The Richest Family You've Never Heard Of
About this episode
Paul Ollinger interviews journalist Justin Baer about the Johnson family and their influence on Fidelity Investments.
Investment management firm Fidelity is a private company that administers over $18 trillion in assets—that’s greater than the GDPs of Germany, Japan, the United Kingdom, and France combined . (Or, it’s18 Elon Musks.) Last year, the company earned almost $13 billion in profit , half of which goes to the family who started it. To be more precise, it goes to the founder's grandchildren, a few of whom have taken major roles inside the still-burgeoning business. My guest this week is Justin Baer, award-winning journalist at the Wall Street Journal and author of the new book House of Fidelity: The Rise of the Johnson Dynasty and the Company that Changed American Investing . I n this conversation, Justin and I discuss: * How this financial family dynasty was built * Succession planning for a complex and massive family business * The rise of Abigail “Abby” Johnson, Fidelity’s Chairman CEO and founder’s granddaughter, with estimated net worth of $35 billion. Get Justin’s book here . Subscribe to Paul's Substack here . See Paul (aka, Me) Tell Jokes Live Near You! * Los Angeles: The Venice West , 7/21 * New York: QED Astoria , 7/31 * San Francisco: Cobbs Comedy Club , 7/23 * Southampton…
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