Abigail Johnson

Template:Short description Template:Use mdy dates Template:Infobox person Abigail Pierrepont Johnson<ref name=Wedding/> (born December 19, 1961) is an American billionaire businesswoman, heiress and chief executive of Fidelity Investments. Her family and their affliates own approximately 40% of Fidelity Investments, which was founded by her grandfather, Edward C. Johnson II.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref name="Grind">Template:Cite news</ref>

Since 2014, Johnson has been president and chief executive of Fidelity,<ref>Template:Cite news</ref> and chair of its former sister company Fidelity International (FIL).<ref name=forbes>Template:Cite web</ref><ref name="Forbes 2001">Template:Cite web</ref> In November 2016, Johnson was named chair and remained CEO and president, giving her full control of Fidelity.<ref>Template:Cite news</ref>

Johnson's net worth is approximately $47.3 billion according to Bloomberg L.P. and $35 billion according to Forbes.<ref>Template:Cite web</ref><ref>Template:Cite news</ref> She is one of the world's wealthiest women and the richest person residing in Massachusetts.<ref>Template:Cite web</ref> She is also ranked on the "Forbes list of the World's 100 Most Powerful Women".<ref>Template:Cite web</ref> She is a board member of Breakthrough Energy Ventures.<ref>Template:Cite web</ref>

Early life

Johnson was born in Boston, Massachusetts<ref name=harvard>Template:Cite news</ref> 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.<ref name=afraid/>

Johnson attended Buckingham Browne & Nichols School, a private school in Cambridge, Massachusetts, and then graduated from William Smith College with a bachelor's degree in art history in 1984.<ref name=harvard/> In 1985, she began working as a consultant at Booz Allen Hamilton, where she met her husband. She completed an MBA at Harvard Business School in 1988.<ref name=forbes/><ref name=Wedding>Template:Cite news</ref><ref>Template:Cite news</ref>

Career

Johnson at the Boston Convention and Exhibition Center in 2012

Upon graduating from Harvard Business School in 1988, Johnson joined Fidelity Investments, which her grandfather Edward Johnson II founded in 1946<ref name=forbes/> and of which her father Edward Johnson III was then the CEO. She began as an analyst and portfolio manager.<ref name=forbes/>

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.<ref>Template:Cite news</ref>

In 2005, she became Head of Retail, Workplace, and Institutional Business. She was named president in 2012. In 2014, she became CEO,<ref name="Grind"/><ref>Template:Cite news</ref> and in 2016 she also became chairman.<ref name="forbes" />

In 2018, Johnson introduced cryptocurrency investment at Fidelity, making it possible for institutional investors to trade Bitcoin and Ether.<ref name="forbes" /> In November 2018, she was named head of Fidelity Financial Services.<ref>Template:Cite news</ref>

At Fidelity, she reduced dependence on open-ended mutual funds, instead having the company focus on financial advice, brokerage services, and venture capital.<ref name=afraid>Template:Cite news</ref>

Personal life

Johnson is married to Christopher J. McKown. They have two daughters.<ref>Template:Cite encyclopedia</ref> She continued working during the pregnancies.<ref>Template:Cite news</ref>

In 2002, she bought a seaside house in Nantucket Island for $9.72 million.<ref>Template:Cite news</ref> As of 2006, she owned an estate in Milton, Massachusetts.<ref>Template:Cite news</ref> She also owns an office building in London.<ref>Template:Cite news</ref>

Political contributions

In 2015, Johnson donated $2,700, the maximum amount legally allowed for presidential primary campaigns, to Republican candidate Jeb Bush.<ref>Template:Cite news</ref> In 2016, she donated about $330,000 to Hillary Clinton's campaign and the Democratic National Committee.<ref>Template:Cite news</ref>

Awards and recognition

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.<ref>Template:Cite news</ref> She is the first and only woman to serve on the board of the Financial Services Forum.<ref>Template:Cite news</ref>

Johnson has been included on the Forbes list of the World's 100 Most Powerful Women since 2015. She was ranked 19th in 2015, 16th in 2016, 7th in 2017, 5th in 2018, 7th in 2019, 9th in 2020,<ref name=forbes/> 6th in 2021,<ref>Template:Cite web</ref><ref>Template:Cite web</ref> 5th in 2022,<ref>Template:Cite news</ref> 8th in 2023,<ref>Template:Cite news</ref> and 6th in 2024.

In 2023, Johnson was ranked 13th on the list of Most Powerful Women by Fortune.<ref>Template:Cite web</ref>

In 2024, American Banker recognized Johnson as the No. 2 Most Powerful Woman in Finance.<ref>Template:Cite news</ref>

See also

• Lists of billionaires