What is Steve Cohen Net Worth?

Steven Cohen, born on June 11, 1956, is a prominent American hedge-fund manager and the majority owner of the New York Mets baseball team. He is renowned for founding hedge fund Point72 Asset Management and S.A.C. Capital Advisors. Cohen’s career has been marked by significant achievements and controversies, including a record insider trading fine of $1.8 billion that his firm, S.A.C. Capital Advisors, had to pay in 2013.

Early Life and Education

Cohen grew up in Great Neck, New York, in a Jewish family. His father was a dress manufacturer, and his mother was a piano teacher. He developed an interest in poker during high school, which he credits for teaching him how to take risks. Cohen graduated from the University of Pennsylvania’s Wharton School in 1978 with a degree in economics.

After graduating, Cohen began his career on Wall Street as a junior trader at Gruntal & Co. His exceptional skills quickly propelled him to managing a significant portfolio and a team of traders. In 1992, he founded his own company, S.A.C. Capital Advisors, with $10 million of his own money.

Investment Career

At S.A.C. Capital Advisors, Cohen became known for his rapid and frequent trading strategies. By 2009, the firm managed $14 billion in equity. However, the company faced legal troubles, including allegations of insider trading that led to a $1.8 billion fine and restrictions on managing outside money for Cohen.

Wealth and Philanthropy

As of 2024, Forbes estimated Cohen’s fortune at $13 billion, ranking him among the wealthiest individuals in the United States. He has been a significant philanthropist, donating over $715 million to various causes, particularly those related to veterans and children’s health. Cohen serves on the board of trustees of the Robin Hood Foundation and has established the Cohen Veterans Network to provide mental health support to veterans and their families.

New York Mets Ownership

Cohen became a minority owner of the New York Mets in 2012 and acquired a controlling interest in the team in 2020. His involvement with the Mets has been notable, with his wife, Alexandra Garcia, also playing an active role in the team’s charitable endeavors.

Art Collection and Legacy

Besides his business ventures, Cohen is an avid art collector, with a collection estimated to be worth around $1 billion. He has acquired works by renowned artists such as Picasso, Monet, and Jeff Koons. Cohen’s legacy in the financial world led to his induction into the Institutional Investors Alpha’s Hedge Fund Manager Hall of Fame in 2008.

Overall, Steven Cohen’s career has been a mix of remarkable success in the financial industry, significant wealth accumulation, philanthropic contributions, and a passion for art collection.

FAQs about Steven Cohen’s Net Worth

1. What is Steven Cohen’s current net worth as of 2024?

As of 2024, Steven Cohen’s net worth is estimated to be around $13 billion, according to Forbes.

2. How did Steven Cohen make his fortune?

Steven Cohen made his fortune through his successful career as a hedge-fund manager, founding companies like S.A.C. Capital Advisors and Point72 Asset Management.

3. What are some notable aspects of Steven Cohen’s philanthropic efforts?

Steven Cohen has donated over $715 million to various philanthropic causes, focusing on veterans’ support, children’s health, and art and culture projects.

4. How is Steven Cohen involved with the New York Mets?

Steven Cohen became the majority owner of the New York Mets in 2020, taking an active role in the team’s operations and charitable initiatives.

5. What is Steven Cohen’s involvement in the art world?

Steven Cohen is an avid art collector with a collection worth approximately $1 billion, featuring works by renowned artists like Picasso, Monet, and Jeff Koons.