Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The World's 14th Richest Family Runs MFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 14, 2019

The World's 14th Richest Family Runs MFs

News summary by MFWire's editors

Only one of the world's 25 richest families is in the asset management business.

Abby Johnson and her family, who control Fidelity Investments [profile], are the 14th richest family in the world, according to Bloomberg's new list. The publication estimates the family's wealth at $37.4 billion, and the family is new to the publication's list.

Abby's grandfather, Edward C. Johnson, founded Boston-based Fidelity Management and Research in 1946. Abby's father Ned took over in 1977, and Abby took over as CEO in 2014. (The article also reveals that, during her high school years, Abby's summer jobs including waitressing and selling T-shirts.) Abby's siblings, Edward Johnson IV and Elizabeth Johnson (both unmentioned in the article), also own sizable stakes in the company.

Fidelity is the largest 401(k) provider and the third-biggest mutual fund firm by AUM (with $1.679 billion in mutual fund and ETF alone, excluding money-market funds and funds of funds, as of July 31, per Morningstar estimates).

Bloomberg's ranking "excludes first-generation fortunes and those fortunes controlled by a single heir. Clans whose source of wealth is too diffuse or opaque to be valued are also excluded." 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use