Bloomberg Billionaires Index

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#458 Woody Johnson $4.20B

Random fact: Prior Jets owner, Leon Hess, ordered team sold to pay estate taxes.

Overview

Johnson is an heir to the Johnson & Johnson consumer products fortune and owner of the National Football League's New York Jets. He owned cable provider American Video Corp. in the 1970s and purchased the Jets for $635 million in 2000, and also managed private and charitable trusts out of his New York family office The Johnson Company.

As of July 26, 2017:
Last change -$1.77M (-0.0%)
YTD change -$3.94M (-0.1%)
Industry Diversified
Biggest asset New York Jets
Citizenship United States
Age 70
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Woody Johnson's net worth of $4.20B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Johnson's fortune originated with inherited shares of Johnson & Johnson, the New Jersey consumer products company that was co-founded by his great-grandfather. 

He owns shares in J&J as well as the New York Jets football team, which he purchased from the estate of Leon Hess in 2000 for $635 million. The Jets are valued at $2.7 billion, based on a July 2017 valuation opinion of Peter J. Schwartz, a consultant with the Anderson Economic Group in New York. 

His other assets are controlled through The Johnson Company Inc., a closely held family office, and were reported in a March 2017 financial disclosure to the federal Office of Government Ethics as part of his nomination to be the U.S. ambassador to the U.K. The form lists more than 1,100 assets and liabilities each with an indicated value range. His stake in Johnson & Johnson is determined by dividing reported dividend income of "over $5 million" by the prior 12 months of dividend payments by the company. The calculation indicates he has at least 1.56 million J&J shares.

The value of his other investments are determined by taking midpoint of each asset's range as listed in the disclosure, which total more than $1.5 billion in assets and $233 million in liabilities.

The billionaire didn't respond to requests in 2016 and 2017 for comment through his assistant, Laura Gersh, of The Johnson Company.

Biography

Birthdate: 4/12/1947
Family: Married, 3 children
Education: 1972, University of Arizona, Bachelor's Degree

Robert Wood "Woody" Johnson IV is a fourth generation heir of the Johnson & Johnson family fortune, according to a news release from the New York Jets dated June 22, 2017, and his great-grandfather was one of the founders of the consumer products company. 

Johnson worked just one summer at the company, preferring to strike out on his own in business. Among his early successes was the building and sale of a cable company in Florida in the 1970s, according to a New York Times profile of Jan. 12, 2000.

Through his New York family office, The Johnson Company, the billionaire has managed his own investments as well as an undisclosed amount of other family members assets and charitable assets.

Johnson purchased the New York Jets football team in January 2000, paying $635 million to the estate of oil baron Leon Hess for the franchise, according to the New York Times.

He was nominated to the U.S. ambassador to the U.K. in June 2017 by President Donald Trump, who he supported in his campaign for the White House.

Johnson is married and lives in Manhattan and New Jersey. He has three children, one of whom died in 2010.

Milestones
  • 1947 Robert Wood Johnson IV is born.
  • 1994 Writes book, "Managing Your Child's Diabetes," with wife and daughter Casey.
  • 2000 Purchases New York Jets for $635 million.
  • 2005 Pushes to build Jets stadium in Manhattan. Bid eventually fails.
  • 2010 One of his daughters, Casey, dies in Los Angeles.
  • 2010 Jets make conference finals for second year in a row.
  • 2017 Nominated to be U.S. ambassador the U.K.