What is Rupert Johnson, Jr.'s Net Worth?
Rupert Johnson, Jr. is an American businessman and philanthropist who has a net worth of $4 billion. Rupert Johnson is best known as the vice chairman of Franklin Resources, an American investment holding company. His brother Charles serves as chairman and Charles' son Gregory serves as CEO. The business has stayed in the family since his father, Rupert H. Johnson, Sr., founded mutual fund shop Franklin Distributors in 1947. Rupert, Sr. ran a successful retail brokerage firm from an office on Wall Street in New York City.
He named the company for United States founding father Benjamin Franklin because Franklin epitomized the ideas of frugality and prudence when it came to saving and investing. The company's first line of mutual funds, Franklin Custodian Funds, was a series of conservatively managed equity and bond funds designed to appeal to most investors. Rupert Johnson, Jr. is also on the Board of Trustees of Santa Clara University and was formerly on the Board of Trustees of Washington and Lee University (1993-2002). He donated $100 million to both Washington and Lee in June 2007, establishing a merit-based financial aid and curriculum enrichment program. He has also donated money to the Asian Art Museum of San Francisco and the Delaware Art Museum. He sits on the President's council of the United Religions Initiative as well.
