Justin Baer's "House of Fidelity," discussed with SkyBridge Capital founder Anthony Scaramucci on the "Open Book" podcast posted Tuesday, says Abigail Johnson was removed from running Fidelity Investments' flagship mutual fund business and, months later, became involved in an effort to oust her father, Edward "Ned" Johnson III, that was stopped at the last minute. Baer said the episode had previously surfaced only in limited form, that Johnson threatened to leave the firm after the demotion, and that later reporting showed Ned Johnson had become open to selling Fidelity outright, changing Baer's understanding of the family conflict. Scaramucci also said Johnson's defining contribution was recognizing Fidelity could not rely indefinitely on its traditional mutual-fund business and pushing the privately held firm toward where finance was heading; Baer said it remains too early to know whether another Johnson will eventually take over and noted that a public listing would break with the family's long preference for private ownership. Founded by Edward C. Johnson II in 1946, Fidelity helped reshape retail investing through mutual funds and 401(k) plans and now oversees nearly $13 trillion across customer accounts and investment funds, with roughly one in six Americans holding an account there.