Boston, MA

The richest woman in Boston, Massachusetts

Luay Rahil

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One Boston family owns 49% of one of the most successful mutual fund companies in the world, and the company employees own the other 51%.

The company is Fidelity. Because of this successful company, four Johnson family members are on the annual Forbes 400 list. Today, I will talk about the richest woman in the family who lives in Boston, Massachusetts.

Her name is Elizabeth Johnson. Her net worth exceeds $5.9 billion, making her the 168th richest person in the country.

Who is Elizabeth Johnson?

Elizabeth Johnson is the youngest daughter of Edward Johnson III, the former chairman of Fidelity Investments.

Most of her fortune is derived from her 5.6% stake in Fidelity Management & Research Company, the parent company of Fidelity Investments. In addition, Elizabeth Johnson is the founder and president of Louisburg Farm, an equestrian facility in Florida.

Elizabeth Johnson earned her degree at Franklin Pierce College. She sat on the Society of Arts and Crafts resource council, a Boston organization committed to the American craft movement.

She got married in 2003.

Elizabeth Johnson and Robert Clayton Ketterson Jr. married in 2003 but kept her name. Rob Ketterson received his computer engineering and marketing degree from the University of Arizona and his M.B.A. from MIT Sloan. He worked at Fidelity Ventures and is a founding partner of Volition Capital in Boston.

The story behind the brand.

In 1943, Edward C. Johnson II took over management of the Fidelity Fund and created a new company, Fidelity Management and Research. His son, Edward Johnson III. joined the company as an analyst in 1957. A few years later, the company acquired its first computer and started to rely on technology to serve its customers.

His son Johnson III grew the company fast.

In 1977, Edward Johnson III became the chairman and the CEO of Fidelity, and the company started to offer 403(B) plans and 401 (K). He also enabled customers to buy and sell stocks using online tools.

Abigail, Johnson III's daughter, became the new CEO.

In addition, his daughter Abigail (Abby) joined the company as an equity analyst in 1988, and he helped her become the company CEO in 2014. In 2018, Abigail made it possible for institutional investors to trade cryptocurrencies.

Today, the Boston-based business has about $3.8 trillion in assets under management.

The family gives a lot of money away.

The Johnsons family has given smaller donations to various organizations. They have also helped sponsor several foundations such as Brookfield Arts Foundation, Barth Syndrome Foundation, and Harvard Medical School. However, the largest donation was $3 million to Bermuda Underwater Exploration Institute.

If you had the family money, what causes would you support?

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