Introduction
Abigail Johnson, the chairwoman and CEO of Fidelity Investments, recently grabbed the spotlight with her huge net worth, making her the richest woman in the finance industry. Forbes estimated her net worth at $20.3 billion in 2021, which is more than twice of that of her nearest female rival in the business. Her wealth is attributed to her company, Fidelity Investments, and her own investment portfolio. In this blog post, we will unlock the secrets to her massive fortune and explore how she became the richest woman in finance.
Early Life and Education
Abigail Johnson was born on December 19, 1961, in Boston, Massachusetts, to Edward C. Johnson III, the chairman of Fidelity Investments. After completing her schooling, she joined Hobart and William Smith Colleges, where she received a Bachelor of Arts degree in art history in 1984. Later, she obtained an MBA degree from Harvard Business School in 1988.
Family Business
Abigail Johnson’s father built Fidelity Investments, which is now one of the largest mutual fund companies globally. She joined the company in 1988 and worked in various departments before becoming the CEO in 2014. Her grandfather, Edward Johnson II, founded the company in 1946, starting with a mutual fund that invested in US stocks.
Impact on Fidelity Investments
Abigail Johnson has been a significant driving force behind Fidelity Investments’ success. She made considerable contributions to the company, such as developing a new technology platform, leading the firm’s retail and institutional businesses, and steering its venture capital and private equity units. Her contemporary leadership style and strategic vision have helped the company grow over the years.
Personal Investments
Apart from running Fidelity Investments, Abigail Johnson has a considerable personal investment portfolio. Forbes reports that she owns over 24.5 million shares of Fidelity worth over $19 billion. Additionally, she holds a 24.5% stake in the Johnson Family Trust, which is worth $6.1 billion. She also has investments in various other ventures, contributing to her overall net worth.
Philanthropic Activities
Abigail Johnson is a prominent philanthropist, and she generously donates to various charitable causes. She chairs the Board of Directors at the Fidelity Foundation and serves on various philanthropic boards, including the Boston Foundation and Americares. In 2016, she and her husband donated $25 million to the Boston Foundation to support the city’s youth and workforce development programs.
Public Profile
Abigail Johnson is known for her private nature, and not much is known about her personal life. She avoids public appearances and rarely speaks to the media outside official statements and interviews. She also keeps her social media presence limited, with only a few professional profiles available.
Challenges She Faced
Abigail Johnson had to face several challenges during her career, including overcoming gender bias and navigating the complex finance industry. She is considered a trailblazer in the sector and has opened up opportunities for women in finance. She advocates for gender diversity and promotes gender equality in the workplace.
Conclusion
Abigail Johnson’s impressive net worth is a testament to her leadership and contributions to Fidelity Investments. Her success story is inspiring and empowering, particularly for women in leadership roles. She has proved that women can excel in the finance industry and change the game on their terms.
FAQs
Q1: Who is Abigail Johnson?
Abigail Johnson is the Chairwoman and CEO of Fidelity Investments, the largest mutual fund company in the United States.
Q2: What is Abigail Johnson’s net worth?
Forbes currently estimates Abigail Johnson’s net worth to be $20.3 billion.
Q3: How did Abigail Johnson become the richest woman in finance?
Abigail Johnson’s wealth comes from her position as CEO of Fidelity Investments and her personal investment portfolio. She also inherited a significant stake in the company from her father and grandfather.
Q4: What are Abigail Johnson’s philanthropic activities?
Abigail Johnson is a known philanthropist and chairs the Board of Directors at the Fidelity Foundation. She also donates to various charitable causes and serves on the boards of several philanthropic organizations.
Q5: What challenges did Abigail Johnson face during her career?
Abigail Johnson had to overcome gender bias and navigate the complexities of the finance industry to become the CEO of Fidelity Investments. She is considered a trailblazer in the sector and advocates for gender diversity in the workplace.
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