The wealthiest woman in Boston … is also the wealthiest Bostonian, period. According to Forbes, Fidelity’s Abigail Johnson is worth $11.8 billion – but she and Fidelity Chairman Ned Johnson may not be the only billionaires in the Johnson family.
Galen Moore
Web Editor- Boston Business Journal
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Fidelity Investments is not only the biggest family business in Boston. The firm is the most valuable fund management company in the U.S. – and it’s not the only jewel in the Johnson family’s business empire.
The Johnson family, led by Fidelity Chairman Ned Johnson, owns 49 percent of Fidelity – in addition to transportation company BostonCoach, a lumberyard chain and interests in oil and gas. Fidelity is worth about $37 billion, and the Johnson family’s net worth is $22 billion, according to a Bloomberg report published Thursday. Edward “Ned” Johnson III is worth $6.9 billion, according to Bloomberg – but his daughter, Abigail Johnson, seen as his likely successor at Fidelity, is worth $10.1 billion. That makes her the sixth-richest woman in America, according to Bloomberg.
Related: Abby Johnson to head all of Fidelity’s operating units.
Forbes puts Abigail Johnson’s net worth at $11.8 billion, putting her at No. 27 on the Forbes 400 list (published for 2012 on Wednesday), and making her the richest Bostonian on the list – ahead of her father, Ned Johnson ($6.5 billion, No. 52) and International Data Group Chairman Patrick McGovern ($3.9 billion, No. 100). New England Patriots owner Robert Kraft ($2.3 billion, No. 206) and New Balance Chairman Jim Davis ($2.1 billion, No. 229) follow further down the list. Boston Red Sox owner John Henry is worth $1.5 billion, according to Forbes, putting him at No. 311.
Fidelity has not disclosed individual Johnson family members’ ownership stakes since 2005. But Bloomberg cited filings with the SEC and Utah’s Department of Insurance, showing Abigail Johnson in 2005 owned 24.5 percent of Fidelity. Ned Johnson owned 12 percent. As of Dec. 31 2000, two other Johnsons split most of the remaining 12.5 percent of Fidelity – Elizabeth Johnson and the younger Ned Johnson, according to Bloomberg.
Read more: Meet the BBJ’s 2012 ‘Power 50’ list of Boston-area influencers.
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