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What is Steve Cohen’s Net Worth?
Steven A. Cohen, a prominent American hedge fund manager and owner of the New York Mets, has an estimated net worth of $19.8 billion. This substantial wealth is primarily derived from his successful management of hedge funds, notably Point72 Asset Management and the now-defunct S.A.C. Capital Advisors.
After graduating from the Wharton School at the University of Pennsylvania with a degree in economics in 1978, Cohen started as a junior options trader at Gruntal & Co. His exceptional trading skills quickly became evident, generating significant profits for the firm and laying the foundation for his future success.
In 1992, Cohen founded S.A.C. Capital Advisors with an initial investment of $25 million, which grew to become one of the most successful hedge funds, known for its aggressive, high-volume trading strategies.
Despite facing legal challenges, including a high-profile insider trading investigation that led to the closure of S.A.C. Capital Advisors in 2016, Cohen’s financial acumen remained undeterred. He was banned from managing outside money for two years but made a strong comeback by establishing Point72 Asset Management in 2018. This firm has since grown to manage nearly $34 billion in assets as of 2024.
Cohen’s net worth has also been bolstered by his investments in various sectors, including his acquisition of a controlling interest in the New York Mets for $2.4 billion in 2020. In addition, his extensive art collection, valued at around $1 billion, includes works by renowned artists such as Picasso, Pollock, and Koons, further contributing to his wealth.
Here’s the breakdown of Steve Cohen’s net worth:
Name: | Steve Cohen |
Net Worth: | $19.8 Billion |
Date of Birth: | June 11, 1956 |
Profession: | Entrepreneur, Businessperson, Investor, Trader |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Steven A. Cohen was born on June 11, 1956, in Great Neck, New York, into a Jewish family. His father worked as a dress manufacturer in Manhattan’s garment district, while his mother was a piano teacher. Cohen was the third of eight children.
From an early age, he showed a keen interest in risk-taking and strategy, which he honed through playing poker during his high school years. This interest in risk and strategy would later become a cornerstone of his career in finance.
Cohen graduated from John L. Miller Great Neck North High School in 1974 and went on to study economics at the Wharton School of the University of Pennsylvania, where he graduated in 1978.
During his time at Wharton, Cohen was a member of the Zeta Beta Tau fraternity and began trading stocks, laying the groundwork for his future in hedge fund management.
SAC Capital
In 1992, Steven Cohen founded S.A.C. Capital Advisors with $25 million, including $10 million of his own money. The firm quickly gained a reputation for its aggressive trading strategies and high returns.
By the early 2000s, S.A.C. Capital had become one of the most prominent hedge funds on Wall Street, managing billions of dollars in assets.
However, the firm faced significant legal challenges, culminating in a 2013 guilty plea to insider trading charges. S.A.C. Capital agreed to pay $1.8 billion in fines and forfeitures, one of the largest penalties ever imposed on a hedge fund.
As part of the settlement, Cohen was barred from managing outside money for two years, leading to the closure of S.A.C. Capital to outside investors.
Point72
Following the legal troubles of S.A.C. Capital, Steven Cohen rebranded his investment operations as Point72 Asset Management in 2014.
Initially operating as a family office, Point72 began accepting outside capital in 2018 after Cohen’s ban on managing external funds was lifted.
Point72 has since grown to manage nearly $34 billion in assets as of 2024, employing a multi-strategy approach that includes public equity, venture capital, and private equity investments.
The firm is headquartered in Stamford, Connecticut, and has offices around the world.
Art Collection
Steven Cohen is also renowned for his extensive and valuable art collection, which is estimated to be worth around $1 billion. His collection includes works by some of the most famous artists in history, such as Pablo Picasso, Jackson Pollock, and Jeff Koons.
Cohen’s passion for art is not just a personal interest but also a significant investment strategy. He has been known to make high-profile purchases, including a $137.5 million acquisition of Willem de Kooning’s “Woman III” and a $110 million purchase of a Giacometti sculpture. Cohen’s art collection is considered one of the most impressive private collections in the world, reflecting his taste and investment prowess.
Real Estate
Steven Cohen’s real estate portfolio is as impressive as his art collection. He owns multiple properties across the United States, including a 35,000-square-foot mansion in Greenwich, Connecticut, which he purchased for $14.8 million in 1998.
In addition to his primary residence, Cohen owns luxury apartments in New York City, including a penthouse in the Bloomberg Tower, which he bought for $115 million. His real estate investments extend to the Hamptons, where he owns a sprawling estate. These properties not only serve as personal residences but also represent significant investments in some of the most desirable real estate markets in the country.
New York Mets
In 2020, Steven Cohen made headlines with his acquisition of a controlling interest in the New York Mets, purchasing the Major League Baseball team for $2.4 billion. Cohen’s ownership of the Mets has been marked by significant investments in the team’s infrastructure and player roster, aiming to restore the franchise to its former glory.
As a lifelong Mets fan, Cohen’s purchase was both a personal and professional milestone. His involvement in the team has brought renewed optimism to Mets fans, with expectations of increased competitiveness and success on the field. Cohen’s deep pockets and commitment to excellence have positioned the Mets for a promising future under his stewardship.
Philanthropy
Steven A. Cohen, alongside his wife Alexandra, has made significant contributions to various philanthropic causes through the Steven & Alexandra Cohen Foundation, established in 2001.
The foundation focuses on several key areas, including underserved communities, children’s health and education, the arts, sustainability, and Lyme disease research. Over the years, the Cohens have donated more than $1.2 billion to these causes, reflecting their commitment to making a positive impact on society.
One of the foundation’s notable initiatives is the Cohen Veterans Network, launched in 2016 with a $275 million commitment to provide mental health services to veterans and their families.
The network aims to establish mental health centers across the United States, addressing issues such as post-traumatic stress disorder and other mental health conditions. Additionally, the foundation has made substantial contributions to educational institutions, including a record $116.2 million donation to LaGuardia Community College in Queens, New York, to establish a vocational training center.
The Cohens’ philanthropic efforts also extend to the arts, with significant donations to institutions like the Museum of Modern Art and the Whitney Museum.
Personal Life
Cohen is married to Alexandra Garcia, and together they have seven children. The couple resides in a 35,000-square-foot mansion in Greenwich, Connecticut, which they purchased in 1998 for $14.8 million. The estate features luxurious amenities, including a basketball court, an indoor pool, and an ice skating rink.
Despite his immense wealth and success, Cohen is known for his relatively private lifestyle, rarely giving interviews and maintaining a low public profile. His personal interests include art collecting, with a collection valued at around $1 billion, featuring works by renowned artists such as Picasso, Pollock, and Koons.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
