Berkshire appoints Ajit Jain as as its vice chairman

Ajit Jain, 66 along with Gregory Abel, 55 are the top contenders to replace Buffet, 87.

As per a regulatory filing, Ajit Jain, who has recently been appointed as vice chairman of Berkshire Hathaway Inc, has reported his ownership of the conglomerate’s stock, roughly valued at $109 million.

While Jain owns $21.7 million of Berkshire stock his wife, along with a family non-profit foundation and two family trusts owns another $87.5 million.

Last week, Berkshire appointed Jain, 66, as its vice chairman for insurance operations.

Berkshire also appointed Gregory Abel, 55, as the vice chairman for its non-insurance operations.

Analysts and investors opine that both, Jain and Abel are the top contenders to replace Buffett, 87, as Berkshire’s chief executive officer.

Buffett, who has run Berkshire since 1965 and roughly owns 1/6th of Berkshire, has not signaled any plans to leave and has stated since long that he loves his job.

Forbes magazine has valued his net worth at $91.5 billion.


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