Edward Crosby "Ned" Johnson III (June 29, 1930 – March 23, 2022) was an American billionaire businessman who, along with daughter Abigail Johnson, owned and ran Fidelity Investments and Fidelity International until his death in March 2022. As of 2019, his net worth was estimated at US$8.2 billion.<!--Date originally offered said as of 2021, but the source date is March 2019.-->
Early life
Johnson was born in Milton, Massachusetts, the son of Elsie Livingston Johnson and Edward C. Johnson II. He attended prep school at Milton Academy before transferring to Tabor Academy, and graduated with a bachelor of arts and sciences degree from Harvard College in 1954.
Society memberships, awards, and honors
Johnson was a fellow of the American Academy of Arts and Sciences, a trustee of the Beth Israel Hospital and the Boston Museum of Fine Arts and a member of the Boston Society of Security Analysts.
He has been given honorary doctorates by Boston University, Bentley College and the Hobart and William Smith Colleges. He was an honorary fellow of London Business School.
Wealth and philanthropy
Ned Johnson III was a descendent of loyalist merchant and slaveholder Robert Gilbert Livingston (1712–1789) and Catharina Johnson McPheadres Livingston. Livingston had over a hundred thousand acres in New York on the Hudson River Valley, Brooklyn, Long Island and Harlem. By royal charter of George I of Great Britain in 1686, Robert "The Elder" Livingston (1654–1728) was granted a patent to 160,000 acres along the Hudson River.
With an estimated net worth of around $8.4 billion, he was ranked by Forbes as the 57th richest person in America.
In 1965, the USbased Fidelity Foundation was founded by Edward C. Johnson III and his father. The Edward C. Johnson Fund, a $334 million charitable fund, contributes to institutions in the Boston area and beyond.
Personal life
His wife was Elizabeth B. "Lillie" Johnson, a trustee of the Museum of Fine Arts
His other daughter is Elizabeth L. Johnson. In 2012, it was estimated that Elizabeth had a net worth of roughly $2.5 billion.
His son, Edward Johnson IV, is president of family-owned Pembroke Real Estate. The firm manages 6.5 million square feet of office and residential real estate, including the Boston Seaport. In 2012, Edward's net worth was estimated at $2.5 billion.
References
External links
- Babson College Profile
- IRS Form 990, Edward C. Johnson Fund, 82 Devonshire Street S3, Boston, MA, 020109, Anne Marie Soulli, Director.