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IIT Kharagpur Alumni, Family & Friends Donate Shares to IITKGPF (USA)

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IIT Kharagpur Foundation (USA) NEWSLETTER

Volume: 05.27.2023

Dear Reader,   

 

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

IITKGP alumnus and Vice-Chairman of Berkshire Hathaway Ajit Jain has donated 34 Berkshire B shares valued at around $10,000 today. 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.

 

Eminent IITKGP Alumnus Arjun Malhotra’s Son and Friends Donate Equity Shares from their Singapore-based Company  to IITKGPF valued at $350,0000

According to the donors, Latize is a big data and AI company that was started by two entrepreneurial spirits with an idea to change the world of data by turning data into usable information and insights. Shiven Malhotra, who is the son of IITKGP alumnus Arjun Malhotra (B.Tech/ECE/1970), and his friends Alex and Sameer have donated 14,205 shares valued at around $350K. The donors say this of their donation, "We are honored to join forces with the IITKGP Foundation in shaping the next generation of leaders and creating a brighter future for India and the world.”

IITKGP alumnus Sunil Gaitonde donates over $1 million worth of shares to the IITKGP Foundation

IITKGP alumnus Sunil Gaitonde donated 6,205 NVDA shares valued at $1,028,106 to the IITKGP Foundation (USA) in 2022 for supporting initiatives at IITKGP. Sunil believes that, "IIT played a huge role in not only making me an engineer but also providing a template for working with people from all walks of life through hostel living and activities. My debt to IIT is enormous. As an entrepreneur, it is ingrained in me that money plays a significant role in taking ideas and talent forwand. So, it was not a question of if, but rather when I could contribute in a significant way to the activities in IIT Kharagpur.”

Want to donate equity? Please reach out to meenakshi@iitkgpfoundation.org to discuss process. 

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