# The Richest Family You've Never Heard Of

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Text version: https://stenobird.com/podcast/reasonably-happy-with-paul-ollinger-635912/the-richest-family-you-ve-never-heard-of.md
Podcast: [Reasonably Happy with Paul Ollinger](https://stenobird.com/podcast/reasonably-happy-with-paul-ollinger-635912)
Published: 2026-07-08T10:07:00+00:00
Episode link: https://words.paulollinger.com/p/the-richest-people-youve-never-heard
Audio file: https://api.substack.com/feed/podcast/205943396/01eb1da7afca53984639ee60798afe3c.mp3
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JSON: https://stenobird.com/v1/public/podcasts/reasonably-happy-with-paul-ollinger-635912/episodes/the-richest-family-you-ve-never-heard-of
Duration seconds: 3134

## Resource

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, NY: Sticks and Stones Comedy Club , 8/1 Get full access to Reasonably Happy at words.paulollinger.com/subscribe

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## Transcript

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