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thursday's news revealed thatajit jain, vice chairman of berkshire hathaway's insurance business, sold $139 million worth of berkshire class a shares, reducing his holdings by more than half.

according to regulatory filings, ajit jain sold 200 berkshire class a shares at approximately $695,418 per share. the sale means that he still holds a total of 166 berkshire class a shares, of which he personally owns 61 shares directly.

ajit, who will turn 73 on september 15, is one of buffett's right-hand men and key deputies. ajit joined berkshire in 1986 to oversee the group's insurance business, including auto insurer geico. in 2018, ajit was named vice chairman of the insurance company.

buffett has long praised ajit. for example, in 2017, buffett said that ajit may have made more money for berkshire than he did. buffett even said, "if there is really another ajit, you can trade me for him, don't hesitate. trade!"

in 2021, buffett publicly stated that the directors unanimously agreed that if he stepped down, greg abel, vice chairman of berkshire's non-insurance business, would take over as ceo. greg is ten years younger than ajit and was eventually chosen as buffett's successor. age was a key factor in berkshire's final decision.