Ajit Jain's Significant Sale of Class A Shares in Berkshire Hathaway Raises Questions
Ajit Jain Divests Class A Shares
Berkshire Hathaway's vice chair of insurance operations, Ajit Jain, sold $139 million worth of his Class A shares in Warren Buffett's conglomerate. Jain, one of Buffett's top lieutenants, disposed of 200 Class A shares for about $695,418 each, according to a regulatory filing Wednesday. This disposal leaves Jain with control of 166 such shares, 61 of which he directly owns.
Buffett's Praise for Jain
Buffett has long praised Jain, stating in 2017 that he has probably made more money for Berkshire than Buffett himself. In 2018, Jain and Greg Abel were named vice chairmen of the firm, with Abel, who's a decade younger than Jain, being tapped as Buffett's successor.
Implications for Investors
Investors have questioned whether Jain would remain to aid Abel in managing the company once Buffett, now 94, steps down. This sale may indicate Jain's future plans and the evolving leadership landscape at Berkshire Hathaway. For a detailed report on this topic, visit the source.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.