ as well as an ‘Institute of Eminence’ by the Government of India. Ajit graduated from there in 1972 with a B. Tech. (Bachelor of Technology) degree in mechanical engineering.
In the late 1970s, he enrolled in the Harvard Business School, the graduate business school of Harvard University, an Ivy League (a group of 8 private research universities in the Northeastern United States that symbolize academic excellence, selectivity in admissions, and social elitism) university in Cambridge, Massachusetts, United States. He graduated from there with an MBA (Master of Business Administration) degree.
- Siblings – Arun Jain (Brother)
- Others – Anshu Jain (Cousin) (Business Executive, President of Cantor Fitzgerald, L.P. (an American financial services firm), Former Global co-CEO and co-Chairman of Deutsche Bank AG (a German multinational investment bank and financial services company)) (d. August 2022), Geetika Jain (Cousin-in-Law) (Travel Writer, Children’s Book Author)
Ajit Jain’s net worth had been $2 billion according to CelebrityNetWorth.com.
5 ft 7 in or 170 cm
73 kg or 161 lbs
Girlfriend / Spouse
Ajit has dated –
- Tinku Jain (1981-Present) – Ajit tied the knot with a woman named Tinku in an arranged marriage in 1981. They have a son together named Akshay Jain.
Race / Ethnicity
- Mildly stocky frame
- Receding hairline
- Clean-shaven look
- Puffy face
Ajit Jain Facts
- Soon after graduating from the Indian Institute of Technology Kharagpur in 1972, Ajit joined IBM (The International Business Machines Corporation, an American multinational technology corporation) as a salesman for its data-processing operations in India.
- He was even named the company’s ‘Rookie of the Year’ in his region in 1973 but lost his job in 1976. This was because IBM had to discontinue its operation in India after it refused to allow any Indian ownership of the company – something that was mandated by Indian law at that time. In 1978, Ajit moved to the United States.
- He first earned an MBA degree there and then joined McKinsey & Company, a global management consulting firm that offers professional services to corporations, governments, and other organizations. He left the firm in 1986 to work on insurance operations for American business magnate, investor, and philanthropist Warren Buffett – the chairman and CEO of Berkshire Hathaway Inc.
- Ajit was invited to join this multinational conglomerate holding company by Michael Goldberg – his former boss who had left McKinsey & Company to join Berkshire Hathaway Inc. in 1982. This was despite the fact that Ajit had very little knowledge about insurance – the main business and source of capital of Berkshire Hathaway Inc.
- In 2005, he co-established the ‘Jain Foundation’, a non-profit organization located in Seattle, Washington, United States. It aims to create awareness about and raise funds for research on limb-girdle muscular dystrophies (a genetically heterogeneous group of rare muscular dystrophies that share a set of clinical characteristics – they are characterized by progressive muscle wasting which affects predominantly hip and shoulder muscles) caused by dysferlin protein deficiency that, as of May 2023, have no known cure or treatment. Ajit’s son, Akshay, who was diagnosed with this condition in 2001, has served as the chairman and CEO of the ‘Jain Foundation’.
- In 2014, nearly 3 decades after he joined Berkshire Hathaway Inc., the company suggested in an annual letter to its shareholders that Ajit could be an appropriate successor for Warren Buffett in the future. In January 2018, he was named the company’s vice chairman of insurance operations and appointed to its board of directors.
Featured Image by Business Standard / Instagram