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

Published On Sep 12, 2024, 8:47 AM

Ajit Jain, Vice Chairman of Insurance Operations at Berkshire Hathaway, sold more than half of his stake in the company, totaling 200 Class A shares, at an average price of approximately $695,418 per share, amounting to about $139 million. Following this sale, Jain retains only 61 shares personally, while additional shares are held in family trusts and his nonprofit. This sale, the largest reduction in Jain's holdings since he joined Berkshire in 1986, is seen as a potential signal that he views Berkshire's stock as fully valued, especially as the company’s share buyback activity has significantly lowered recently. Experts suggest that this reflects on the company being near its intrinsic value, marking a cautious outlook on further stock repurchases.