NET WORTH: Unknown
SOURCE OF WEALTH: Berkshire Hathaway
FUNDING AREAS: Health and Medical Research, Global
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 $27 million in research grants and clinical trials since it was established.
BACKGROUND: Born in India in 1951, Ajit Jain earned an engineering degree at IIT Kharagpur and an MBA from Harvard Business School. He joined McKinsey & Co but later returned to India before his wife Tinku inspired a return to the United States. He joined Berkshire Hathaway in the mid-1980s and is president of The Berkshire Hathaway Reinsurance Group.
HEALTH: The Jain Foundation is a nonprofit focused on finding a cure for his son’s disease, dysferlinopathy—a type of muscular dystrophies caused by dysferlin protein deficiency. Dysferlinopathy is an orphan disease that afflicts approximately 5 people per million and receives little to 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."
GLOBAL: The Jains are major supporters of the American India Foundation, which is “committed to catalyzing social and economic change in India and building a lasting bridge between the United States and India through high-impact interventions in education, livelihoods, public health, and leadership development.”
LOOKING FORWARD: Expect Jain to remain fully focused on this personal cause.