Edward Crosby "Ned" Johnson 3rd (born 29 June 1930) is an American investor and businessman who, along with daughter Abigail Johnson, runs Fidelity Investments. His daughter Abigail has a net worth of $15 billion as of this writing. He is a scion of a prominent Boston family, the "Perkins" family.
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Johnson attended prep school at Milton Academy before transferring to Tabor Academy and graduated with a Bachelor's degree from Harvard College in 1954. After a stint in the US Army, he became a research analyst at Fidelity Investments in 1957, a company founded by his father Edward C. Johnson II in 1949. He became the portfolio manager for the Fidelity Trend Fund in 1960 and ran the famous Fidelity Magellan Fund from 1963 until 1977. He became president of the company in 1972 and chairman and CEO in 1977.
He started the practice of permitting check writing on money market funds. He was the first to sell discount brokerage services to banks, insurance companies and consumers. He supported and invested in automation of brokerage sales and operations.
Johnson is 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 holds honorary doctorates from Boston University, Bentley College and the Hobart and William Smith Colleges.
With an estimated current net worth of around $11.0 billion, he is ranked by Forbes as the 28th richest person in America.
The Edward C. Johnson Fund, a $231 million charitable fund.
   | Forbes 400 - #35 Edward Crosby Johnson III - Forbes.com |
| | Forbes.com: Forbes World's Richest People - Forbes.com: Forbes World's Richest People 2004 |
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