Charles Bartlett Johnson is an American investment company executive, philanthropist, and sports owner. He led Franklin Resources during its transformation from a small mutual-fund business into a major investment-management company, later becoming a principal owner of the San Francisco Giants. His $250 million gift to Yale University was the largest in the university's history when announced in 2013.
Background
Charles Bartlett Johnson was born on January 6, 1933, in Montclair, New Jersey, to Rupert Harris Johnson and Florence Endler Johnson. Montclair was an established suburban community in the New York metropolitan region, and Johnson attended Montclair High School before entering Yale College.
He grew up in a family connected with investment management. His father, Rupert H. Johnson Sr., founded Franklin Distributors in 1947, creating the business that later became Franklin Resources. Johnson's younger half-brother Rupert H. Johnson Jr. subsequently became his business partner, while several of his children later held roles in the family's business and civic activities.
Education
Johnson attended Montclair High School and graduated from Yale College in 1954 with a Bachelor of Arts degree. Yale College, the undergraduate division of Yale University, was founded in 1701 and formed part of one of the United States' oldest research universities; during Johnson's student years it combined a residential collegiate system with liberal-arts education.
His studies included economics and political science. He also played football for Yale and served as an Army ROTC cadet, combining undergraduate education with preparation for military service.
Johnson served as a lieutenant in the United States Army from 1955 to 1957. His military service followed his Yale graduation and preceded his entry into the family investment business.
In 1957, at the age of twenty-four, he became president and chief executive officer of Franklin Distributors, the mutual-fund company founded by his father. Franklin was then a small organization with approximately $2.5 million in assets under management. The company was named for Benjamin Franklin and initially emphasized conservatively managed mutual funds intended for individual investors.
When Franklin Resources was organized in 1969, Johnson continued as president and chief executive officer. Under his leadership the company went public in 1971, moved its principal operations from New York to San Mateo after acquiring Winfield & Company in 1973, and expanded through acquisitions including Templeton, Galbraith & Hansberger in 1992. These changes helped develop Franklin Resources into the global investment-management business later known as Franklin Templeton.
Johnson remained chief executive officer until 2003 and served as chairman of Franklin Resources until his retirement from the chairmanship in June 2013. His son Gregory E. Johnson succeeded him as chairman, continuing the family's leadership connection with the company.
Johnson became an investor in the San Francisco Giants ownership group in the early 1990s and became one of the club's principal owners. The Giants are a Major League Baseball franchise based in San Francisco, and the Johnson family has been part of the team's ownership group since 1993. In later years Johnson left day-to-day control responsibilities to other members of the ownership group, including his son Gregory and managing partner Larry Baer.
Achievements
Johnson led Franklin Resources through its public offering in 1971, the relocation of its principal operations to California in 1973, and major acquisitions that broadened the company's investment-management business, including the 1992 acquisition of Templeton, Galbraith & Hansberger.
Johnson committed $250 million to Yale University in 2013 to support the construction of two new residential colleges and the expansion of Yale College. The commitment was the largest gift in Yale's history at the time of its announcement.
Johnson became a principal owner of the San Francisco Giants and helped maintain the Johnson family's long-term participation in the club's ownership group.
Politics
Johnson has been a major donor to Republican candidates and political action committees, including support for Jeb Bush's 2016 presidential campaign. His political giving has generally reflected support for Republican candidates and organizations, although he stated that he had also contributed to some Democrats who shared his commitment to a free-market economic system.
His political activity places him within the modern American Republican tradition, which has included advocacy of private enterprise, limited government regulation, lower taxation, national defense, and market-oriented economic policies. His public political role has been expressed primarily through campaign contributions rather than elected office or party leadership.
Views
Johnson's public career has reflected a belief in long-term private investment, business growth, and the role of individual and institutional philanthropy. His support for mutual-fund investing, university expansion, cultural organizations, and professional institutions connected his economic outlook with a broad program of civic giving.
His political statements and contributions have emphasized free-market principles. His philanthropy has also supported educational opportunity, particularly through his $250 million commitment to Yale University for the construction of two new residential colleges.
Membership
Johnson served as a trustee or board member of several educational, cultural, civic, and professional organizations. His affiliations included Crystal Springs Uplands School, the Peninsula Community Foundation, the San Francisco Symphony, the Hoover Institution, the Commonwealth Club of California, and the Investment Company Institute.
His professional association work included service with the National Association of Securities Dealers and the National Association of Securities Directors. These organizations connected investment executives through industry standards, securities regulation, professional education, and governance. His civic memberships also linked his business career with educational institutions, cultural organizations, and Bay Area public life.
Trustee
Crystal Springs Uplands School
,
United States
1984 - 1992
Board member
Peninsula Community Foundation
,
United States
1986 - 1996
Board member
San Francisco Symphony
,
United States
1984
Member of the Board of Governors
Investment Company Institute
,
United States
1973 - 1988
Served on committees and boards; chairman in 1992
National Association of Securities Dealers
,
United States
1988 - 2002
Member of the Board of Overseers
Hoover Institution
,
United States
1993
Board member
Commonwealth Club of California
,
United States
1995 - 1997
Member
Pacific Union Club
,
United States
Member
Burlingame Country Club
,
United States
Northern California chairman
United States Olympic Committee
,
United States
1992
Interests
Philanthropy, university education, cultural institutions, and professional sports
Sport & Clubs
Baseball and football
Connections
Johnson married Ann Demarest Lutes on March 26, 1955. They have seven children: Charles E., Holly, Sarah, Gregory, William, Jennifer, and Mary, who is deceased.
His son Gregory E. Johnson became chairman and chief executive officer of Franklin Resources and later served as the San Francisco Giants' designated control person. His daughter Jennifer M. Johnson also held senior executive responsibilities at Franklin Resources. Johnson's parents were Rupert Harris Johnson and Florence Endler Johnson.
Father:
Rupert Harris Johnson
Founded Franklin Distributors in 1947.
Mother:
Florence Endler Johnson
child:
Mary Johnson
Deceased.
child:
William Johnson
child:
Charles E. Johnson
child:
Jennifer Johnson
Held senior executive responsibilities at Franklin Resources.
child:
Gregory Johnson
Became chairman and chief executive officer of Franklin Resources and the designated control person of the San Francisco Giants.
child:
Holly Johnson
child:
Sarah Johnson
Wife:
Ann Demarest Lutes
Married Johnson on March 26, 1955; she is a medical doctor.
Franklin Templeton: Our History
Documents the founding of Franklin in 1947, Johnson's appointment as president and chief executive officer in 1957, the 1971 public offering, the 1973 move to California, and the company's subsequent development.
George H. W. Bush Lifetime of Leadership Award,
United States
Yale recognized Johnson in 2007 with the George H. W. Bush Lifetime of Leadership Award for his leadership in business, professional organizations, civic institutions, and Yale athletics.
Yale recognized Johnson in 2007 with the George H. W. Bush Lifetime of Leadership Award for his leadership in business, professional organizations, civic institutions, and Yale athletics.
