People

Steven Cohen

Steven Cohen

Formal First Name
Steven
Link
Dates
6/11/1956 - present
Location

Steve Cohen is the Chairman and Chief Executive Officer of Point72. He is also the Founder of the now-defunct SAC Capital Advisors, one of the most successful hedge funds ever. Cohen is a billionaire hedge fund manager and investor known for employing high-risk, high-reward trading strategies. He also holds a large portfolio of luxury real estate that spans from the Hamptons and to Connecticut to Los Angeles.

Asset Classes

Fine Art
Real Estate

Entity Types

Hedge Fund

Strategies

Macro

Mentioned by the Following

People

Dan Tapiero

Professional Experience


Academic History

  • Cohen began his investing career at Gruntal & Co, where he managed proprietary capital for 14 years.
  • Forbes ranked him as the eighth highest-earning hedge fund manager in the United States in 2018 but did not include him on the list in 2019.
  • He created Cohen Veterans Network and Cohen Veterans Bioscience in 2015 to improve the mental healthcare, treatment, and quality of life for veterans and their families.
  • He is an avid fine art collector and has been a Guarantor for Fine art Auctions.
  • He has given $715 million to philanthropic causes over his lifetime, including causes related to veterans and children's health.
  • In 2020, he bought the iconic New York Mets major league baseball team for $2.4 billion.
  • As of February 2021, he has an estimated net worth of $10.2 billion. 


SAC Capital

  • SAC Capital was founded with $25 million of Cohen’s own money.
  • His success with SAC was predicated on high-risk, high reward trades.
  • His portfolio rode the late-’90s dotcom bubble to 70% returns and earned another 70% when he shorted those same stocks when the tech-bubble burst in 2000.
  • He may not have made his fortune legally. His firm pled guilty to securities and wire fraud in 2013.
  • In 2010, the company became the subject of an insider trading investigation launched by the SEC.
  • While Cohen himself was never charged, the firm pled guilty to trafficking in nonpublic information and was forced to return investor capital and pay $1.8 billion in fines.
  • SAC was officially closed in 2016 when Cohen began serving a two-year ban on managing other investorsmoney. The ban expired in January 2018.