Steven A. Cohen Net Worth

Steven A. Cohen Net Worth

Real Name: Steven A. Cohen
Date of Birth: 06/11/1956
Place of Birth: Great Neck, New York

2017 Net Worth: $11.1 Billion
2016 Earnings: $600 Million

Profession: Hedge Fund Manager, Founder of SAC Capital, Owner Point 72 Management

Steven A. Cohen Biography


Steve Cohen was born in Great Neck, New York, in 1956. His father was a dress manufacturer, his mother a part time piano instructor. As a high school student, he discovered he had a talent for poker, and took risks, which usually paid off, using his own money. Cohen credits poker with teaching him how to take a calculated risk. He attended Wharton School of Business at the University of Pennsylvania, where he received a degree in Economics. Cohen took $1,000 of what was supposed to be his tuition money and opened a brokerage account.

Cohen worked on Wall Street right out of college as a junior trader with Gruntal & Company. His first day on the job he impressed his superiors by clearing an $8,000 profit. Soon he was making the company, on average, $100,000 dollars every trading day.

In 1992 Cohen decided to go into business for himself. Using $20 million of his own money, he started SAC Capital Partners. Today, his firm manages more than $14 billion in equity.

Cohen has a diverse portfolio with a four percent stake in the New York Mets baseball team and a lavish home in Connecticut with an estimated value of $14.8 million. Steve loves to spend his hard-earned wealth. He Paid $14.5 million for a 30 room, 14 acre estate in 1998 and more than $70 million in various pieces of collectable artwork. He recently bought a piece of oceanfront property on Long Island for $60 million. He also owns a duplex apartment in the Bloomberg Tower on the East Side of Manhattan that is valued at $115 million.

Cohen has had a few financial setbacks in his career. His infamous divorce from his first wife, along with legal problems due to alleged insider trading, set Cohen back at least $616 million. For someone with a net worth of $11.1 billion, this is a minor dent in his overall net worth.

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: