Our Haute 100 list details the accomplishments of the most influential people in each of our markets—Miami, New York, Los Angeles, and San Francisco. These people continue to make moves, so rather than waiting for the next Haute 100 issue to come out, we thought we’d provide you with regular updates on those Haute 100 members who are making headlines. Franklin Resources’ third-quarter profit rose 21 percent, which is good news for two of our Haute 100: Charles Johnson and his half-brother Rupert Johnson Jr.
Company: Franklin Resources
What Made Him Haute: Charles Johnson is the chairman of Franklin Resources, which he runs with his half-brother Rupert, who serves as the vice chairman. The 2009 Forbes list ranked the Yale grad at No. 261 of the world’s billionaires, with a net worth of $2.5 billion.
What Makes Him Haute Now: The 2010 Forbes list now ranks the Yale grad at No. 212 of the world’s billionaires, with a net worth of $4 billion. Son Gregory serves as current president and CEO, while Charles sits as the mutual fund company’s chairman. Charles and his brother Rupert own about 33 percent of money management firm Franklin Resources, which has more than $465 billion assets under management with offices in 29 countries and more than 100 investment products. The firm’s fiscal third-quarter net income jumped to $360.5 million, up from last year’s profit of $297.7 million in the third quarter, and revenue rose nearly nine percent. Franklin Resources Inc., which operates as Franklin Templeton Investments, beat Wall Street expectations as market gains, higher fee income and strong inflows of cash from investors boosted the firm’s profit.