Abigail Johnson

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Abigail Johnson
Abigail Johnson at the Boston Convention and Exhibition Center on April 24, 2012.jpg
Born
Abigail Pierrepont Johnson

(1961-12-19) December 19, 1961 (age 58)
EducationWilliam Smith College (BA)
Harvard University (MBA)
OccupationChairman, CEO, and President of Fidelity Investments
Chairman of Fidelity International
Net worthUS$ 15 billion (September 2020)[1]
Spouse(s)
Christopher McKown
(m. 1988)
Children2
Parent(s)Ned Johnson

Abigail Pierrepont Johnson[2] (born December 19, 1961) is an American billionaire businesswoman.[3] Since 2014, Johnson has been president and chief executive officer of American investment firm Fidelity Investments (FMR),[4] and chairman of its international sister company Fidelity International (FIL). Fidelity was founded by her grandfather Edward C. Johnson II. Her father Edward C. "Ned" Johnson III remains chairman emeritus of FMR. As of March 2013, the Johnson family owned a 49% stake in the company, with Johnson herself holding an estimated 24.5%.[5][6]

In November 2016, Johnson was named chairman and will remain CEO and president, giving her full control of Fidelity with 45,000 employees worldwide.[7] Johnson's wealth is approximately $16 billion,[1] making her one of the world's wealthiest women. She was named by Forbes as The Richest Person In America's 50 Largest Cities in 2016 and ranked #7 as Power Women in 2019.[8] She is also the richest person in Massachusetts.[9]

Early life and education[edit]

Johnson attended Cambridge, MA private school Buckingham Browne and Nichols before graduating from Hobart and William Smith college with a bachelor of arts degree in art history in 1984.[10] After working as a consultant at Booz Allen Hamilton, where she met her husband, Johnson completed an MBA at Harvard Business School.[8][2][11]

Fidelity Investments[edit]

Upon graduating from Harvard Business School in 1988, Johnson joined Fidelity Investments - which her grandfather Edward Johnson II founded in 1946[12] - as an analyst and portfolio manager. In 2001, she was promoted to President of Fidelity Asset Management. In 2005, she became Head of Retail, Workplace, and Institutional Business. She was named president in 2012. In 2014, she became CEO, a role her father had held since 1977,[13] and in 2016 she became chairman as well.[14] In 2018, Johnson introduced cryptocurrency investment at Fidelity, making it possible for institutional investors to trade bitcoin and ethereum.[12]

Politics[edit]

In 2016, Johnson donated $2,700, the maximum amount legally allowed for presidential primary campaigns, to Republican presidential candidate Jeb Bush.[15]

Johnson also donated about $330,000 to Hillary Clinton’s campaign and the Democratic National Committee in 2016, according to Federal Election Commission records.[citation needed]

Awards and honors[edit]

Johnson is a member of the Committee on Capital Markets Regulation. She is a member of the board of directors of the Securities Industry and Financial Markets Association (SIFMA) and of MIT.[16] She is the first and only woman to serve on the board of the Financial Services Forum.[17]

Forbes has ranked Johnson among the most powerful women in the world for several years:

Forbes: The World's 100 Most Powerful Women
Year Rank
2019 7[12]
2018 5
2017 7[18]
2016 16
2015 19
2014 34[19]

See also[edit]

References[edit]

  1. ^ a b "Forbes profile: Abigail Johnson". Forbes. Retrieved September 28, 2020.
  2. ^ a b "Abby Johnson Has Wedding". The New York Times. June 26, 1988. Retrieved February 24, 2011.
  3. ^ "The World's Billionaires (2010): #48 Abigail Johnson". Forbes. March 3, 2010. Retrieved February 24, 2011.
  4. ^ O'Donnell, Carl (October 13, 2014). "Abigail Johnson Replaces Father Edward As CEO Of Fidelity". Forbes. Retrieved December 5, 2014.
  5. ^ "Abigail Johnson". Forbes.
  6. ^ Lau, Debra (May 21, 2001). "Fidelity Promotes Abigail Johnson To President". Forbes. Retrieved February 24, 2011.
  7. ^ Healy, Beth (November 21, 2016). "'Ned' Johnson stepping down as Fidelity chairman". The Boston Globe. Retrieved December 26, 2016.
  8. ^ a b "Abigail Johnson". Forbes. Retrieved April 10, 2020.
  9. ^ https://www.considerable.com/money/inheritance/richest-person-every-state/
  10. ^ "William Smith Leaders: Abigail P. Johnson '84". William Smith College. Retrieved May 4, 2015.
  11. ^ "Fidelity: Here Comes Abby". BusinessWeek. July 8, 2002. Retrieved July 24, 2016.
  12. ^ a b c "Abigail Johnson". Forbes. Retrieved December 17, 2019.
  13. ^ Grind, Kirsten. "Abigail Johnson Named CEO of Fidelity Investments". WSJ. Retrieved June 18, 2019.
  14. ^ "Abigail Johnson". Forbes. Retrieved June 18, 2019.
  15. ^ Ryan, Greg (November 13, 2015). "Fidelity's Abigail Johnson maxes out donations to this presidential candidate". Boston Business Journal.
  16. ^ Ryan, Greg (September 6, 2019). "Fidelity's Abby Johnson strikes deal to stay off stand in MIT 401(k) trial". BizJournals.com. Retrieved October 12, 2020.
  17. ^ Healy, Beth (December 5, 2014). "Abigail Johnson, after years of training, gets to put her stamp on Fidelity". The Boston Globe. Retrieved December 5, 2014.
  18. ^ "World's Most Powerful Women". Forbes. Retrieved March 29, 2018.
  19. ^ "The World's 100 Most Powerful Women". Forbes. Forbes. Retrieved July 20, 2015.