Top Qs
Timeline
Chat
Perspective
Abigail Johnson
American billionaire and businesswoman From Wikipedia, the free encyclopedia
Remove ads
Abigail Pierrepont Johnson[1] (born December 19, 1961) is an American billionaire businesswoman heiress and chief executive of Fidelity Investments. Her family and their affliates own approximately 40 per cent of Fidelity Investments, which was founded by her grandfather, Edward C. Johnson II.[2][3][4]
.jpg)
Since 2014, Johnson has been president and chief executive of Fidelity,[5] and chair of its former sister company Fidelity International (FIL).[6][7] In November 2016, Johnson was named chair and remained CEO and president, giving her full control of Fidelity.[8]
As of June 2024, Johnson's wealth is approximately $35.6 billion according to Bloomberg L.P. and $31.1 billion according to Forbes.[9][10] She is one of the world's wealthiest women and the richest person residing in Massachusetts.[11] She is also ranked on the "Forbes list of the World's 100 Most Powerful Women".[12] She is a board member of Breakthrough Energy Ventures.[13]
Remove ads
Early life
Johnson was born in Boston, Massachusetts[14] on December 19, 1961. Johnson and her younger siblings did not feel pressured to join the family business. As a child Johnson was attracted to her father’s work.[15]
Johnson attended Cambridge, Massachusetts private school Buckingham Browne & Nichols School and then graduated from William Smith College with a bachelor's degree in art history in 1984.[16] After working as a consultant at Booz Allen Hamilton, where she met her husband, Johnson completed an MBA at Harvard Business School.[6][1][17]
Remove ads
Career
Upon graduating from Harvard Business School in 1988, Johnson joined Fidelity Investments, which her grandfather Edward Johnson II founded in 1946[6] and of which her father Edward Johnson III was then the CEO. She began as an analyst and portfolio manager.[6]
In 2001, she was promoted to president of Fidelity Asset Management. During her time in that position, Johnson unsuccessfully attempted to orchestrate a vote to remove her father as CEO over disagreements about his business decisions.[18]
In 2005, she became Head of Retail, Workplace, and Institutional Business. She was named president in 2012. In 2014, she became CEO,[19][20] and in 2016 she became chairman as well.[6]
In 2018, Johnson introduced cryptocurrency investment at Fidelity, making it possible for institutional investors to trade Bitcoin and Ether.[6] In November 2018, she was named head of Fidelity Financial Services.[21]
At Fidelity, she reduced dependence on open-ended mutual funds, instead having the company focus on financial advice, brokerage services, and venture capital.[15]
Remove ads
Personal life
Johnson is married to Christopher J. McKown. They have two daughters.[22] She continued working during the pregnancies.[23]
In 2002, she bought a seaside house in Nantucket Island for $9.72 million.[24] As of 2006, she owned an estate in Milton, Massachusetts.[25] She also owns an office building in London.[26]
Political contributions
In 2015, Johnson donated $2,700, the maximum amount legally allowed for presidential primary campaigns, to Republican candidate Jeb Bush.[27] In 2016, she donated about $330,000 to Hillary Clinton's campaign and the Democratic National Committee.[28]
Awards and honors
Johnson has served as a member of the Committee on Capital Markets Regulation and as a member of the board of directors of the Securities Industry and Financial Markets Association (SIFMA) and of MIT.[29] She is the first and only woman to serve on the board of the Financial Services Forum.[30]
Forbes has ranked Johnson among the most powerful women in the world:
Johnson was ranked 13th on Fortune's list of Most Powerful Women in 2023.[34] In 2024, American Banker recognized Johnson as the No. 2 Most Powerful Woman in Finance.[35]
Remove ads
See also
References
Wikiwand - on
Seamless Wikipedia browsing. On steroids.
Remove ads