Kolkata–Ajit Jain, a Kharagpur Indian Institute of Technology alumnus and President of Berkshire Hathaway Insurance group and one of the two potential successors to legendry investor Warren Buffett has donated stocks of the company to IITKGP USA Foundation for his alma mater.

Ajit Jain (left) with Warren Buffett (Photo courtesy: Wall Street Journal)

Jain graduated with B.Tech. in Mechanical Engineering from the IIT in 1972, and moved to the United State six years later and earned an MBA from the Harvard University.

He then held various positions at top management consultancy McKinsey & Co., before joining Berkshire Hathaway in 1986.

Jain is rumored to be one of two favored candidates as eventual successor of Berkshire Hathaway founder and CEO Buffett.

“Buffett has described Jain as having the intelligence to rate most risks properly, the realism to forget about those that can’t be evaluated, the courage to write huge policies and the discipline to reject risk when the premium is not appropriate,” James Skinner wrote in an article in The Street earlier this year.