NET WORTH: Unknown
SOURCE OF WEALTH: Berkshire Hathaway
FUNDING AREAS: Health and Medical Research
OVERVIEW: Ajit Jain founded the Jain Foundation, a non-profit foundation seeking a cure for dysferlinopathy, which affects his son. The foundation has awarded over $25 million since it was established.
BACKGROUND: Born in India in 1951, Ajit Jain earned an engineering degree at IIT Kharagpur and received an MBA from Harvard Business School. He joined McKinsey & Co but later returned to India. His wife Tinku inspired a return to the U.S. He joined Berkshire Hathaway in the mid-1980s and is president of The Berkshire Hathaway Reinsurance Group.
THE JAIN FOUNDATION: The Jain Foundation is a nonprofit focused on finding a cure for dysferlinopathy—types of muscular dystrophies caused by dysferlin protein deficiency. Jain's son is affected by the disease. Dysferlinopathy is an orphan disease afflicting approximately 5 people per million and receives little or no funding from traditional sources.
The foundation's strategy includes, "funding and actively monitoring the progress of scientific research projects in key pathways towards a cure, providing financial and logistical support to promising drug candidates to accelerate them to clinical trials, funding clinical trials and studies, encouraging collaboration among scientists, and educating LGMD2B/Miyoshi patients about their disease and helping them with their diagnosis."
The Jain Foundation has awarded over $25 million since its establishment. All proposals are reviewed by the Jain Foundation scientific advisory board. Proposals are reviewed on a rolling basis.
LOOKING FORWARD: Expect Jain to remain fully focused on this personal cause.