Ajit Jain donates Berkshire Hathaway Stocks to the US Foundation

KOLKATA: In a unique gesture,

Ajit Jain

of

Berkshire Hathaway

donated

stocks

of Berkshire to the IIT-Kharagpur US Foundation for his alma mater IIT Kharagpur (IITKGP). The news was confirmed by Foundation office on July 10.
Ajit Jain, distinguished alumnus of IIT Kharagpur, graduated with B.Tech. in Mechanical Engineering in the year 1972. In 1978, he moved to the United States, where he earned an MBA from

Harvard University

. After graduation, he held various positions at top tier management consultancy, McKinsey & Co., up until 1986 when he joined Berkshire Hathaway.

Ajit Jain is the President of Berkshire Hathaway Insurance group and leads several other insurance companies housed inside the broader Berkshire Group. Warren Buffett has described Jain as having the intelligence to rate most risks properly, the realism to forget about those that can't be evaluated, the courage to write huge policies and the discipline to reject risk when the premium is not appropriate.
He established the Jain Foundation, the mission of which is to cure limb-girdle muscular dystrophies caused by dysferlin protein deficiency.