
Image source: Rediff.com
Also, here is a (better) picture of Ajit Jain on Flickr
Speculations are rife that, Orissa born Ajit Jain (wiki) may succeed Warren Buffett, the second richest person in the world and often touted as the greatest investment guru ever. In Warren Buffett’s own words, while showering praise on Ajit Jain – he wrote thus:
“Ajit came to Berkshire in 1986. Very quickly, I realised 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,” Buffett said.(Economictimes)
And also more fuel has been added to the rumors considering the facts that, Warren Buffett has consistently praised Ajit Jain meetings with shareholders and has declared that he talks to Jain daily, and that is how he “gains his knowledge”.
Ajit Jain – a graduate of IIT Kharagpur in Mechanical Engineering and later an MBA graduate from Harvard, moved back to India for a while, and them came back to US, upon his wife’s insistence. And truly, that turned to be a boon for Berkshire Hathaway Inc., the parent company of Ajit Jain’s re-insurance (who insure the insurers) group of 30 people who generate $3.96 billion, compared to another insurance group under Berkshire Hathaway – Geico, which generates $6.69 billion with over 20,000 employees whilst being the fourth largest auto-insurer in the US market.
Ajit Jain’s classmates have been quoted as saying that, he seldom took his studies seriously (while in college) and participated in night-long discussions about “sociology, economics and the Vietnam war”.
“Ajit and Rono were like class clowns in our mechanical engineering class,” says classmate Vijay Trehan, 56, now a senior technical consultant in Nashua, New Hampshire, for Hewlett-Packard Co. “I was first in my class. However, looking at what we have all accomplished, the lesson has to be that `not taking life too seriously’ is definitely the way to go.” (Bloomberg)
Though, there has never been an official list of nominations, much less, that of a successor, according to the media, Ajit Jain stands in competition with other talented individuals at Berkshire Hathaway, who are possible nominations for a successor -
Investors also mention Joseph Brandon, 47, the chief executive of General Re Corp., another Berkshire reinsurance unit; Richard Santulli, 61, who runs NetJets Inc., an operator of private jets; and Tony Nicely, 63, CEO of the company’s Geico Corp. car-insurance unit.(Bloomberg)
And then, just as an example of how much importance Ajit Jain holds for Buffett and his company.
Downstairs, the guest of honor’s whereabouts is Topic A among Dassault’s distinguished guests. It might puzzle them to learn that Buffet is on a transatlantic call to one of his employees. The matter he is discussing with Ajit Jain this evening is not urgent. But it is Buffet’s custom to speak with Jain every evening. If that means keeping 200 of France’s richest people waiting, then c’est la vie (That is life). Businessweek.


