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This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.
Johnson has served as the CEO and president of Fidelity Investments since 2014 which was founded by her grandfather Edward Johnson II in 1946 who founded FMR LLC which is controlled by the Johnsons. Abigail is one of the world’s wealthiest women and was ranked 6th in Forbes’ “Powerful Women” list in 2021. As of November 2022, Abigail has a net worth of $22.6bn according to Forbes which would rank her as the 63rd richest person in the world. In this article, we will investigate if Abigail manages her wealth through a family office.
Johnson family manages wealth through Fidelity Investments
The Johnson family holds a 49% stake in the private company and Abigail independently has a 24.5% stake in the company. Fidelity employs 45,000 people worldwide with a united goal to make investment inclusive and affordable across all demographics. Abigail established the Fidelity Boundless programme in 2015 to make investment more inclusive for women. In 2018, she played a key role in launching a platform to provide access to crypto investments such as bitcoin and ether. Through F-Prime capital, the private venture capital arm of the Johnson family including siblings Elizabeth and Edward have invested in numerous ventures. The family owns shares in Impresa Management, Colt Group, Discovery Natural Resources, and venture capital firm Eight Roads. Colt Group is one of the family’s largest investments, with a 46% ownership of the company which had a €1.6bn revenue in 2021. F-Prime is also Ultragenyx’s largest mutual fund investor with over 4.6 million shares. In 2021, the Johnson family’s wealth rose by $6.2bn which was due to their success in retail investments and the rise of retail investors through the 2021 ‘meme-stock’ boom.
Picture source: Adam Nowakowski