The mutual fund industry's East Coast Johnsons have recently gained some ground, while the West Coast Johnsons have lost some, at least according to a magazine's latest list.
| Abigail "Abby" Pierrepont Johnson|
FMR (dba Fidelity Investments)
Chair, President, CEO
In the just-released
2020 edition of the Forbes 400
, the four ranked members of the East Coast Johnsons each saw their net worth rise since the 2019 list
, and most saw their ranks rise, too. Abby Johnson
, CEO of Boston-based Fidelity
(and granddaughter of its founder), remains
the richest U.S. fundster and still ranks 34th on the list, but her net worth rose to $15 billion. (She also ranks as the sixth richest woman in the country.) Abby's father, Edward Johnson, III (i.e. Ned Johnson
to 72nd $7.4 billion. Abby's brother Edward Johnson, IV rose
to 228th and $3.5 billion. And Abby's sister Elizabeth Johnson climbed
to 238th and $3.4 billion.
Meanwhile, Charles Johnson
, former chairman and CEO of San Mateo, California-based Franklin Templeton
(and son of the firmer's founder), slipped
to 170th and $4.3 billion. And Charles' half brother, Rupert Johnson
to 249th and $3.3 billion.
And in New York City, Ron Baron
, CEO and founder of Baron Capital
to 295th and $2.9 billion this year.
(A different fundster billionaire was one of 25 people who slipped
off the list this year, down to 804th and $1.7 billion. The minimum threshold for making the cut was $2.1 billion.)
Neil Anderson, Managing Editor
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