as of 8/28/20 After a stint in the Army, Edward "Ned" Johnson III became an analyst at money manager Fidelity, which his dad founded in 1946. Ned led Fidelity as CEO for 37 years; his daughter...

BOSTON (Reuters) - Long-time Fidelity Investments Chairman Edward C. Johnson III will retire next month and will be succeeded by his daughter, Abigail Johnson, the company said on Monday.

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. But the Johnsons own other assets as well, Bloomberg recently reported. The family is worth $22 billion, the Bloomberg article said. Ned Johnson, 82 is worth $6.9 billion.

Third-generation family member Abigail Johnson (pictured above) took over the CEO role at mutual fund behemoth Fidelity from her father Ned in late 2014. Her grandfather Edward C. Johnson II (d ...

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