Who is Johnson and Johnson owned by?

  • April 10, 2005

JOHNSON & JOHNSON calls itself a family of companies. Business aside, Johnson & Johnson's colorful founding family has made a lasting mark on New Jersey.

Founded in 1886 by three brothers -- Robert Wood Johnson, James Wood Johnson and Edward Mead Johnson -- the company remained fully under family control until 1944, when it began to sell shares to the public.

Family members continued to rule the executive suite until 1963, when Robert Wood Johnson Jr., the son of the founder, retired as chief executive at age 70.

Quirky and outspoken, Robert Wood Johnson Jr. detested bureaucracy. He became known as General Johnson after serving during World War II as chairman of the Smaller War Plants Corporation, an agency created to help small businesses as larger ones captured huge government contracts.

After a year of being a champion for small companies -- something that irritated his colleagues in big business -- the general returned to Johnson & Johnson with the complaint that "Washington is a magnet for mediocrity."

When he died in 1968, Robert Wood Johnson Jr. left $1.2 billion to the Robert Wood Johnson Foundation -- New Jersey's largest charity and the fifth largest in the United States -- whose mission is to improve health care in America.

The general's son, Robert Wood Johnson III, known as Bobby, worked in marketing and was president of the company for four years before resigning because of friction with his father. The two reconciled before the general died, and Bobby Johnson died two years after his father.

But it was Bobby's uncle, J. Seward Johnson Sr., who made headlines when at the age of 76 he married a farmer's daughter -- his 34-year-old Polish chambermaid, Barbara Piasecka -- setting the stage for an ugly feud over his estate after his death in 1983.

At stake: $402,824,971.59, according to David Margolick, who chronicled the battle for the family fortune in the book "Undue Influence: The Epic Battle for the Johnson & Johnson Fortune" (William Morrow & Company, 1993). Although he had set up a trust for his two sons and four daughters, who claimed that their father's young wife had brainwashed him, Mrs. Johnson -- his principal heir-- -- was determined not to give his offspring a penny more than the will stipulated.

The three-year mud-wrestling match -- culminating in a 17-week trial in New York -- ended in an out-of-court settlement in which Mrs. Johnson agreed to pay $160 million to Mr. Johnson's children.

During their marriage, the Johnsons built Jasna Polana, a 46,000-square-foot neo-Classical villa on 140 acres in far western Princeton. After Mr. Johnson's death, Mrs. Johnson moved to Monaco. The mansion -- built at a cost of about $25 million and furnished with antique furniture and artwork from the Johnsons' collection -- is now a private golf club.

But the Johnson family would endure even more.

In 2003, Jamie Johnson -- the son of James Loring Johnson, grandson of J. Seward Johnson Jr. and great-grandson of J. Seward Johnson Sr. -- came out with a provocative film called "Born Rich" that was shown at the Hamptons Film Festival and broadcast on HBO.

Mr. Johnson, who was 23 at the time, said in his tell-all documentary that he had poor male role models: his father was shown as a reclusive artist, and his grandfather as a man who had been consumed by estate battles and bitter divorces.

The daughter of J. Seward Johnson Sr., Mary Lea Richards, and her husband, Marty Richards, produced more-mainstream entertainment, including the shows "Sweeney Todd" and "La Cage Aux Folles" and the films "The Boys from Brazil" and "The Shining," before her death in 1990.

And as many fans of the New York Jets are aware, the National Football League team is owned by Robert Wood Johnson IV -- also known as Woody -- the grandson of General Johnson.

Anyone who owns Johnson & Johnson stock (NYSE:JNJ) is along for the ride. The multinational corporation is rolling out a single-shot COVID-19 vaccine developed by its subsidiary Janssen Pharmaceuticals.

The FDA gave the Johnson & Johnson vaccine emergency use authorization on Feb. 27, after previously giving the green light to the Pfizer-BioNTech and Moderna vaccines.

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“We believe the Johnson & Johnson single-shot COVID-19 vaccine is a critical tool for fighting this global pandemic, particularly as it shows protection across countries with different variants. A vaccine that protects against COVID-19, especially against the most dire outcomes of hospitalization and death, will help ease the burden on people and the strain on health systems worldwide,” Johnson & Johnson Chief Scientific Officer Paul Stoffels, M.D., said in a press release.

Johnson & Johnson has gone from a family business to a “family of companies.”

Although Johnson & Johnson is having a momentous 2021, the company has been in business for well over a century. Brothers Robert Wood Johnson, James Wood Johnson, and Edward Mead Johnson founded the company in 1886 to manufacture first aid and surgical supplies. Less than a decade later, Johnson & Johnson had 400 employees, according to the company’s timeline.

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Who is Johnson and Johnson owned by?

Source: Getty Images

Currently, Johnson & Johnson has more than 130,000 employees across a “Family of Companies” around the world, as the company explains on its website. The companies under the Johnson & Johnson banner focus on consumer health products, medical devices, and pharmaceutical products.

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Top Johnson & Johnson shareholders include its CEO and EVPs.

Getting back to the people who own Johnson & Johnson stock, Investopedia listed the top five individual shareholders in JNJ stock in October 2020. Those five people are CEO Alex Gorsky, Executive Vice President Joaquin Duato, the aforementioned Stoffles, EVP Jennifer Taubert, and EVP Joseph J. Wolk.

The top institutional holders include The Vanguard Group, BlackRock, State Street Corporation, Geode Capital Management, and Wellington Management Company, according to Yahoo! Finance.

Johnson & Johnson plans to make 100 million vaccines for the U.S. in the first half of 2021.

In its press release, Johnson & Johnson said that it plans to deliver 100 million of its single-shot vaccines to the U.S. during the first six months of 2021. “We are thankful for the efforts of all those who have volunteered to participate in our clinical trials, our scientists, collaborators, clinical trial sites and investigators,” said Mathai Mammen, M.D., Ph.D., Global Head of Janssen Research & Development for Johnson & Johnson. “Through the combined commitment of everyone involved, we have been able to discover, develop and manufacture a single-shot COVID-19 vaccine to protect people around the world,” 

According to Fox Business, Johnson & Johnson is scheduled to produce 1 billion doses of its COVID-19 vaccine for global distribution by the end of the year. The vaccine is expected to generate up to $10 billion for the company. Johnson & Johnson has agreed to produce up to 300 million vaccines for the U.S. and up to 400 million for the European Union.

What family owns Johnson and Johnson?

Robert Wood Johnson founded health products giant Johnson & Johnson in 1886, providing the world with dental floss and first-aid kits. His son, Robert Wood Johnson II, was nicknamed "The General" and took over the family business in 1932, in the process turning it into a global brand.

Who owns most of Johnson and Johnson?

Who owns Johnson & Johnson?.

Is Johnson and Johnson US owned?

Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods.

Did Johnson and Johnson split into two companies?

J&J announced in November that it is planning to split into two publicly traded companies: one focusing on consumer health, and the other housing its prescription-drug and medical-device businesses.