Steve Cohen's net worth is estimated at $13.1 billion.
Overview
Steve Cohen's net worth stats
| Net worth: | $13.1 billion |
|---|---|
| Source of wealth: | Investor |
| Date of birth: | June 11, 1956 |
| Place of birth: | Great Neck, New York |
How did Steve Cohen build his net worth?
Steve Cohen made his fortune as an investor and hedge fund manager at his hedge fund, SAC Capital Advisors.
Born in 1956 in Great Neck, New York, Cohen attended the University of Pennsylvania, where he earned a degree in economics. After graduation, he worked at several investment firms before founding his own hedge fund, SAC Capital Advisors, in 1992.
Under Cohen's leadership, SAC Capital Advisors became one of the most successful hedge funds in the world, with assets under management of over $14 billion.
However, the firm was involved in a major insider trading scandal, which led to the closure of the firm in 2014. Cohen was not charged with wrongdoing, but the scandal damaged his reputation.
After the closure of SAC Capital Advisors, Cohen founded Point72 Asset Management, a family office that manages his wealth and investing in a variety of assets.
How has Steve Cohen spent his wealth?
Steve Cohen is known for his love of luxury, including his impressive art collection valued at over $1 billion. He owns multiple properties in New York City and the Hamptons, including a $60 million penthouse in Manhattan.
His philanthropic efforts are managed through the Steven and Alexandra Cohen Foundation, which supports education, healthcare, and the arts. In 2016, the foundation pledged $275 million to create a nationwide network of clinics for military veterans and their families.
FAQs
What is SAC Capital Advisors?
SAC Capital Advisors was a hedge fund founded by Steve Cohen in 1992, which was embroiled in an insider trading controversy, for which it was subsequently fined.
What is Point72 Asset Management?
Point72 Asset Management is a family office founded by Steve Cohen after the closure of SAC Capital Advisors.
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