Berkshire Hathaway vice-chair Ajit Jain more than halved his stake in Warren Buffett’s sprawling investment conglomerate, following Buffett’s move to cut his own ownership in the near-$1tn business.
Jain disclosed he disposed of 200 class A common shares on Monday worth $139mn, drastically reducing his holdings in the business. The sale leaves him with direct and indirect ownership of 166 shares, according to a filing with the Securities and Exchange Commission, worth about $112mn.
The remaining shares are split between Jain and trusts for his spouse, children and non-profit, the Jain Foundation. In recent years, he has donated a number of his shares to his foundation, which is focused on finding a cure for dysferlinopathy, a rare muscular dystrophy disorder that his son suffers from. The foundation estimates the orphan disease afflicts as few as eight people out of every million.