Ajit Jain sold 50% of his shares

These are the shares Ajit Jain bought with his own money. While he got paid $20 m salary, he would have made more money by working for any other company.

I think he left many $100’s of millions on the table for working at Berkshire.

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PBV 1.6

Ajit and I are both selling

We have no idea why he sold. It could be anywhere from retiring, estate planning, charitable contribution…

When such a longterm shareholder sells, the last reason is valuation.

He sold approximately 55% of his stake. This sale was reported to be worth about $139 million, involving 200 of his Class A shares.