Abigail Johnson
American billionaire and businesswoman From Wikipedia, the free encyclopedia
Abigail Pierrepont Johnson[1] (born December 19, 1961) is an American billionaire businesswoman heiress and the CEO of Fidelity Investments. Her family and their affliates own approximately 40% of Fidelity Investments, which was founded by her grandfather, Edward C. Johnson II.[2][3][4]
Abigail Johnson | |
|---|---|
.jpg) Johnson in 2022 | |
| Born | Abigail Pierrepont Johnson December 19, 1961 Boston, Massachusetts, US |
| Education | William Smith College (BA) Harvard University (MBA) |
| Occupation | Businesswoman |
| Title | Chairwoman, CEO, and president, Fidelity Investments Chairwoman, Fidelity International |
| Spouse |
Christopher McKown
(m. 1988) |
| Children | 2 |
| Father | Edward Johnson III |
| Relatives | Edward C. Johnson II (grandfather) |
Since 2014, Johnson has been president and chief executive officer (CEO) 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 woman residing in Massachusetts. She is also ranked on the "Forbes list of the World's 100 Most Powerful Women".[11] She is a board member of Breakthrough Energy Ventures.[12]
Early life
Abigail Johnson was born in Boston, Massachusetts[13] 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.[14]
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.[15] After working as a consultant at Booz Allen Hamilton, where she met her husband, Johnson completed an MBA at Harvard Business School.[6][1][16]
Fidelity Investments
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.[17] In 2005, she became Head of Retail, Workplace, and Institutional Business. She was named president in 2012. In 2014, she became CEO,[18][19] 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.[20]
At Fidelity, she reduced dependence on open-ended mutual funds, instead having the company focus on financial advice, brokerage services, and venture capital.[14]
Personal life
Johnson is married to Christopher J. McKown. They have two daughters.[21] She continued working during the pregnancies.[22]
In 2002, she bought a seaside house in Nantucket Island for $9.72 million.[23] As of 2006, she owned an estate in Milton, Massachusetts.[24] She also owns an office building in London.[25]
Political contributions
In 2015, Johnson donated $2,700, the maximum amount legally allowed for presidential primary campaigns, to Republican candidate Jeb Bush.[26] In 2016, she donated about $330,000 to Hillary Clinton's campaign and the Democratic National Committee.[27]
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.[28] She is the first and only woman to serve on the board of the Financial Services Forum.[29]
Forbes has ranked Johnson among the most powerful women in the world:
| Forbes: The World's 100 Most Powerful Women | |
|---|---|
| Year | Rank |
| 2024 | 6 |
| 2023 | 8[30] |
| 2022 | 5[31] |
| 2021 | 6[32] |
| 2020 | 9[6] |
| 2019 | 7 |
| 2018 | 5 |
| 2017 | 7 |
| 2016 | 16 |
| 2015 | 19 |
Johnson was ranked 13th on Fortune's list of Most Powerful Women in 2023.[33] In 2024, American Banker recognized Johnson as the No. 2 Most Powerful Woman in Finance.[34]
See also
References
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