MONEY mogul, Edward Ned Johnson, passed away on March 23, 2022, according to his family.
The former Fidelity CEO was 91-years-old.
Who was former Fidelity CEO Edward Ned Johnson?
Edward 'Ned' Johnson III, aged 91, was Fidelity Investments’s former chairman and chief executive.
In 1957, Johnson became a research analyst at Fidelity Investments, which was then owned by his father, Edward C Johnson II.
A few years later, he became the portfolio manager for the Fidelity Trend Fund and from 1963 to 1977, ran the famous Fidelity Magellan Fund.
In 1972 Johnson became the president of the company and five years later, the chairman and CEO.
In November of 2016, Johnson announced his retirement and turned over his chairmanship to his daughter, Abigail.
What was Edward Ned Johnson's cause of death?
In a LinkedIn post on March 24, 2022, his daughter, Abigail Johnson, paid tribute to her father, the former chairman and CEO of the financial-services giant he had led for nearly 40 years.
In the post, Abigail wrote that her father died late Wednesday and "passed away peacefully at home in Florida surrounded by his family."
“He loved his family, his coworkers, work, the stock market, art and antiquities, tennis, skiing, sailing, history and a good debate.
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“He could be counted on to have the contrarian view on just about anything," continued his daughter, who had been the firm’s chief executive officer since 2014.
He is survived by his wife Elizabeth B. Lillie, his daughters Abigail and Elizabeth, and his son Edward Johnson IV.
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