Last Updated: 12 Oct, 2023 | Views: 1088
Age: 91
Profession: Business Men
Other Profession(s): Entrepreneur
Famous For: Fidelity Investments And Fidelity International
Higher Education: Graduated
Net Worth: US$8.2 Billion
About (Profile/Biography):
Edward Crosby "Ned" Johnson III was a billionaire businessman from the United States who, together with his daughter Abigail Johnson, managed and owned Fidelity Investments and Fidelity International until his passing in March 2022. His estimated fortune in April 2021 was $8.2 billion USD. Johnson, the son of Edward C. Johnson II and Elsie Livingston Johnson, completed his undergraduate studies at Harvard College in 1954 after attending Milton Academy for prep school before moving to Tabor Academy. Abby Johnson, Johnson's daughter, said that her father passed away peacefully on March 23, 2022, surrounded by family.
Career:
In 1957: He served in the US Army before working as a research analyst for Fidelity Investments.
In 1960: He was appointed portfolio manager of the Fidelity Trend Fund.
In 1965: Edward C. Johnson III and his father established the Fidelity Foundation, which is situated in the US.
In 2012: He was estimated to be worth $2.5 billion.
In 2016: Edward announced his retirement in a memo to employees and that his daughter Abigail would take over the chairmanship.
Achievements and Awards:
Forbes ranked him as the 57th richest person in America with an estimated fortune of $8.4 billion.
London Business School honored him as an honorary fellow.
Unknown Facts:
He developed Fidelity's "Go-Go" stock funds by heavily promoting, aggressively managing it throughout the 1960s. Johnson is better known as Ned.
At the time of his passing, Fidelity was in charge of $11.8 trillion and more than 500 mutual funds.
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