Last week, the billionaire Berkshire chairman and chief executive officer promoted Jain and Greg Abel, the CEO of Berkshire's energy unit, to newly created vice chairman roles. Jain will be in charge of the company's insurance operations, which include Geico, Gen Re and a handful of other carriers. Abel, 55, oversees the other businesses, which range from railroad BNSF and Fruit of the Loom to Duracell and Dairy Queen. Buffett said the promotions were part of a "movement toward succession."