Early Life
Abigail Pierrepont Johnson was born in Boston, Massachusetts, on December 19, 1961. She is the granddaughter of Edward C. Johnson II, who founded Fidelity Investments in 1946. Growing up, Johnson was exposed to the financial world, which influenced her career path. She attended Buckingham Browne & Nichols School and graduated from William Smith College in 1984 with a bachelor's degree in art history.
Rise to Success
In 1988, Johnson earned an MBA from Harvard Business School and joined Fidelity Investments the same year as an analyst and portfolio manager. She rose through the ranks, becoming President of Fidelity Asset Management in 2001. In 2012, she was named President of Fidelity Financial Services. In 2014, she took over as CEO of Fidelity Investments from her father, Edward C. Johnson III, and was named Chairman in 2016, giving her full control of the company.
Key Business Strategies
Under Johnson's leadership, Fidelity has embraced technological advancements and expanded its services. She spearheaded Fidelity's entry into cryptocurrency investments in 2018, launching a platform for institutional investors. She also oversaw Fidelity's expansion into digital assets and new investment products. She reduced dependence on open-ended mutual funds, shifting the focus towards financial advice, brokerage services, and venture capital.
Philanthropy
Abigail Johnson is committed to philanthropy and serves as the Chair of the Fidelity Charitable Board of Trustees. She has facilitated significant charitable contributions through Fidelity Charitable, supporting various causes including education, healthcare, and the arts. In 2023, Fidelity made a $190 million gift to the United Negro College Fund (UNCF) for a scholarship program, the largest philanthropic gift in UNCF's history.