Boston, September 14, 2025
News Summary
The latest Forbes ranking reveals that nine residents from Massachusetts have made it to the 400 richest Americans list. The state’s representation spans various industries, including financial services, sports, and telecommunications. The overall collective wealth of the Forbes 400 reached a new high, driven by significant increases in the net worth of individuals like Abigail Johnson, who leads Massachusetts with $35 billion.
Boston — Forbes’ 2024 ranking of the 400 richest Americans includes nine residents of Massachusetts, with the state represented across a wide range of industries from financial services to sports and telecommunications.
Top-line findings
The combined net worth of the nation’s 400 wealthiest people reached a record $6.6 trillion, an increase of $1.2 trillion over the previous year. Elon Musk remained the richest American at $428 billion, up from $244 billion, while Mark Zuckerberg and Jeff Bezos also remained among the top four. Within Massachusetts, Abigail Johnson is the state’s wealthiest resident on the list, with a net worth of $35 billion, rising from $31 billion the prior year and moving up from 30th to 27th overall.
Key details about Massachusetts residents on the list
Abigail Johnson leads Massachusetts’ representation. She became CEO of Fidelity Investments in 2014 and chair in 2016, following the firm’s founding by her grandfather in 1946. Johnson owns an estimated 29% stake in Fidelity, which manages $5.9 trillion in assets. Her position on the Forbes list improved both in rank and in estimated wealth.
Edward Johnson IV, Abigail’s brother, is the second-richest person from Massachusetts on the list. He ranked 76th overall with a net worth of $14.2 billion, up from $12.6 billion the previous year, though his overall rank slipped from 70th. Edward Johnson IV serves as president of Pembroke Real Estate and holds a 9.56% stake in Fidelity’s parent company.
Robert Kraft, owner of the New England Patriots, ranked 78th with an estimated net worth of $13.8 billion. Kraft purchased the Patriots in 1994 for $172 million; the team’s current valuation is reported at $9 billion, reflecting the substantial appreciation of sports franchise valuations over time.
Elizabeth Johnson, sister to Abigail and Edward, appears at 99th with a net worth of $12.3 billion. Other Massachusetts residents on the 2024 list include Robert Hale Jr., Jim Davis and family, Terry Ragon, Alan Trefler, and Amos Hostetter Jr., with net worths ranging from about $5.2 billion to $4.2 billion.
Additional Massachusetts profiles
Robert Hale Jr. is listed at 246th with a net worth of $5.2 billion, credited as the founder and CEO of Granite Telecommunications. The Davis family, associated with New Balance, dropped to sixth in the state rankings with an estimated net worth of $5.2 billion. Terry Ragon and Alan Trefler are tied at 352nd with net worths of $4.2 billion each; Ragon founded InterSystems and Trefler founded Pegasystems.
Amos Hostetter Jr. is listed at 382nd, with wealth accumulated in the cable industry through investments including Continental Cablevision. Hostetter has also been an active philanthropist, having donated more than $1.7 billion through the Barr Foundation to support education, the arts, and climate-related efforts.
Context and significance
The Forbes list underscores concentration of wealth at the national level, as well as how long-standing family ownership and leadership of large private firms can produce sustained wealth across generations. In Massachusetts, the list highlights the prominence of financial services, real estate, technology and media, and sports ownership as drivers of high personal net worth among residents.
Methodological note
The rankings reflect Forbes’ annual estimates of individual net worth based on publicly available data and known private holdings. Changes in rank and estimated wealth can result from market movements, changes in reported holdings, business valuations, philanthropic activity, and adjustments to private-company valuations.
What this means locally
Massachusetts’ nine representatives on the list span both public visibility and private control of major companies. Their presence on the list signals both the state’s economic concentration in financial and technology sectors and the role of multi-generational ownership in preserving family fortunes.
Frequently Asked Questions
Which Massachusetts resident is the richest on Forbes’ 2024 list?
Abigail Johnson is the wealthiest Massachusetts resident on the list, with an estimated net worth of $35 billion and a 29% ownership stake in Fidelity, which manages $5.9 trillion in assets.
How many people from Massachusetts are on the Forbes 400 list?
Nine residents from Massachusetts are included among the 400 richest Americans in the 2024 Forbes rankings.
How did the overall wealth of the Forbes 400 change in 2024?
The combined net worth of the Forbes 400 reached $6.6 trillion in 2024, an increase of $1.2 trillion compared with the previous year.
Who are other notable Massachusetts billionaires on the list?
Notable names include Edward Johnson IV, Robert Kraft, Elizabeth Johnson, Robert Hale Jr., the Davis family (New Balance), Terry Ragon, Alan Trefler, and Amos Hostetter Jr., with ranks and net worths that vary across the list.
Have any Massachusetts billionaires changed rank significantly?
Some movements occurred: Abigail Johnson rose from 30th to 27th, while Edward Johnson IV’s net worth increased but his rank dropped from 70th to 76th. Other individuals experienced smaller rank changes or remained similar to prior positions.
Quick reference: Massachusetts representatives on Forbes’ 2024 list
| Rank (Overall) | Name | Estimated Net Worth | Primary Source of Wealth |
|---|---|---|---|
| 27 | Abigail Johnson | $35 billion | Fidelity Investments (financial services; ~29% stake) |
| 76 | Edward Johnson IV | $14.2 billion | Pembroke Real Estate; stake in Fidelity (9.56%) |
| 78 | Robert Kraft | $13.8 billion | Sports franchise ownership (New England Patriots) |
| 99 | Elizabeth Johnson | $12.3 billion | Family interests related to Fidelity |
| 246 | Robert Hale Jr. | $5.2 billion | Granite Telecommunications |
| — | Jim Davis & family | $5.2 billion | New Balance (apparel & footwear) |
| 352 | Terry Ragon | $4.2 billion | InterSystems (software) |
| 352 | Alan Trefler | $4.2 billion | Pegasystems (software) |
| 382 | Amos Hostetter Jr. | — | Cable industry; investments (Continental Cablevision); philanthropy (Barr Foundation) |
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Additional Resources
- Boston.com
- CBS News
- Boston 25 News
- U.S. News
- Time Out Boston
- Wikipedia: Forbes
- Google Search: wealthiest Americans
- Google Scholar: wealth inequality USA
- Encyclopedia Britannica: wealth
- Google News: MASSACHUSETTS BILLIONAIRES
Author: STAFF HERE BOSTON WRITER
BOSTON STAFF WRITER The BOSTON STAFF WRITER represents the experienced team at HEREBoston.com, your go-to source for actionable local news and information in Boston, Suffolk County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Boston Marathon, Head of the Charles Regatta, and Boston Harborfest. Our coverage extends to key organizations like the Greater Boston Chamber of Commerce and Associated Industries of Massachusetts, plus leading businesses in finance, biotech, and insurance that power the local economy such as Fidelity Investments, Biogen, and Liberty Mutual Insurance. As part of the broader HERE network, we provide comprehensive, credible insights into Massachusetts's dynamic landscape.
