Massachusetts Billionaires Topped by Abigail Johnson of Fidelity

Forbes’ list of Massachusetts billionaires grows to eight (slide show) – Boston Business Journal

According to Forbes, ” Fidelity scion Abigail Johnson is the richest person in Massachusetts. At 51, she’s also the youngest Bay Stater on Forbes’ list, where her $12.7 billion net worth puts her at No. 74. But she and Ned aren’t the only billionaires in the Johnson family, according to Bloomberg.”

Boston Business JournalImage


It’s Good To Be…Abigail Johnson, Fidelity Investments

Fidelity Investments

Image via Wikipedia

It’s that time of year: the Forbes 400, whose list proclaims the wealthiest of America’s wealthy!  Harvard dropout Bill Gates always sits securely in the number one berth – at least for the past 18 years!

At a resounding $59 billion, the 55 year old Gates takes the lead by a cool $20 billion!

And for the most part, Warren Buffet always cozies up at number 2, give or take a few billion.

The richest New Englander, with a net worth of approximately $11.7 billion is a woman, and happens to be the granddaughter of the founder of Fidelity Investments – Abigail Johnson, who ranks number 26 on the list.

Johnson, who is in charge of the workplace savings and retail brokerage operations, began as an analyst at the family biz where her father Ned, now 81, stepped down earlier this year as chairman of the internal board managing mutual funds.  While this move sparked the usual rumors of succession, wily Ned repeated his oft quoted mantra that there is a plan in place – no further discussion.

To put this into perspective, Johnson also ranks #69 in the entire world; eclipsing her father at $7.1 billion, and noted local luminaries such as Bob Kraft at $1.2 billion.

Johnson makes her home in Milton, a quick hop into the city, particularly by corporate car service.

Milton,MA home of New England's most wealthy member of Forbes 400-- courtesy Russ Schlepman

Forbes has some interesting data surrounding our plethora of billionaires, such as tracking how long it has taken some of the er, speedier types to make it on to the list, as well as noting once hugely popular billionaires whose skyrocketing fortunes sputtered to the ground or diminished substantially, including Jay Walker, founder of Priceline and Gary Winnick of Global Crossing.