Bloomberg Billionaires Index

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# 339 Elizabeth Johnson $5.60B

Random fact: Graduated from Franklin Pierce University in New Hampshire.

Overview

Johnson is the youngest daughter of Edward "Ned" Johnson III, the former chairman of Fidelity Investments, a mutual fund company. The Boston-based business has $2.42 trillion in assets under management. She's also the founder of Florida horse stable Louisburg Farm. Her sister Abigail is Fidelity's CEO.

As of :
Last change -$41.4M ( -0.7%)
YTD change +$2.15B ( +62.4%)
Industry Finance
Biggest asset FMR
Citizenship United States
Age 56
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Elizabeth Johnson'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 her 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 to 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 family also own 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 Fidelity's ownership structure.

Biography

Birthdate:
Family: Married, No children
Education: Franklin Pierce University

Elizabeth Livingston Johnson is founder and president of Louisburg Farm, an equestrian facility in Wellington, Florida, and minority owner of Fidelity Investments and related entities.

The younger daughter of Lillie and Edward C. "Ned" Johnson III, Elizabeth earned her undergraduate degree at Franklin Pierce College and sits on the resource council of the Society of Arts and Crafts, a Boston organization dedicated to the American craft movement.

Her sister, Abigail Johnson, is CEO, president and the largest shareholder of Fidelity Investments. Her father, Edward C. Johnson III, and grandfather, ran Fidelity since 1946. Her brother, Edward C. Johnson IV, runs the family's Pembroke Real Estate arm.

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 Limited in Bermuda.
  • 1987 Fidelity assets under management reach $75 billion.
  • 1995 Fidelity assets under management reach $409.5 billion.
  • 1997 Marries Robert C. Ketterson, Jr. in Milton, Massachusetts.
  • 2004 Registers Louisburg Farm as a company in Florida.
  • 2012 Fidelity Investments mutual fund assets reach $1.7 trillion.
  • 2014 Sister Abigail named CEO of Fidelity Investments.