Possible successor to Warren Buffet buys second apt in New York
Ajit Jain, who runs Berkshire's highly profitable specialty reinsurance business, last week bought a 34th-floor four-bedroom apartment at One Beacon Court for $14.65 million, according to Wall Street Journal.
According to the WSJ, Mr. Jain already owns a second apartment in the building. He bought that for 8.3 million U.S. dollars in 2009.
“Brokers now expect Mr. Jain to combine the two apartments, which would create a residence of nearly 6,000 square feet. Both units have a large outdoor terrace as a whole will be the largest private outdoor space at One Beacon Court,” the WSJ reports.
Mr. Jain was born in India and worked for IBM and McKinsey & Co. before joining Berkshire in 1986. Mr. Jain's reinsurance group has been a significant profit generator for the firm. Even if Mr. Jain doesn't get the top job, Mr. Buffett has been lavish in Mr. Jain's praise.
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