Edward Johnson III, a visionary businessman and philanthropist. He gained immense recognition as the chairman and CEO of Fidelity Investments, a company founded by his father. With his innovative ideas and strategic leadership, Johnson transformed Fidelity into a financial services powerhouse and revolutionized the investment industry.
In this blog, Covemarkets will discuss Edward Johnson III net worth, early life, career and much more.
|Edward Crosby Johnson III
|Ned Johnson III
|June 29, 1930 – March 23, 2022
|91 years (at the time of death)
|Elsie Livingston Johnson and Edward C. Johnson II
|Boston, Massachusetts, United States
|Bachelor’s degree from Harvard College in 1954
|Elizabeth B. Lillie Johnson
|Abigail Johnson, Elizabeth L. Johnson, Edward Johnson IV
|Estimated at $9.3 billion
|Source of Wealth:
|Fidelity Investments and Fidelity Magellan fund
What is Edward Johnson III Net Worth and Salary in 2023?
As of 2023, Edward Johnson III’s one of the richest with net worth stands at an impressive $9.3 billion, according to Vim Buzz. His vast wealth is a testament to his successful career in the financial industry. Additionally, it is worth noting that Abigail Johnson, his daughter and the current CEO of Fidelity Investments, earns a staggering salary of $400,000,000.00 per year.
Why is Edward Johnson III Famous?
Edward Johnson III gained fame as an American billionaire businessman who, along with his daughter Abigail Johnson, owned and ran Fidelity Investments and Fidelity International.
Under his leadership, Fidelity Investments became one of the largest investment management companies in the United States, with assets under administration totaling $11.1 trillion, as of the company’s February filing.
Edward Johnson III Overview
Johnson’s early life was marked by the challenges of the Great Depression. Despite the economic hardships, he excelled academically and graduated from Harvard College in 1954.
His passion for finance and investments led him to join his father’s firm, Fidelity Investments, in 1957 as a research analyst. This marked the beginning of his remarkable career in the financial industry.
Career and Awards
Edward Crosby Ned Johnson III was a prominent figure in the world of finance, known for his leadership of the mutual fund giant, Fidelity. Johnson led an illustrious career that spanned several decades until his death on March 23, 2022. His legacy continues to influence the financial industry today.
Johnson’s career began in earnest in 1957 when he served in the US Army before becoming a research analyst for Fidelity Investments. By 1960, he had risen to the position of portfolio manager of the Fidelity Trend Fund. His leadership skills were evident as he and his father established the Fidelity Foundation in 1965.
Johnson’s tenure as CEO of Fidelity, which began in 1977 and lasted until 2014, saw the company grow into one of the largest U.S. money managers with $4.2 trillion in managed assets.
Throughout his career, Johnson received numerous accolades and awards. He was a fellow of the American Academy of Arts and Sciences, a trustee of the Beth Israel Hospital and the Boston Museum of Fine Arts, and a member of the Boston Society of Security Analysts.
In recognition of his contributions to the financial industry, he was awarded honorary doctorates by Boston University, Bentley College, and the Hobart and William Smith Colleges. The London Business School also honored him as an honorary fellow.
Despite his passing in 2022, Johnson’s influence continues to be felt in 2023. The Johnson family, including his daughter Abigail who took over as CEO of Fidelity in 2014, owns 49% of the company. The family’s wealth jumped by $6.2 billion in 2021, bringing their total net worth to $48 billion.
In addition to his financial acumen, Johnson was also known for his love of art. He was an avid art collector, and his Brookfield Arts Foundation has some 600 paintings, antiques, and historical artifacts on loan to various museums. His passion for art and culture is another aspect of his legacy that continues to impact the world in 2023.
Johnson’s personal life was enriched by his family. He was married to Elizabeth B. Lillie Johnson, and together they had three children: Abigail, Elizabeth, and Edward. His daughter Abigail succeeded him as CEO of Fidelity Investments in 2014, continuing the family legacy of leadership and innovation.
As of now, there is no information available about Edward Johnson III’s social media accounts.
FAQs about Edward Johnson III
What was Edward Johnson III’s role at Fidelity Investments?
Edward Johnson III served as the chairman and CEO of Fidelity Investments, overseeing its growth and transformation into a financial services powerhouse.
How did Edward Johnson III contribute to the investment industry?
Johnson revolutionized the investment industry by pioneering the sale of mutual funds directly to individual investors and introducing innovative practices such as permitting check writing on money market funds.
What is Abigail Johnson’s role at Fidelity Investments?
Abigail Johnson, Edward Johnson III’s daughter, took over as CEO of Fidelity Investments in 2014, continuing the family legacy and leading the company to further success.
Edward Johnson III’s impact on the financial industry cannot be overstated. As a visionary businessman, he transformed Fidelity Investments into a global powerhouse and revolutionized the way Americans save and plan for retirement. His net worth of $9.3 billion in 2023 is a testament to his remarkable achievements.
Beyond his professional success, Johnson’s passion for art and philanthropy further exemplify his well-rounded character. Edward Johnson III will always be remembered as a trailblazer and an inspiration to future generations in the world of finance. Thank you for reading.
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