Abigail Johnson Net Worth & Biography
|Popular Name:||Abigail Johnson|
|Real Name:||Abigail Pierrepont Johnson|
|Birth Date:||December 19, 1961|
|Birth Place:||United States|
|Spouse(s):||Christopher McKown (m. 1988)|
|Profession:||Businesswoman, Entrepreneur, Investor|
|Net Worth:||$30 Billion|
Abigail Johnson is the President and chief executive officer of Fidelity Investments, an American investment company, and its international sister firm, Fidelity International. The Boston-based company was established by Abigail’s grandfather, Edward C. Johnson II in the year 1946 to manage mutual funds. One of the few hardworking women who run a mutual fund mammoth in this present day, she took over the wheels of Fidelity Investments in very challenging times and grew it into a massive well-recognized empire. She holds an estimated 24.5 percent stake in the company that has almost $2.7 trillion in the form of managed assets. As someone who has put her confidence in cryptocurrencies, Abigail’s firm launched a digital platform that allows investors to trade in bitcoin and ether. Popularly known to her colleagues as ‘Abby’, this diligent CEO is a well-respected figure in her company’s Boston headquarters. Down to earth and media-shy, she is not always seen giving interviews to media channels and the likes. With all the aforementioned in mind, it’s now time to talk about the net worth and biography of this successful investor.
Early Life: Childhood, Education
She was born Abigail Pierrepont Johnson on December 19, 1961 in the United States of American in an American family. This American billionaire businesswoman attended Cambridge, MA School Buckingham Browne and Nichols, and later graduated with a Bachelor of Arts degree in art history from Hobart and William Smith college in 1984.
After graduating with her BA, Abby started working as a consultant at Booz Allen Hamilton before advancing to complete an MBA at Harvard Business School.
Professional Life: Entrepreneurial Career
Abigail Johnson has always been interested in working and earning her own fortune. In 1980, as soon as she finished high school, this goal-oriented lady, about age 19 at that time, started working at Fidelity Investments attending phone calls in the customer relationship department.
In 1988, after graduating from Harvard Business School, she re-joined Fidelity Investments as a lowly stock analyst in the department of Select Industrial Equipment Fund. She worked passionately at the establishment, and in a few years, she was appointed a portfolio manager and immediately declared her presence and capacity by consistently achieving positive results for the company’s long client list. By 1994, she had made it to the position of Associate Director. The following year, her father divested a huge chunk of his voting rights in Fidelity, giving it up to the parent company FMR. This, according to experts, was an indication of his faith in his daughter to take over from him as chairman in the future.
On May 2001, Abigail Johnson took over the position of President of the mutual fund department of Fidelity investments, making her the third most powerful person in the $1.4 trillion company after her own father, and chief executive officer Robert L. Reynolds. Even though Fidelity was managing $100 billion and $900 billion worth of overseas and domestic mutual funds respectively at the time, the company faced two challenges. One concern was their competitor, Vanguard Group who had gained weight in the financial market, while the other challenge was the bearish market that had left countless stock values battered. To remedy the situation, she readjusted the company strategy of small and incremental growths to include intermittent mergers and acquisitions. As President of Fidelity, Abby encouraged aggressive buying and selling in the market without looking at market indices. Her orders to her managers were simple – be more contentious with your acquisition strategies and policy implementations. She took over the real estate department of Fidelity as President in May 2005.
Today, she is the president and chief executive officer of Fidelity Investments. Her family inheritance merged with her professional success made her America’s fourth-richest businesswoman by 2017.
Achievements: Awards & Honors
Abigail was ranked 5th on the list of the world’s most powerful women according to Forbes magazine in 2018. In the magazine’s Billionaires list of 2019, she is ranked 71st.
She is the first woman to serve on the Financial Services Forum (FSF) board. The FSF is a non-partisan American economic strategy and financial services organization. Members of the FSF include chief executive officers of the biggest and most renowned institutions of financial services, carrying out business activities in America.
Personal Life: Husband, Kids, Hobbies
CEO Abigail is the wife of Christopher J. McKown. He is the chief executive of Iora Health, Inc. The two met when Abby was working as a consultant at Booz Allen Hamilton, and they tied the Knot in 1988. Together, they have two children.
When she is not concerned with her official duties, Abby likes to spend time with her family and loved ones. In her free time, she enjoys skiing as well.
Abigail Johnson Net Worth: Salary, Income Sources, Assets
Abigail Johnson’s net worth is reported to be $30 billion. She has acquired all her wealth from her career as a businesswoman and crypto investor.
At this moment, Abby is the president, chairman, and chief executive officer of Fidelity Investments, a company that her father established several decades ago. The company, Fidelity Investments, has been named as the second-largest mutual fund company in America with just under $2 trillion in assets.