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# 338 Ned Johnson IV $5.60B

Random fact: Oldest sister Abigail Johnson is Fidelity CEO and president.

Overview

Johnson is the youngest child of Edward "Ned" Johnson III, the former chairman of Fidelity Investments. The Boston-based company had more than $2.42 trillion in assets under management. He also serves as president of the family company Pembroke Real Estate, which owns Seaport Place in South Boston.

As of :
Last change -$41.4M ( -0.7%)
YTD change +$2.15B ( +62.4%)
Industry Finance
Biggest asset FMR
Citizenship United States
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Ned Johnson IV's net worth of $5.60B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Johnson's fortune is derived from his 5.6 percent stake in FMR, the parent company of Fidelity Investments. The holding is based on a Dec. 31, 2000 disclosure to Utah regulators and annual SEC disclosures through 2018 that indicate that the Johnson family's ownership is the same and percentages among members haven't changed.

FMR had revenue of $20.4 billion and $6.3 billion in earnings before interest and taxes for the twelve months ended Dec. 31, 2018, and its assets under management stood at $2.42 trillion, according to its 2018 shareholder update provided to Bloomberg News on Feb. 21, 2019. Its valuation is based on the average enterprise value-to-Ebit and market capitalization-to-assets under management multiples of two publicly traded peer companies: BlackRock and T. Rowe Price.

The Johnson family also owns 40 percent of Fidelity International. Johnson is credited with 5.6 percent ownership of Fidelity International based on past disclosures. It had $412 billion in fund assets as of March 31, 2019, according to its website. It's valued using the average assets under management-to-market capitalization multiples of publicly traded peers Janus Henderson Group and Schroders. Fidelity International is a separate entity to FMR and included in the analysis as a standalone asset.

The Johnsons hold family investments in Impresa Management, according to a March 2019 Form ADV filing. It has more than $9 billion in assets. This analysis credits four family members as equal owners of 80 percent of insider assets based on information in the filing that identifies each with the same range of ownership.

An update on July 5, 2019 increased the value of Johnson's stake in Impresa by about $1 billion because of increased assets in the funds.

Michael Aalto, a spokesman for Fidelity, said the Johnsons declined to comment on their net worth or ownership structure.

Biography

Birthdate:
Family: Unmarried, No children

The only son of Lillie and Edward C. "Ned" Johnson III, Edward C. Johnson IV is president of Pembroke Real Estate, a real estate developer that invests in residential, office and mixed-use properties around the world. Among its major clients are the investment funds of his family and executives of family-controlled mutual fund companies FMR LLC and FIL Limited. It had more than 8.4 million square feet in its portfolio as of April 2017, including the Boston Seaport hotel and exhibition center, 10 Finsbury St. in London and 20 Martin Place in Sydney, Australia.

A resident of Boston, Johnson helped form Pembroke in 1997 after earning his undergraduate degree at Northeastern University. He also owns more than 5 percent of FMR, the parent company of Fidelity Investments and is estimated, based on regulatory filings, to have similarly sized stakes in FIL Limited, a mutual fund company for investors outside North America, and Northern Neck Investors, an investment advisor established primarily for the benefit of the Johnson family.

His sister, Abigail Johnson, is CEO, president and the largest shareholder of Fidelity Investments. His father, Edward C. Johnson III, and grandfather, ran Fidelity since 1946. Another sister, Elizabeth Livingston Johnson, is owner and president of a horse farm in Wellington, Florida.

Milestones
  • 1946 Edward C. Johnson II forms Fidelity Management and Research.
  • 1957 Father Edward C. Johnson III joins Fidelity as an analyst.
  • 1982 Fidelity Worldwide spun off as FIL in Bermuda.
  • 1995 Fidelity assets under management reach $409.5 billion.
  • 1997 Pembroke Real Estate formed in Boston, Massachusetts.
  • 2011 Buys 20 Martin Place in Sydney, Pembroke's first Australian property.
  • 2012 Fidelity Investments mutual fund assets reach $1.4 trillion.
  • 2014 Sister Abigail named CEO of Fidelity Investments.