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Wednesday, April 07, 2021

The U.S. MF Industry's 19 Billionaires

News summary by MFWire's editors

Of 2,755 billionaires in the world, at least 19 are U.S. fundsters or otherwise connected to the U.S. mutual fund industry.

Abigail "Abby" Pierrepont Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO
The Forbes team released their 2021 World Billionaires List (the magazine's 35th annual world billionaires list) yesterday, and Fidelity CEO/scion Abby Johnson remains the top-ranked U.S. fundster, at number 85 (up from 124 in 2020) thanks to an estimated net worth of $20.29 billion. She also remains the richest person in Massachusetts.

Chuck Schwab, chairman and founder of Charles Schwab, ranks 210th on the list (up from 221 last year) with $10.6 billion.

Ned Johnson, Abby's father and her predecessor as chief, ranks 219th (up from 304th) with $10.3 billion.

Joe Mansueto, founder and executive chairman of Morningstar, ranks 539th (up from 743rd) with $5.2 billion.

Charles Johnson, former CEO of Franklin Resources, ranks 574th (down from 426th) with $4.9 billion.

Edward Johnson IV and Elizabeth Johnson, siblings to Abby and fellow Fidelity shareholders, are tied for 589th (up from 875th) with $4.8 billion each.

Mark Walter, CEO of Guggenheim Partners, ranks 608th (up from 764th) with $4.7 billion.

Ron Baron, founder of Baron Capital, ranks 638th (up from 908th) with $4.5 billion.

Rupert Johnson Jr., vice chairman of Franklin, ranks 705th (down from 616th) with $4.1 billion.

Jeffrey Gundlach, CEO and co-founder of DoubleLine Capital, ranks 1,444th (down from 1,001st) with $2.2 billion.

David Booth, co-founder and executive chairman of DFA, ranks 1,750th (down from 1,513th) with $1.8 billion.

Mario Gabelli, chairman and CEO of Gamco, also ranks 1,750th (down from 1,415th) with $1.8 billion.

Bill Gross, co-founder of Pimco, ranks 2,035th (down from 1,415th) with $1.5 billion.

Fayez Sarofim, chairman and co-CIO of Fayez Sarofim & Co, also ranks 2,035th (down from 1,851st) with $1.5 billion.

Cliff Asness, co-founder of AQR, ranks 2,141st (down from 804th) with $1.4 billion.

Alfred West, Jr., founder of SEI, also ranks 2,141st with $1.4 billion.

Tom Bailey, founder of Janus, ranks 2,378th (down from 1,730th) with $1.2 billion.

And Larry Fink, chairman and CEO of BlackRock, ranks 2,674th with $1 billion. 

Edited by: Neil Anderson, Managing Editor


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