The Richest People In America: Edward Johnson III

#29 Edward Johnson III

$11.0 billion
Source: Fidelity

With family, runs Fidelity Investments, America's largest mutual fund company. Assets under management: $1.5 trillion. Joined father's company as analyst 1957, president 15 years later. Reduced his ownership in 1995, daughter Abigail 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. Last year several top executives resigned, fueling speculation that Abby will eventually take over from Ned.

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