Edward C. Johnson III took the mutual fund group Fidelity Investments, founded by his father, under his wing and turned it into one of the largest firms of its kind, making it one of mainstream America’s most well-known mutual fund family.
Johnson was born in Massachusetts in 1930 and attended the preparatory Milton Academy and the Tabor Academy. He has a BA from Harvard College, which he received in 1954, served in the US Army, and then became a research analyst at Fidelity Investments in 1957. In 1960 he became the portfolio manager for the Fidelity Trend Fund, and then managed the well-known Fidelity Magellan Fund from 1963 until 1977. In 1972 Johnson took over as president of Fidelity, and then in 1977 Johnson was named the CEO and chairman. Today Johnson is ranked by Forbes as the 44th richest person in the United States.