Warren Buffett the owner of Berkshire Hathaway is known as a genius in the world of investing. Many believe there is no one like him but Buffett himself deeply admires someone elses talent—Ajit Jain the President of Berkshire Hathaway’s Reinsurance Division. In his annual letter to shareholders on February 22 2025 Buffett once again praised Jain saying “There is no one like Ajit.” In the past he has even called Jain a “factory of ideas.” Jain who prefers to stay away from the limelight has often been speculated as a possible successor to Buffett. Acknowledging some of his past mistakes Buffett also spoke about key decisions that shaped Berkshire Hathaway’s success. He stated that hiring Ajit Jain was one of the most important decisions he ever made. Buffett wrote “Over the years I have had many pleasant surprises—both in business opportunities and in the managers I have worked with. Finding GEICO as a business Ajit Jain as an outstanding leader and Charlie Munger as an incredible partner personal advisor and true friend have been my greatest fortunes. Mistakes fade over time but good decisions continue to thrive.” From a small town in Odisha to US Ajit Jain was born in Sundargarh a small town in Odisha. He completed his schooling at Stewart School in Cuttack and later earned a degree in Mechanical Engineering from IIT Kharagpur. In 1973 he started working as a salesman at IBM but when the company exited India three years later he lost his job. However Jain didn’t give up. In 1978 he moved to the United States and pursued an MBA at Harvard University. After completing his studies he worked at McKinsey & Company for a while before joining Berkshire Hathaway. Former Co-CEO of Deutsche Bank Anshu Jain is Ajit Jains cousin. Ajit Jains journey with Berkshire Hathaway Ajit Jain joined Warren Buffett’s company Berkshire Hathaway in 1986 specifically in the insurance sector. At that time he had no prior knowledge of insurance something he openly admitted to Buffett during his interview. However Buffett was highly impressed by him and offered him the job anyway. According to Robert P. Miles’ book The Warren Buffett CEO: Secrets from Berkshire Hathaway Managers Jain started working in the company’s insurance division with just a 14-member team. In the beginning he didn’t even hire a personal assistant. But within 14 years he transformed the business and grew it to a massive USD 78 billion (Rs. 6.5 lakh crore). Buffetts admiration for Ajit Jain Warren Buffett is a huge admirer of Ajit Jain’s work. He once wrote a letter to Jain’s parents in Odisha asking “Do you have another son like Ajit? If so please send him to work with us.” This shows how much Buffett values Jain’s business skills and work ethic. Among all Berkshire Hathaway employees Ajit Jain has contributed the most to the company’s profits. Buffett once mentioned that the insurance sector carries high risks but Jain’s exceptional skills and decision-making kept the company secure and thriving. Ajit Jains net worth Ajit Jain has also built a great fortune for himself. His estimated net worth is USD 2 billion (Rs. 1.66 lakh crore).