May 26, 2023

Warren Buffett’s Vice Chairman Ajit Jain Donates Berkshire B Shares

IITKGP Foundation 

IITKGP alumnus and Vice-Chairman of Berkshire Hathaway Ajit Jain has donated 34 Berkshire B shares valued at around $10,000 today. Odisha-born Ajit is an alumnus of IIT Kharagpur and graduated in 1972 with a BTech in Mechanical Engineering. In 1978, Jain moved to the United States, where he received his MBA from Harvard University and joined McKinsey & Co. Speaking to shareholders in Omaha during Berkshire’s annual meeting earlier this month, Warren Buffett, the 92-year-old investment icon, explained how he hired Ajit Jain in 1986. In praising Ajit, Buffet predicted that there won’t be anything in AI that can replace Ajit and his uncanny ability to find new lines of businesses in the insurance sector.