Abigail Johnson No:29 Billionaire 2009
by saranya[ Edit ] 2010-03-08 15:49:34
Net Worth:$10.0 bil
Fortune:inherited and growing
Source:Fidelity
Age:47
Country Of Citizenship:United States
Residence:Boston, Massachusetts
Industry:Finance
Education:Hobart and William Smith Colleges, Bachelor of Arts / Science, Harvard University, Master of Business Administration
Marital Status:married, 2 children
With family, runs Fidelity Investments, America's largest mutual fund company. Falling markets cutting into revenues as assets under management shrank 22% to $1.25 trillion at the end of 2008. Company announced 3,000 job cuts last November, father Edward III refused to rule out more. "Ned" joined company as analyst 1957, president 15 years later. "Abby" ran her first diversified fund 1993. Ned reduced his ownership in 1995, Abby inherited a 24% stake; she is rumored to have sold shares back to family in recent years. Individual stakes now a secret. Family owns 49% of company. Abby became president of company's mutual fund division 2001. Today runs Personal & Workplace Investing division. Last year several top executives resigned, fueling speculation that Abby will eventually take over.
