Besides names like Warren Buffett or Charlie Munger , the world's financial markets also have their own roses with astute business operations thinking. One of the most successful women is Abigail Johnson. Her success is recognized by the world not only because of her wealth but also because of her outstanding effort to escape the shadow of the previous generation. So who is Abigail Johnson? Let's find out with Coin68 through the article below.
Who is Abigail Johnson? Biography of the richest woman in the world
Who is Abigail Johnson?
Abigail Johnson is an American businessman and billionaire. She is also the Chairman and CEO of Fidelity, one of the largest financial corporations in the world. Currently, Abigail Johnson is ranked 72nd on the list of world billionaires and is the richest female billionaire on the planet with assets of more than 26 billion USD.
Portrait of Abigail Johnson
Abigail Johnson (full name: Abigail Pierrepont Johnson) was born on December 19, 1961 in Milton (Massachusetts, USA) into a family rich in business tradition. Her grandfather was Edward C. Johnson, founder of the financial services company Fidelity in 1946. With his talent and acumen to the financial market, he and his son turned Fidelity into one of the leading companies in the world. largest financial company in the world at that time.
The successes and strong career progress of her father and grandfather created a huge barrier for Abigail Johnson. As the only child in the family and destined to become a billion-dollar heir, the pressure from struggle and milestones made Abigail Johnson falter in the face of her father's huge shadow. Therefore, instead of business or related professions, Abigail Johnson chose art to escape family tradition. In 1984, Abigail Johnson graduated from Hobart and William Smith College with a degree in art history.
However, when she grew up and matured, Abigail Johnson felt that what her family wanted for her was happiness, not great expectations imposed, so she returned to Fidelity to take over and prosper the family's achievements.
Abigail Johnson's career
Although she is the designated heir of Fidelity, Abigail Johnson's path to the hot seat of this group is not easier than others. After graduating from college, Abigail Johnson spent a short period of time working at Booz Allen Hamilton as a financial consultant. This job, in addition to providing experience, also provided enough finances for her to pay for an MBA degree at Harvard Business School. After graduating from Harvard, Abigail Johnson began her career at Fidelity in 1988 as an analyst and portfolio manager intern.
Although born into a family rich in business and investment tradition, Abigail Johnson does not have the same natural talent in choosing stocks as her father and grandfather. Therefore, she had to put in a lot of effort compared to her colleagues and was subjected to equal competition with everyone. Either give 200% effort or be fired, Abigail Johnson put all her focus into her career and rose from the lowest position.
After her efforts, Abigail Johnson was considered fair compared to her colleagues and she received a promotion. From being promoted to consultant to managing the company's portfolio for nearly a decade and countless different titles. Thanks to this journey, Abigail Johnson learned the necessary lessons of a successor from business to human resource management and recognizing business barriers.
In 2014, Abigail Johnson officially stepped to the pinnacle of her career and continued to succeed her father to run Fidelity. However, this is her first difficulty in the hot seat, which comes from the fact that the fierce remnants of the 2008 financial crisis still linger in the market.
As soon as she stepped in to run the company, Abigail Johnson asked all senior managers to restore the mutual fund at all costs, no matter how great the risk. This is not how Abigail Johnson tries to demonstrate her power, but in her opinion, owning a mutual fund will benefit the company in the long run. And she was right, more than 100 billion USD was poured into the company through mutual funds and at the same time, diverse investment packages attracted many investors, thereby bringing many customers to the group.
Besides, because she works in the corporation in different positions from the lowest to the highest, with every decision, Abigail Johnson shows determination and bravery to make every job produce results. . To date, Fidelity under the leadership of Abigail Johnson has achieved success beyond expectations. The group is currently one of the four largest financial corporations in the world next to BlackRock and Vanguard with assets under management. is 2 trillion USD.
Fidelity and cryptocurrency
After the first unsuccessful application in 2021, in June, asset management group Fidelity Investments re -submitted an application to establish a Bitcoin spot ETF with the US Securities Commission (SEC), following in the footsteps of the big guys. Wall Street has similar intentions as WisdomTree, Invesco, Valkyrie and BlackRock .
In addition, Fidelity is also one of three organizations wishing to establish a cryptocurrency exchange called EDX Markets , which aims to solve the shortcomings of the crypto market in 2022. .
On November 18, 2023, Fidelity Investments also participated in the Ethereum spot ETF race . Accordingly, Fidelity Investments' application submitted to the SEC stated that the Ethereum spot ETF will Vai as a protective shield when participating in the market instead of directly holding the ETF with many risks. In addition, Fidelity Investments also cited Grayscale's previous legal victory with the SEC to further strengthen the application's approval rate.
However, despite all the convincing reasons and evidence, Fidelity Investments' Ethereum spot ETF application still shows little sign of being approved soon. The reason partly comes from the SEC's unsympathetic view of the cryptocurrency market, which in the agency's eyes is still rife with fraud, conspiracy and manipulation.
summary
Above is general information about Abigail Johnson as well as her successes as leader of Fidelity Investments. Through the article, we hope Coin68 has given readers an overview of Abigail Johnson as well as what she has done as the leader of Fidelity Investments.
