Johnson is the youngest child of Edward "Ned" Johnson III, the former chairman of Fidelity Investments. The next wealthiest Massachusetts resident? While her net worth took a $5 billion dive in 2020, it rebounded significantly in 2021, doubling from 2020. . The Lees are the family behind Samsung, which is now the world's largest producer of smartphones and consists of 62 companies, per Bloomberg. Today, it manages $1.4 trillion in mutual fund assets, about 12 percent of the U.S. market, according to data compiled by Investment Company Institute, a Washington, D.C.-based industry association. She is the first woman to take on her position, which she assumed in 2018 after leaving HSBC Asia Pacific, where she worked as deputy chairman. According to a 2010 FMR bond offering statement, the company had $9.2 billion in debt at the end of 2009. He is the chairman of the board, president, and chief executive. Source of wealth:Self-made; Berkshire Hathaway, Berkshire Hathaway CEOWarren Buffett started his investing career at a young age. The family also controls BostonCoach Corp., a transportation company operating in 40 countries, according to the Bloomberg report. Cox Enterprises has touched a number of industries, including cable and broadband (Cox Communications), newspapers and radio stations (Cox Media Group), and automotive, per Bloomberg. Edward Johnson IVs wealth amounts to $3.5 billion. The SC Johnson family Herbert Fisk. No. ), 1845 Walnut Street Suite 900 Philadelphia, PA 19103, Transformational Women in Family Business 2023, 2021 Family Business Executive Compensation Survey. Laukien is the chairman and chief executive of of Bruker Corp., a publicly traded scientific instrument manufacturer in Billerica. Source of wealth:Self-made; Icahn Enterprises. . Worth $4.8 billion, he is the 589th richest person in the world. Shes been the companys chairman since 2016. Conine, 48, founded the company in 2002 with Niraj Shaw, a friend from a summer program the two attended at Cornell University in high school. Fidelity Investments is valued at about $37 billion . The 25 billionaires in Massachusetts are worth more than $104 billion combined. Together they created Ragon Institute, focused on creating an HIV vaccine, in 2009. Learn more about reprints and licensing for this article. . The richest people in America are still predominantly men. Ragon founded InterSystems, a software company that enables hospitals and banks to analyze big data, in 1978. Fireman also chairs Boston private equity firm Fireman Capital Partners, which his son founded. For Massachusetts, here are the wealthiest residents, and where they placed on the, Johnson, 58, resides in Milton, according to. Your article was successfully shared with the contacts you provided. At an estimated net worth of $15 billion (and the. Shes $5.6 billion richer than last year as a result of the 13% rise in Walmart stock. Follow Boston.com on Instagram (Opens in a New Tab), Follow Boston.com on Twitter (Opens in a New Tab), Like Boston.com on Facebook (Opens in a New Tab), These 10 people from Mass. Buffett worked as a securities analyst in the early 1950s before starting his own investment firm. The firm went public in 1996 and now brings in more $1 billion in annual sales. I was hit by a cricket ball and I had a surgery when I was 19 years old and that changed my life. The sibling of Fidelity Investments chief executive Abigail Johnson is the founder of a stable of show jumping horses based in Florida. She is listed on FreeOnes since 2010 and is currently ranked 330th place.Our records show that Abigaile Johnson. Roofing supply billionaire Diane Hendricks is again the wealthiest of the self-made group, with an estimated $11 billion fortune, an increase of $3 billion due to revenue increase and a healthy year over year performance across the roofing industry. The Johnson familys most valuable asset is Fidelity Investments. Today, Pierre-Alexis Dumas is the artistic director and Axel Dumas is the company chairman, according to the Herms Group's website. [9] Early life and education [ edit] Jim Davis Kraft shares the rank of third and forth richest person in Massachusetts with Jim Davis, the chairman of New Balance. For Massachusetts, here are the wealthiest residents, and where they placed on the Forbes list: After a decline in her net worth from $17.3 billion in 2018 to $14 billion in 2019, Johnsons wealth increased to $15 billion in 2020, placing the Fidelity Investments CEO as the 34th richest person in the country, and the richest in Massachusetts. Newcomers include Melinda French Gates, now worth at least $6.3 billion after receiving billions worth of public stock as part of her divorce from Microsoft cofounder Bill Gates; and Miriam Adelson, who inherited her late husband Sheldon Adelsons entire stake in casino empire Las Vegas Sands. 45 on the list. The grandfather of Fidelity investments CEO Abigail Johnson founded the privately held investment giant in 1946, per Bloomberg. Fidelitys Abigail Johnson now worlds eighth-richest woman, Firm reported record operating income of $7.2 billion in 2020, Rivians Troubles Dont End at a 93% Wipeout, IBM to Pause Hiring for Jobs That AI Could Do, First Republics Jumbo Mortgages Brought On Banks Failure, Buffett Will Beat theMarket asRecession Looms, Investors Say, The Inside Story of Buffetts Big Japan Bet, Over Glasses of Coke at Four Seasons. Fidelitys assets under management grew from $39.5 billion in 1985 to $409.5 billion a decade later. The Johnsons also own 39.89% of FIL Ltd., known as Fidelity Worldwide, a fund company for investors outside North America; fund managers and senior employees own the rest. Since being listed in the 1970s by Kwok Tak-seng, Sun Hung Kai Properties has evolved into one of the biggest property developers in Hong Kong. Markets never sleep, and neither does Bloomberg News. The family reportedly keeps 80% of Cargill Inc.'s net income inside the company for reinvestment annually. It may come as no surprise that the 72nd richest person in the country, and second richest in the state, is Abigail Johnsons father, Edward Ned Johnson III, 90, whose net worth is measured at $7.4 billion. Source of wealth:Inherited; Banking, Tobacco. (Source: Bloomberg, Sept. 20, 2012. The rise of Fidelity mirrors the surge in American do-it- yourself investing. But, among this years Forbes 400 list of the wealthiest people in the U.S., women continue to hold their ground. The descendants of founder Fritz Hoffmann-La Roche have a 9% stake in the company. 87: Dominique Senequier, Founder & President, Ardian. All of those businesses Fidelity, the bus line and the hotel are controlled by the Johnson family, led by patriarch Edward C. Ned Johnson III. (Source: Bloomberg) Included in the mix are self-made tycoons like Warren Buffett, as well as people who have inherited their wealth, like Fidelity scion Abigail Johnson. Receive the latest news and breaking updates, straight from our newsroom to your inbox. No. 55: Tokiko Shimizu, Executive Director, Bank of Japan, No. Ned Johnson IV, who lives on Bostons Union Wharf, is president of family-owned Pembroke Real Estate, a company he helped create in 1997. As of June 30, the company managed $217 billion, according to its website. His daughter, Fidelity president Abigail P. Johnson, 50, has a net worth of $10.1 billion, making her the sixth-richest woman in America. This comes despite her giving away nearly $8.6 billion since 2020 to some 780 nonprofits as part of her ongoing efforts to donate her Amazon richeswhich she described as made from systems in need of change, in a Medium blog post in June. He also owns a stake in the Premier League soccer team Liverpool. Gapontsev founded IPG Photonics, which produces high-power fiber-optic lasers for cutting materials and telecommunications. Bloomberg Net worth: $15.7 billion Age: 75 Country of citizenship: US Source of wealth: Self-made; founded Interactive Brokers Thomas Peterffy, who is often considered the father of modern. Founded in 1985,the bank is currently worth $34.6 billionand employs 60,000 people. Access your favorite topics in a personalized feed while you're on the go. Abigail Johnson Net worth: $25.4 billion Age: 59 Source: Money management While her net worth took a $5 billion dive in 2020, it rebounded significantly in 2021, doubling from 2020. Forbes wealth-tracking platform provides ongoing updates of the net worth and ranking of each person that researchers confirm is a billionaire. He helped launch the company in 2002 with Niraj Shah. FIL, known as Fidelity Worldwide, was spun off as a Bermuda-based company in 1982. Carl Icahnhas made a lifelong habit and lucrative career out of agitating undervalued and poorly managed companies to change their ways. ThinkAdvisor identified the 15 financiers and investors at the top of the pecking order. 15. Bancel is the chief executive of Moderna, the Cambridge drug firm that developed a vaccine authorized by the FDA to fight COVID-19. It now has 5,500 employees, and nets over $900 million each year. His net worth is $2.3 billion. Fewer women this year have self-made (as opposed to inherited) fortunes, with just 10 claiming the distinctiondown from 11 in 2020. Under her leadership, Fidelitys assets under management have increased by more than 60% to $4.2 trillion, as the Boston investing giant inches closer to the scale of larger players in the investment banking industry. Forbes gave Hostetter the highest philanthropy score out of the wealthiest Massachusetts residents. No one from Massachusetts cracked the top 10, which is predictably made up of the likes of Jeff Bezos, Elon Musk, Bill Gates, Mark Zuckerberg, and Warren Buffett, but that doesnt mean they dont have considerable wealth. Top editors give you the stories you want delivered right to your inbox each weekday. And for the first time ever, a new listee debuts with a tie: Jennifer Piepszak, the co-CEO of Consumer and Community Bankingat JPMorgan Chase, shares no. No. Abigail Johnson After a decline in her net worth from $17.3 billion in 2018 to $14 billion in 2019, Johnson's wealth increased to $15 billion in 2020, placing the Fidelity Investments CEO. Share & Print. Fidelity Investments is valued at about $37 billion, the Bloomberg article said. Jacqueline and John Mars inherited a stake in the candy empireMars Inc., which invented M&Ms, Milky Way, and Mars Bars, when their father passed away in 1999. While its unusual to keep a tie in place for the Power list, the Wall Street analysts Forbes interviewed said the two women share equal power within the bank and have equal chances of succeeding CEO Jamie Dimon. Record producer Kenny Beats takes us on a journey from Berklee College of Music to blowing up the electronic dance music scene to reemerging as a sought-after hit maker and content creator, all while building one of the most interactive, music-obsessed communities on the internet. Vinciarelli, a first-time member of the billionaire list, founded Vicor Corp., an electronics manufacturer in Andover. The 80-year-old tycoon accumulated his family fortune from varied businesses from tobacco to banking to telecom. 16.). To make sure that Bridgewater runs without him,he's recently stepped back from management responsibilitieswhile still remaining active in the investment strategy. Fidelity's parent company is FMR LLC. Details about the calculations are provided in the net worth analysis on each. He also owns a small stake in Fenway Sports Group, which owns the Boston Red Sox and Liverpool FC. It didn't take into account first-generation fortunes, fortunes controlled by a single heir, or fortunes derived primarily from the state. Kellner is a major shareholder in Dutch holding company PPF Group N.V., which controls the PPF Group. The Boston-based business has about $4.5 trillion in. Davis bought New Balance when it was a small Boston shoe company in 1972 and turned it into a company worth $4 billion in sales. Diane Hendricks Net Worth: $11 billion Stphane Bancel, chief executive of the company, is now worth $4.3 billion, making him the ninth richest person in Massachusetts. They also gifted a $200 million endowment for the Ragon Institute of Massachusetts General Hospital, MIT and Harvard, according to. No. These are the most powerful women in finance, along with their ranks on the Worlds 100 Most Powerful Women list: No. Johnson was the CEO of Fidelity, the second-largest US mutual fund manager, for almost 40 years. Forbes' Real-Time Billionaires tracks the daily ups and downs of the world's richest people, among them the wealthiest Americans in finance and investments. In June 2020, Onexim Sports and Entertainment indefinitely closed The Nassau Coliseum in Long Island, which the company operates on a lease from the county, while shopping around for new investors, Bloomberg reported. Robinhood Markets has snared most of the attention for attracting an army of day traders during the pandemic. With her new position overseeing the leading financial services provider in the academic and research industry, she is one of just two Black women currently leading a Fortune 500 company, and is the fourth to ever do so. Henry is the owner of the Boston Red Sox and The Boston Globe, which he bought in 2002 and 2013, respectively. The company was founded by his father, Edward Johnson II, in 1946. The effort was championed by Johnson, who is enthusiastic about blockchain technologys role in the future of finance. Dalio sat down with Business Insider CEO Henry Blodget in 2018to discuss his new book, which breaks down the anatomy of credit crises throughout history. 69: Laura Cha, Chair, Hong Kong Stock Exchange, No. The Walton family fortune is dispersed among three generations of family members, including cofounder Sam Walton's three children, Rob, Jim, and Alice; who is one of the richest women in the world with a $56.8 billion fortune. The family owns 49% of the company; the other 51% is split among 108 Fidelity executives. Its results arent reported as part of FMR. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Chambers owns a massive footprint of car dealerships in the Greater Boston area. They reportedly spent much of the 2000s arguing over trusts, ultimately dividing up the fortune at the end. By clicking Sign up, you agree to receive marketing emails from Insider Forbes called him "arguably the greatest hedge fund manager of his generation," reporting that the company currently manages $13 billion. The intersection of Devonshire and Water streets in Bostons financial district is the hub of one of the biggest fortunes in the U.S. Each weekday morning, buses from BostonCoach Corp., a transportation company operating in 40 countries, shuttle commuters around the city, a trip that includes a stop at the Boston Seaport, a 180,000 square-foot waterfront hotel and exhibition complex. These are the 25 local names on Forbes billionaires list: Johnson has served as the CEO of Boston-based Fidelity Investments since 2014 and owns an estimated 24.5 percent stake of the firm, according to Forbes. Jim Koch, the creator of Samuel Adams beer, has a net worth of $2.6 billion. The top 10 nationally, and the richest person in America, may come as no surprise. Safra owns Banco Safra, one of the largest banks in Brazil, and Switzerland's private bank, J Safra Sarasin. . Johnson is the youngest daughter of Edward "Ned" Johnson III, the former chairman of Fidelity Investments, a mutual fund company. The Mulliez family is behind Auchan, one of the biggest supermarket chains in Europe, per Bloomberg. MacKenzie Scott, ex-spouse of Amazon founder Jeff Bezos, is the second richest woman for the second year in a row. Combined, the richest Americans hold $3.2 trillion; this is an increase of $240 billion from last year. Today, there are more than 10,000 stores between the two branches, Aldi Nord and Aldi Sud. Naratil will become the firm's chief financial officer and lead the division that will oversee the Credit Suisse merger, a Swiss newspaper reports. [4] She was the richest person in Massachusetts in 2020. Ray Dalio's hedge fund, Bridgewater Associates, is one of the biggest in the world, managing a portfolio of around $160 billion in global investments. Walmart reported sales of $514.4 billionin 2018, making it the largest retailer by revenue in the world. The Quandt family is Germany's wealthiest family, thanks to their nearly 50% stake in luxury vehicle maker BMW. Steve Conine The co-founder and co-chairman of Boston-based online home goods store Wayfair, Conine is worth $3.6 billion. Source of wealth:Inherited; Fidelity Investments. The Edward C. Johnson Fund, the familys charitable foundation, has disbursed more than $225 million to charities since 2000, according to IRS filings. Today, 23 members of theCargill-MacMillan family own 88% of the company, which generated $115 billion in revenue in the year before May 2020. A.N. Abigail Johnson Net worth: $14.9 billion Michigan Daniel Gilbert Net worth: $5.9 billion Minnesota Whitney Macmillan Net worth: $5.4 billion Mississippi Leslie Lampton Net. display: none; The chain has also been called the "Walmart of France." Combined with the familys collection of other assets, including a lumberyard chain, a farm and interests in oil and gas, the Johnson clan is worth $22 billion, according to the Bloomberg Billionaires Index. Elizabeth is Abigail Johnsons sister. 53: Cathie Wood, Founder, CEO, & CIO, Ark Invest, No. The Ambani family's wealth lies in Reliance Industries, a conglomerate in India that owns the biggest oil refining complex in the world, Business Insider previously reported. Johnson is the grandson of Edward Johnson II, who founded Fidelity Investments in 1946. Shah is the chief executive of Boston-based Wayfair, which generated $14 billion in net revenue in 2020, up 55 percent from the year prior. She was born in Moravia. Hostetter, 83, now operates Pilot House Ventures and is a philanthropist. She's also one of the most. Jacquelyn's son, Stephen Badger, was formerly chairman and is currently on the board of directors of the privately-held Mars Inc., which brings in more than $38 billion in annual revenue, according to Bloomberg. 55. 15 Richest Americans in Finance, Investments: Forbes, Slideshow Ned Johnson, 82, is worth $6.9 billion, according to the index. The value of each persons public holdings is updated every five minutes when stock markets are open. Source of wealth:Self-made; Kotak Mahindra Bank. Prior to becoming an analyst at Fidelity, the elder Johnson served in the U.S. Army, according to Forbes. It manages $2.9 trillion in assets,Forbessaid. Tepper cofounded the hedge fund company Appaloosa Management in 1993. Hes a citizen of both the United States and Russia. Like his daughter, his net worth took a dive in 2020 but doubled between 2020 and 2021. Abigail Johnson, chairman and chief executive officer of Fidelity Investments. April 27th, 2023, 1:57 PM PDT. William W. Cargill founded agribusiness giantCargill Inc.in 1865. The Johnsons, led by polymathic patriarch Edward "Ned" Crosby III, built a $46.3 billion fortune with Fidelity Investments, whose products shape the finances of about 32 million people worldwide. Kraft bought the New England Patriots in 1994 for $172 million and the team is now worth $4.1 billion, with six Super Bowl victories. Through the fund, he acquired a controlling stake in an insurer during its privatization. Prokhorov bought the team then known as the New Jersey Nets for less than $400 million in 2009 and sold it in 2019 for $2.35 billion. Tepper bought the football team the Carolina Panthers for $2.3 billion in 2018 and is the richest man in the NFL. Dalio has always taken a radical approach to management, making everything his fund does completely transparentto employees. Koch Industries generates roughly $115 billion in revenue annually. Amid the economic turbulence brought on by the pandemics second year, the 14 financial leaders on Forbes 2021 Most Powerful Women list overcame unprecedented challenges while continuing to strengthen some of the worlds largest banking and financial institutions. Doris Fisher, cofounder of retailer Gap, also dropped off this year, as did real estate heirs (and siblings) Amy Goldman Fowler and Diane Kemper of New York. The three Belgian families of Van Damme, de Spoelberch, and de Mevius share claim to more than $54 billion in wealth from beer company Anheuser-Busch InBev. Based on an analysis of the filings, it is estimated the Johnsons own about 80 percent of Northern Necks assets. Thomas Peterffy, who is often considered the father of modern trading, founded discount trading company Interactive Brokers in 1995. The next wealthiest Bay Stater Valentin Gapontsev, 81, founded IPG Photonics, the creator of high-power fiber-optic lasers, according to. His daughter Abigail P. Johnson, Fidelity's president, has a net worth of $10.1 billion. The majority of her wealth is derived from shares in Fidelity Investment. ThinkAdvisor identified the 15 financiers and investors at the top of the pecking order. In the last several years, Schwarzman has taken a backseat in the day-to-day decisions at Blackstone but he still remains prominent in fundraising. He also famously owned the NBA franchise Brooklyn Nets. A cable TV pioneer in the 1990s, Amos Hostetters net worth is $3.5 billion, according to Forbes. No. The second wealthiest person is Bill Gates of Microsoft with $111 billion, and third was Mark Zuckerberg of Facebook with $85 billion. Laura Cha, chairman of the Hong Kong Stock Exchange, debuts at no. With a net-worth of $25 billion, Johnson also appeared on the 2021 Forbes 400 list, placing 27th. Niraj Shah Conine shares the rank of ninth and tenth richest person in Massachusetts with his Wayfair co-founder. The net worth of Abigail Johnson is computed to be $16 Billion as of April 2023. Source of wealth:Self-made; Renaissance Technologies. 1,444 Timothy Springer, $2.2 billion. No. A cable TV pioneer in the 1990s, Amos Hostetters net worth is $3.5 billion, according to. With a masters in business administration, and $1,500, Hostetter began investing in the cable television company that would one day become Continental Cablevision. Her grandfather, Edward Johnson II, founded the. He has degrees from the University of Pittsburgh and Carnegie Mellon. Association Familiale Mulliez, the family holding company, also controls Leroy Merlin, a home improvement chain, and Decathlon, a sports equipment retailer. Shes grown Fidelitys discretionary assets by nearly $1.3 trillion, to $4.2 trillion, since last year. He was a special adviser to President Trump on regulation until his resignation in August 2017. . His father founded the company in 1946. Gervis spent 15 years managing various Johnson family investment companies and Fidelity divisions. Pritzker and sons Jay, Donald, and Robert created the family's wealth by founding theHyatt Hotel chainand investing in holdings, such as Marmon Group. For doing just that, Abigail Johnson, Chairman & CEO of Fidelity Investments, ranks no. Abigail Johnson Johnson, 59, took over as the CEO of Boston-based Fidelity Investments in 2014, taking over for her father, and became the chairman in 2016. Trefler launched Cambridge-based software company Pegasystems in 1983. The business started as a finance firm before becoming a bank in 2003. Chia Ek Chor founded Thai diversified conglomerate Charoen Pokphand Group in 1921. (The remaining 46 inherited their wealth.) The family has also given more than $200 million to charities in the U.S. and Canada through the Salem, New Hampshire-based Fidelity Foundation. She holds a 5.56 percent stake of FMR, which you may remember is Fidelitys parent company. They also have stakes in Logwin, a German logistics company, and Gemalto, a security software company. It manages $2.9 trillion in assets, Unlike the Johnsons, the wealth of Jim Davis, 77, and family has been on an upward trajectory since 2017, and in 2020 it reached $6.9 billion, according to. I love this stuff Bitcoin, Ethereum, blockchain technology and what the future holds, Johnson said at Consensus, a New York City blockchain conference in 2017. The combined net worth of the five generations of the families fell more than that of any other family on this ranking $16 billion per Bloomberg. Shah has sat on the Federal Reserve Bank of Bostons board since 2017, according to, Koch founded the company in 1984 after he began brewing using his great-great-grandfathers recipe from the 1870s, according to. 1,444 Phillip T. (Terry) Ragon, $2.2 billion. She's also publicly championed the use of bitcoin. Griffin bought a record-breaking penthouse overlooking Central Park in Manhattan in 2019 for $238 million. Once off the bus, many of the passengers hustle toward 82 Devonshire, the headquarters of Fidelity Investments, the second-largest U.S. mutual fund company. Tokiko Shimizu, the first female executive director of the Bank of Japan in its 130-plus year history, debuts at no. As a child he delivered newspapers on his bike, andby 11, the Nebraska native had purchased his first shares in the stock market Cities Service Preferred at $38 apiece and sold them for a $5 profit. They have embraced their positions of influence to bring about change with impact on economies across the world. Founder James Cox's five grandchildren share the family fortune, according to Forbes. Details about Northern Necks holdings were disclosed in the 2010 FMR prospectus due to accounting principles that required disclosure because of the Johnson familys control of FMR. The move may have been prompted by the states favorable trust taxes, the magazine said. As part of the restructuring, shareholders including the four Johnsons received $2.9 billion in subordinated debentures as payment for the terminated shares. 53. Pembroke manages 6.5 million square feet of office and residential real estate, including the Boston Seaport, a hotel and exhibition complex. Last month, Abigail Johnson was appointed president of Fidelity Investments, and was given responsibility over asset management, brokerage, retirement and benefits services. according to the 2021 Forbes worlds billionaires list. York was also president of the NHL's Pittsburgh Penguins when the. 42: Marianne Lake & Jennifer Piepszak, Co-CEOs, Consumer & Community Banking, JPMorgan Chase, No. An error occurred. The failed bank, which had about $290 billion in wealth management assets, will increase JPMorgans reach to high-net-worth clients in what it deems attractive locations. In 1977, when Ned Johnson III became CEO of FMR, Americans had less than 3 percent of their financial assets in mutual funds, according to ICI data. Daliohas said thathe attributes his success, in part, to reminding himself that history repeats itself and keeping track of the decisions he's made that didn't work. The company made him rich in the 1990s. He took the company public in 2007, but still owns the majority of it. The founder and former chief executive of Continental Cablevision, Inc. made his wealth after selling the company in 1996 for $11 billion, Forbes says. The top industry to be in is finance and investments (10 list members), followed by fashion and. Even during a pandemic, when many are unable to pay rent or their mortgage once the eviction moratorium ends, and the unemployment rate was 16.1 percent in Massachusetts and 10.2 percent nationally in July, the wealthiest in the nation have gotten wealthier. Kraft, 79, has owned the New England Patriots since 1994 when he bought the team for $172 million. 6: Abigail Johnson, Chairman & CEO, Fidelity Investments, No. He bought the textile company Berkshire Hathaway in 1969, transforming it into a holding company that would house the many lucrative investments that helped build his massive fortune and earn the nickname "The Oracle of Omaha.". December 16, 2021 at 04:18 PM Hostetters net worth has risen significantly since the beginning of the pandemic. The pharmaceutical company Roche Holding, the source of wealth for the Hoffman-Oeri family, was launched in 1896. Edward Johnson IV, 55, is the brother of Fidelity CEO Abigail Johnson, the states wealthiest resident, and is the grandson of Edward Johnson II, who founded the company. Johnson ranks as one of the richest women in the world. Sam and Bud Walton founded Walmart in 1962 in Rogers, Arkansas, Business Insider previously reported. If an individual owns a stake in a private company that accounts for 20% or more of their net worth, the companys value is adjusted according to an industry- or region-specific market index provided by FactSet Research Systems when available. Combined, the richest Americans hold $3.2 trillion; this is an increase of $240 billion from last year. The next wealthiest Bay Stater is Steve Conine, Wayfairs co-founder and co-chairman, with a net worth of $2.8 billion, according to Forbes. Abigail Johnson has served as CEO of mutual fund giant Fidelity Investments since 2014 when she succeeded her father Ned Johnson III chief executive officer. Long shy of the media spotlight, personal insight into the family often falls to rumor and old stories. Musk is a major proponent of bitcoin, the cryptocurrency that has exploded in popularity and value over the past year. The Johnsons own 49 percent of the company, according to U.S. Securities and Exchange Commission filings. He then began selling his Boston Lager, the first beer he ever made, door-to-door to Boston restaurants and bars. The next largest bump went to Laurene Powell Jobs, widow of Apple visionary Steve Jobs and founder of investment and advocacy firm Emerson Collective, thanks to a 66% jump in Apple stock and a 53% rise in Disney shares.
