johnson attended prep school at milton academy before transferring to tabor academy and graduating with a bachelor's degree from harvard college in 1954. after a stint in the us army, he became a research analyst at fidelity investments in 1957, a company founded by his father edward c. johnson ii in 1949. he later became the portfolio manager for the fidelity trend fund in 1960 and ran the famous fidelity magellan fund from 1963 to 1977. he then became president of the company in 1972 and chairman and ceo in 1977.