MutualFundWire.com: Ten of the Richest U.S. Fundsters In 2024

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Tuesday, October 8, 2024

Ten of the Richest U.S. Fundsters In 2024

Ten of the richest Americans are fundsters, or fundster-adjacent, according to a new list from the folks at a business magazine.

Abigail Pierrepont "Abby" Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO

Last week, Chase Peterson-Withorn, senior editor at Forbes, unveiled the publication's 2024 edition of the Forbes 400. This is the 43rd edition of Forbes' flagship list, which includes the 400 wealthiest people in the U.S.

The 400 people on the list are collectively worth $5.4 trillion, up by $900 billion from the 2023 list, with the minimum net worth to make the list now at a record $3.3 trillion. For the first time, the list represents a minority of U.S. billionaires, as a majority of them fall under that threshold. The figures on the list are as of September 1.

Abby Johnson, the 62-year-old chair and CEO of Fidelity Investments, is the top mutual fund industry leader on the list this time, ranking 30th thanks to a net worth of $31.3 billion. Her siblings Edward Johnson IV (age 59, 70th) and Elizabeth Johnson (age 61, 91st) are next, with $12.6 billion and $10.6 billion each, respectively.

Other fundsters (or fundster-adjacent folks) on this year's list include:

Chuck Schwab (age 87), founder and co-chairman of the Charles Schwab Corporation, 101st with $9.9 billion;

Joe Mansueto (age 68), executive chairman of Morningstar, 184th with $6.7 billion;

Mark Walter (age 64), CEO of Guggenheim Partners, 216th with $6 billion;

Rajiv Jain (age 56), founder and CIO of GQG Partners, 237th with $5.6 billion;

Ron Baron (age 81), founder of Baron Capital, 250th with $5.2 billion;

Charles Johnson (age 91), former CEO of Franklin Resources, 278th with $4.8 billion; and