Warren Buffett is known for his investments in the stock market. He is considered to be one of the best businessmen alive in the world. The American businessman and investor is the CEO of Berkshire Hathaway. He has a net worth of $139 billion, which makes him the world’s eighth richest person. Even after being one of the best business minds in the world, Warren has always expressed his admiration for an Indian businessman, who is making some waves in the business market. We are talking about Ajit Jain. He is handling the insurance business for Berkshire Hathaway. According to Buffett, Ajit Jain has a business mind that is rare. His mind is a factory of ideas. Ajit joined the company in 1986. Through smart work, he has become the chairman of the company today. Ajit Jain also has a net worth of around 2 billion dollars.
Ajit, during his early days, had no knowledge of this sector. As mentioned in Robert P Miles’ book, The Warren Buffett CEO: Secrets from Berkshire Hathaway Managers, when Ajit Jain joined the company, it had only 4 people in the insurance department. Ajit Jain took 14 years of time, but he boosted the business to $780 crore.
Due to his contribution to the company, Warren Buffett considered Ajit Jain to be his good luck. He explained, “It was the lucky day of my life when I chose Ajit. Ajit was indeed a perfect choice. Even after all these years, they are better.”
Warren Buffett, in his letter to Ajit’s parents residing in Odisha, jokingly asked them if they had any siblings who could contribute to the company in a similar way. In the letter, he also wrote, “If I, Charlie Munger (Vice Chairman of the company), and Ajit Jain are travelling on a boat that is about to sink, then the first thing to do is save Ajit from sinking. They are very important to our company.”
Ajit Jain, born in Sundergarh, Odisha, completed his BTech degree from IIT Kharagpur. He began his career at IBM as a salesman. After three years, he went to America to pursue an MBA from Harvard University. He joined Berkshire Hathaway in 1986. Now the company stands at $889.52 billion, four times higher than Reliance Industries, which has a net worth of $228.03 billion.
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