Brothers Charles and David Koch expanded their father's oil refinery firm into conglomerateKoch Industries after their other brothers, Frederick and William, left the business following a failed takeover. A cable TV pioneer in the 1990s, Amos Hostetters net worth is $3.5 billion, according to Forbes. Abigail Johnson again ranked as the wealthiest person in Massachusetts, a distinction she has held for many years. Forbes gave Hostetter the highest philanthropy score out of the wealthiest Massachusetts residents. Forbes puts Abigail Johnson 's net worth at $11.8 billion, putting her at No. No. Edward Ned Johnson III Ned Johnson, 90, is Abigails father, who was CEO of Fidelity Investments before her. The valuation used in this analysis was updated to $103 billion on Aug. 18, 2022 to reflect the average of five. Philip Ragon and his wife, Susan, have given to various causes over the years. 53. Safra eventually got in the business himself, founding Banco Safra in the 1960s. Mike Bloomberg never donated directly to Biden's campaign, . Today,the fortuneis split among 13 family members, 11 of whom are billionaires. The New England Patriots owner, and chairman and CEO of The Kraft Group, placed just within the top 100 wealthiest people in the country with a net worth of $6.6 billion,Forbes said. While his net worth climbed in the years before the pandemic, it has stayed the same the past two years. The growth attributed to the elder Johnsons reign has slowed in recent years. Bloomberg Billionaires Index - Abigail Johnson Overview Johnson is the chief executive officer of FMR, the parent of Fidelity. Fidelity's parent company is FMR LLC. But the Johnsons own other assets as well,Bloomberg recently reported. The Boehringer and von Baumbach families control German pharmaceutical company Boehringer Ingelheim, which has been around for more than 130 years, per Bloomberg. She holds a 5.56 percent stake of FMR, which you may remember is Fidelitys parent company. Brothers Ernest and Julio. These are the richest people in Massachusetts for 2020, according to Forbes He also has a net worth of $2.8 billion. Today, his descendants control Tetra Laval, one of the world's biggest packaging companies, which is comprised of Tetra Pak, Sidel, and DeLaval, per Bloomberg. She was born in Moravia. The 25 Richest Billionaire Families in America, Ranked - Business Insider Griffin started Citadel three years later in 1990. It's still owned by the Albrecht family trust. The top 10 nationally, and the richest person in America, may come as no surprise. Shah has sat on the Federal Reserve Bank of Bostons board since 2017, according to, Koch founded the company in 1984 after he began brewing using his great-great-grandfathers recipe from the 1870s, according to. He also owns a stake in the Premier League soccer team Liverpool. Since founding his own investment firm in 1968, Icahn has become one of themost powerful people in finance, investing in scores of high-profile companies, including RJR Nabisco, Philips Petroleum, Viacom, Marvel, Time Warner, Netflix, and Herbalife. Founder James Cox's five grandchildren share the family fortune, according to Forbes. The chairman of New Balance, Davis and his family own an estimated 95 percent of the Boston-based athletic wear brand, which brings in about $4 billion in annual sales. Jeff Bezos, the CEO of Amazon, is the richest man in America with a net worth of $179 billion, according to Forbes. David Koch passed away in August 2019, leaving his $53 billion fortune to his wife Julia Flesher Koch, Business Insider reported at the time. # 40 Abigail Johnson $31.1B Random fact: Joined Fidelity in 1988 as analyst after receiving Harvard MBA. Kraft, 79, has owned the New England Patriots since 1994 when he bought the team for $172 million. Crown Prince Mohammed bin Salman alone has assets estimated to be worth more than $1 billion, and has been known to drop millions on mansions and yachts. Vinciarelli, a first-time member of the billionaire list, founded Vicor Corp., an electronics manufacturer in Andover. Johnson's wealth is approximately $22.6 billion, [8] making her one of the world's wealthiest women. Net worth: $10.7 billion Source of wealth: E & J Gallo Winery The Gallo family fortune is derived from a few avenues. Bloomberg Net worth: $15.7 billion Age: 75 Country of citizenship: US Source of wealth: Self-made; founded Interactive Brokers Thomas Peterffy, who is often considered the father of modern. Also new this year: Trudy Cathy White, who joins after Forbes found documentation showing she inherited part of the Chick-Fil-A fried chicken chain started by her father, Truett Cathy (d. 2014), in 1967; her two brothers, Bubba Cathy and Dan Cathy, have been Forbes 400 members since 2015. This net worth primarily consists of the shares of Fidelity Investments, of which Mrs Abigail Johnson is both the CEO and President. 1,111 Valentin Gapontsev and family, $2.8 billion. 6 on the list and is this year's most powerful woman in finance. Alfond and his siblings are billionaires because of Warren Buffetts purchase of the Dexter Shoe Company, a firm their father sold for Berkshire Hathaway stock. But, among this years Forbes 400 list of the wealthiest people in the U.S., women continue to hold their ground. rent or their mortgage once the eviction moratorium ends, and the. Edward C. "Ned" Johnson III and his family are best known for their ownership stake in Fidelity Investments, the second-largest U.S. mutual fund company. Shes been the companys chairman since 2016. Edward Johnson IV, 55, is the brother of Fidelity CEO Abigail Johnson, the states wealthiest resident, and is the grandson of Edward Johnson II, who founded the company. She was named on Forbes ' "The Richest Person In America's 50 Largest Cities" list in 2016 and ranked sixth in 2021 on their "Powerful Women" list. Overall, Forbes said the list is made up of 2,275 people, which means the list has grown by about 30% in the last year. A cable TV pioneer in the 1990s, Amos Hostetters net worth is $3.5 billion, according to. Record producer Kenny Beats takes us on a journey from Berklee College of Music to blowing up the electronic dance music scene to reemerging as a sought-after hit maker and content creator, all while building one of the most interactive, music-obsessed communities on the internet. Bloomberg estimated that FIL is worth $2.7 billon. Learn more about reprints and licensing for this article. Stay up to date on all the latest news from Boston.com. For doing just that, Abigail Johnson, Chairman & CEO of Fidelity Investments, ranks no. Today, York and her family own more than 90% of the NFL team, now worth $3.8 billionthe fifth-most valuable team in the league. At age 57, she is worth $4.8 billion. Please try again later. Watch Bloomberg Markets Full Show (04/27/2023) - Bloomberg JPMorgan and the FDIC, which orchestrated the sale, agreed to share the burden of losses, as well as any recoveries, on the firm's single-family and commercial loans. Fewer women this year have self-made (as opposed to inherited) fortunes, with just 10 claiming the distinctiondown from 11 in 2020. The immense wealth of Saudi Arabia's royal family comes from a combination of proceeds from Saudi Arabia's oil industry (which the executive office of the King doles out to various family members) and the royals' personal earnings from negotiating government contracts and other investments, according to Bloomberg. They also gifted a $200 million endowment for the Ragon Institute of Massachusetts General Hospital, MIT and Harvard, according to Forbes. As of the end of 2010, the foundation had $401.6 million in assets held in Fidelity mutual funds and a portfolio of individual securities, the filings show. His daughter Abigail P. Johnson, Fidelity's president, has a net worth of $10.1 billion. Theo also invested in Trader Joe's, transforming it into a chain with more than 350 stores. Fidelity Trading Boom Lifts Johnson Family Wealth to $48 Billion Family fortune rose by $6.2 billion after firm's 2021 results Abigail Johnson, Fidelity's CEO, is now worth $21.5 billion. A Dec. 31, 2000, report to Utahs Department of Insurance listed the pair as each owning 5.6 percent, according to a 2004 Bloomberg Markets magazine article. I love this stuff Bitcoin, Ethereum, blockchain technology and what the future holds, Johnson said at Consensus, a New York City blockchain conference in 2017. Theyre worth a collective $564 billion, up by more than $100 billion from 2020. Safra owns Banco Safra, one of the largest banks in Brazil, and Switzerland's private bank, J Safra Sarasin. No. His net worth is $2.3 billion. Brothers Theo and Karl Albrecht created the discount supermarket Aldi, Bloomberg reported. 20 Richest Women in the U.S.: Forbes | ThinkAdvisor In its biggest deal since the financial crisis, Blackstone last yearagreed to buy a majority stake in the Financial and Risk business of Thomson Reutersin a $20 billion deal. The business started as a finance firm before becoming a bank in 2003. Johnson is the grandson of Edward Johnson II, who founded Fidelity Investments in 1946. 87: Dominique Senequier, Founder & President, Ardian. I cover banking, fintech and all things money. Springer is an immunologist and professor at Harvard Medical School. Steve Conine The co-founder and co-chairman of Boston-based online home goods store Wayfair, Conine is worth $3.6 billion. [4] She was the richest person in Massachusetts in 2020. Fidelitys assets under management grew from $39.5 billion in 1985 to $409.5 billion a decade later. The Johnsons also own 39.89% of FIL Ltd., known as Fidelity Worldwide, a fund company for investors outside North America; fund managers and senior employees own the rest. Since that filing, Fidelity has elected to disclose only the total family ownership. Now the world's largest private equity firm, Blackstone manages $439 billion in assets. . 15. His late brother Edmond J. Safra is a notable philanthropist. Abigail Johnson has served as CEO of mutual fund giant Fidelity Investments since 2014 when she succeeded her father Ned Johnson III chief executive officer. The electronics giant has helped the Lees become one of Asia's richest families. 380 Jim Davis and Family, $6.9 billion. They also gifted a $200 million endowment for the Ragon Institute of Massachusetts General Hospital, MIT and Harvard, according to. Fidelity's lesser-known billionaires: Bloomberg digs up numbers ), 1845 Walnut Street Suite 900 Philadelphia, PA 19103, Transformational Women in Family Business 2023, 2021 Family Business Executive Compensation Survey. In 2018, institutional investors at the bank were given the ability to trade bitcoin and ether cryptocurrencies. Modernas success put Bancel on the billionaires list for the first time. The exact ownership by the four Johnson family members is less transparent. Jeff Bezos, the CEO of Amazon, is the richest man in America with a net worth of $179 billion, according to. The value of each persons public holdings is updated every five minutes when stock markets are open. Combined, the richest Americans hold $3.2 trillion; this is an increase of $240 billion from last year. And for the first time ever, a new listee debuts with a tie: Jennifer Piepszak, the co-CEO of Consumer and Community Bankingat JPMorgan Chase, shares no. The next wealthiest Massachusetts resident? He also famously owned the NBA franchise Brooklyn Nets. Her net worth is nearly double that of her father, the next Massachusetts billionaire on the list. Newhouse founded the publishing giant in 1922, per Bloomberg. For Massachusetts, here are the wealthiest residents, and where they placed on the Forbes list: After a decline in her net worth from $17.3 billion in 2018 to $14 billion in 2019, Johnsons wealth increased to $15 billion in 2020, placing the Fidelity Investments CEO as the 34th richest person in the country, and the richest in Massachusetts. ThinkAdvisor identified the 15 financiers and investors at the top of the pecking order. Chambers owns a massive footprint of car dealerships in the Greater Boston area. She has served as CEO since 2014, when she took over for her father, and became chairman in 2016. . 589 Elizabeth Johnson, $4.8 billion. Bloomberg Billionaires Index - Elizabeth Johnson It generates about $21 billion in revenue. As of April 20, 2023 The Bloomberg Billionaires Index is a daily ranking of the world's richest people. 45: Thasunda Brown Duckett, CEO, TIAA, No. Bloomberg Billionaires Index - Jack Ma Shes $5.6 billion richer than last year as a result of the 13% rise in Walmart stock. The closely held mutual fund operator reported revenue of $12.8 billion and operating income of $3.3 billion in 2011. Thomas Peterffy, who is often considered the father of modern trading, founded discount trading company Interactive Brokers in 1995. Nutella's immense popularity in Italy helped grow the family chocolate shop into a multibillion-dollar business that now also produces Ferrero Rocher, Tic Tac mints, Kinder chocolate, and Butterfinger bars, Forbesreported. Ned Johnson IV is president of family-owned Pembroke Real Estate, which he helped create in 1997, the Bloomberg article said.