Grapevine

By Cnbc
Sep 12, 2024

Ajit Jain, Buffett's insurance leader for nearly 40 years, dumps more than half of Berkshire stake

Ajit Jain, Warren's Buffett's insurance chief and top executive, sold more than half of his stake in Berkshire Hathaway , a new regulatory filing showed.

The move marked the biggest decline in Jain's holdings since he joined Berkshire in 1986. It's unclear what motivated Jain's sales, but he did take advantage of Berkshire's recent high price. The conglomerate traded above $700,000 to hit a $1 trillion market capitalization at the end of August.

"This appears to be a signal that Ajit views Berkshire as being fully valued," said David Kass, a finance professor at the University of Maryland's Robert H. Smith School of Business.

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Ajit Jain, Buffett's insurance leader for nearly 40 years, dumps more than half of Berkshire stake

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