Here are 20 things that you probably didn’t know about Ajit Jain. With an enormous balance sheet and a willingness to accept risk for the right price, Jain has orchestrated some of the most notable deals-such as assuming legacy liabilities of Equitas and Brandywine—in the history of the insurance industry. Who is Ajit Jain? Munger gives him the credit for “creating out of nothing” referring to the reinsurance business that has boosted Berkshire Hathaway to unimaginable heights of success. He was a salesman at their data-processing operation. Ajit Jain Net Worth. We have estimated Ajit Jain's net … Regarding Anshu Jain education, he has completed his graduation with honors in 1983 from the faculty of Economics at University of Delhi from Shri Ram College of Commerce. He has built business empires and given away billions of dollars to places he believed the money would be best used. Maybe a few of the two dozen folks he keeps on staff at Berkshire’s Nebraska headquarters. With a net worth of over 2 billion USD, he is counted among the richest people in Odisha. Ajit Jain You can be both emotional and rational. His job only lasted for three years before IBM shut down its India operation. [3], In 1972, Jain graduated from the IIT Kharagpur in India with a BTech degree in Mechanical Engineering. Douglas Albrecht and Laura Rufibach are co-Presidents of the Jain Foundation. He’s a very rich man who doesn’t need to worry about making more, and this is a part of what makes him such as success at what he does. Ajit Jane has earned the respect that he is shown. As Vice Chairman-Insurance Operations at BERKSHIRE HATHAWAY, Ajit Jain made $19,014,250 in total compensation. Jain is a hard-working executive at Berkshire Hathaway, and this is one of the things that he has in common with Mr. Warren Buffett. He just seems to have a keen insight that lets him know which risks to take a gamble on. He rose to the post of Vice President of Insurance Operations, and he’s just one step away from being CEO, however, he hasn’t made any overt statements or actions that would indicate that he’s inclined to aspire to the job. After moving to the United States, he enrolled at Harvard University where he graduated with his MBA degree. Ajit Jain’s income source is mostly from being a successful Businessman. According to his class mate’s knowledge,… Ajit Jain. He said "our future CEOs should come from … There are two men who are considered to be candidates for the job. Of course, he hasn’t said one way or the other nor has he made a statement of refusal should the offer be made, but there are speculations which go both ways. What makes Jain fit for CEO position? He also founded the Jain Foundation in 2005 in hopes of curing dysferlinopathy, which is a neuromuscular disorder also known as Miyoshi myopathy, which is located in Seattle. Ajit Jain, 57, the purported heir ... "C'mon, she'd look beautiful on the terrace," teased Maltz, causing one hesitant bidder's wife to blush. Seldom has such high praise been given to a business executive in the insurance industry. This is a very rare disorder that afflicts a small amount of the population, which is one of the reasons that it has not received a lot of attention. He’s skilled at taking risks that few others have considered insuring, and ending up on the winning side of it. Speculation that Jain will fill Buffett’s shoes has been gaining steam for a few years now. Sonali Jain is 60 years old and is residing in Mumbai Suburban, Maharashtra. Founder NRI MiTRA. His assistant. The firm has an estimated value of $530 billion. View Ajit Jain’s profile on LinkedIn, the world’s largest professional community. The decision on the amount of pay that these employees receive each year is determined by Warren Buffett himself. [6] 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. [8], In the annual letter to shareholders on 2014, it was suggested that both Jain and Greg Abel could be appropriate successors for Warren Buffett as CEO of Berkshire Hathaway. Jain is a mechanical engineer by trade, but worked with IBM, McKinsey & Co prior to joining Berkshire Hathaway in 1986. So, how much is Ajit Jain worth at the age of 69 years old? Buffett is one of the most highly respected and well-known names in the business world. +[deleted] Ajit Kumar Jain. He was named "Rookie of the Year" in his region in 1973. Ajit Jain (born July 23, 1951 in Orissa, India) is an Indian born employee of Berkshire Hathaway who currently heads several reinsurance businesses. He was recognized for his contributions at the company during his first year with the company and was named “Rookie of the Year. Ajit Jain Warren’s [Buffett] inheriting people like Ron Ferguson [General Re] and Rich Santulli [Executive Jet], who built up businesses of their own. Each man was paid a salary of $16 million and also received a $2 million bonus. Another possibility is Todd Combs, who is the CEO of Berkshire’s subsidiary Geico. Berkshire Hathaway Inc.’s newest vice chairmen, Ajit Jain and Greg Abel, each collected about $18 million in total compensation in 2018 after recent promotions. Jain also controls about $123 million of Berkshire stock, including shares owned by his wife and a private charity, while Abel oversees about $2 million, according to Friday’s filing. A supervisor encouraged him to study business in the United States, and he was admitted to Harvard Business School, graduating in 1978. The Jains then moved back to the United States, as Jain's wife preferred to live there. Born in Hissar, India to Balmukund and Triveni Jain, and raised both in Hissar and New Delhi, India along with his brothers Umrao, Dhanpat Rai, and Chiranji Lal, and sisters Sitara, Gunni, Janno, Nirmala, Darshan, and Nimmi.” Ajit is survived by his wife […] Ajit recruited Dr. Plavi Mittal to lead the foundation and during her tenure from 2005 - April 2017 she built the goals, principles, and philosophy by which the foundation still runs today. Buffett has openly stated that his feelings towards Jain are that of a son or a brother. It was confirmed that Buffett himself dropped a few hints at the company’s Annual General Meeting. I don’t think that one needs to come at the expense of the other. JAIN, Ajit Pershad Beloved husband, father, and Nana (grandfather) went to heaven on February 2, 2018 in Toronto, Canada. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Early Growth & Initial Basement: Ajit graduated in engineering from Indian Institute of Technology, kharagpur 1972. Ajit Jain salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Ajit Jain based on real numbers. In 1994: "His value to us is simply enormous." Geetika Jain is a writer and she loves to write educational books. Jain took a … We learned that Ajit Jain and Gregory Abel both made the same amount for 2018 in their service to Berkshire Hathaway. It wasn’t performing up to its full potential. He was born on July 23, 1951 in Odisha.. He’s one of the best assets at Berkshire Hathaway. Ajit Jain who heads Berkshire Hathaway Reinsurance Group, says Buffett's comments about him are generous. Noted Indo-Canadian Journalist-author Ajit Jain passed away on February 2 in Toronto. Ajit Jain It’s so easy to make dumb mistakes in this business. This is a trait that runs in the family as his cousin Anshu Jain is the former co-CEO of Deutsche Bank. He enrolled in a Mechanical Engineering program and earned his Bachelor’s Tech degree, graduating in 1972. Buffett wrote a letter to the shareholders of Berkshire Hathaway. Ajit Jain and Gregory E. Abel and were elected to serve as Directors to fill the two new positions on the Board. It’s common knowledge within the company that Jain is responsible for bringing in billions in returns for the shareholders with his long track record of success in the industry. For his personal life, it is known that Ajit has been married to Tinku Jain since 1981, and that the two were paired by their parents; they currently reside in Connecticut. Indians in the New York City metropolitan region, "Warren Buffett takes a step closer to naming a successor as Berkshire appoints Abel and Jain to board as vice chairs", "The India-born banker who transformed Deutsche Bank is on his way out", "Ajit Jain leads pack to take over from Warren Buffett", "Jain, Buffett Pupil, Boosts Berkshire Cash as Succession Looms", "Berkshire Hathaway Shareholder Letter for 2014", "Meet Ajit Jain, the man in charge of Warren Buffett's profit machine", "It's personal: Big business searches for cures", "Jain Foundation Steps Up Efforts to Find Cure for Muscular Dystrophy", https://en.wikipedia.org/w/index.php?title=Ajit_Jain&oldid=1019653082, Creative Commons Attribution-ShareAlike License. He won’t give reinsurance away for too low a price, but he still wants float.” And he is finding new ways to get it. Jain began his education at the prestigious IIT Kharagpur in India. He’s a very important man in the business world and we wanted to know more about him. He’s fast, decisive and has a tremendous capacity for the insurance business. It happened during the early 1980s. As Ajit Jain grew up in Orissa, south of Calcutta, India, he had no idea that he would be helping to insure the type of damage caused by the cyclones that occasionally strike his coastal hometown. Ajit Jain is a businessman from India, who has earned the respect and high-regards of Berkshire Hathaway’s Warren Buffett. May 06, 2019 / 05:09 PM IST . The country of India required all foreign companies to allow Indian ownership, but IBM refused, so they had to leave. Are you also wondering how much money is Ajit Jain making on Youtube, Twitter, Facebook and Instagram? Although some would consider him to be a risk-taker, he has yet to expose the company to inappropriate risks that exceed the operational resources. Jain’s recent purchase brings his sizable Berkshire holdings to about $120 million, including stock held by his wife, family trusts, and a private foundation that he controls. Harvard is a prestigious business school that is very selective and they only accept a small percentage of applicants for admission to their programs. Jain has had his share of ups and downs in his personal life. My name is ajit jain and I am here to fundraise for my wife, Sonali Jain. They saw something in Ajit that gave them the confidence to believe that he could learn fast and that he did. best qualified to answer detailed or complicated questions. Jain has a mind that is always thinking, planning and strategizing. References He was just 25 years old at the time that he moved to continue his education. In 2005, Jain established the Jain Foundation, a non-profit organization located in Seattle, Washington, the mission of which is to cure limb-girdle muscular dystrophies caused by dysferlin protein deficiency, a condition that Jain's son has. He’s a top-notch professional who is known for his expertise in underwriting and knowing just how much insurance is best for his clients. This is what has helped him to expand the business and make it the success that it is today. Download this stock image: Tinku Jain (R), wife of Ajit Jain, who runs Berkshire's giant reinsurance division poses with a $71,000 bracelet she bought with her sisters at the Berkshire-owned Borsheims jewelry store where CEO Warren Buffett was selling jewelry as part of the company annual meeting weekend in Omaha, Nebraska May 4, 2014. This makes him 68 years old, and a junior to the 80-year-old Buffett. This is a non-profit organization that has been established for the purpose of finding a cure for the condition or at least finding a treatment that is effective. There is talk within the company that Ajit may be the person chosen to succeed Warren Buffett when he steps down from the position of CEO. After a month long courtship, he married Tinku Jain, a girl chosen by his parents. Evolving Strategy Buffett can count the people he talks to daily. Buffett sees Jain as an “idea factory” Buffett’s description of Jain is “an idea factory that is always … 100 Ajit Jain Quotes 1 2 3 [On Warren Buffett] He is emotional, he is sensitive at a very personal level but by the same token that doesn’t come in the way of rationality. [1][2] He was raised in India's coastal state of Odisha. $2 Billion: Ajit Jain (born 1951 in Orissa, India) can be an Indian born worker of Berkshire Hathaway who presently heads many reinsurance businesses. Ajit Jain It’s the ability to make a decision in spite of the uncertainly, to act and move on… Ajit Jain It’s very different to distinguish between the hand one is dealt and the person playing the hand. He is very rational about expectations. He returned to India in the early 1980s and married. He donates to causes that are working on finding a cure. This is where he married his wife. 10 months ago. When it’s time for questions and answers, Buffett relies upon Jain’s expertise and he wants him around to explain the details to shareholders as well as other stakeholders. Abel, 56, and Jain, 67, who became vice chairmen in … Ajit Jain, who was recently appointed a vice chairman of Warren Buffett's Berkshire Hathaway Inc
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