Steven Cohen Net Worth
Steven A. Cohen Net Worth: Steven A. Cohen is an American hedge fund manager who has a net worth of $12 billion dollars. Born June 11, 1956 in Great Neck, New York, Steve Cohen is the founder of SAC Capital Advisors, a Stamford, Connecticut-based hedge fund which mainly focuses on equity market strategies. Cohen is known on Wall Street as one of its most successful traders. He began his Stamford-headquartered hedge fund in 1992 with only $25 million. Today the fund has $14 billion assets under management and employees around 900 people globally. During the late '90s and early 2000s, Cohen came into prominence as a powerful Wall Street trader, known for his grand slam returns. He has since become well known for other reasons: He was fingered in several media reports as "Portfolio Manager A" in an insider-trading case against former CR Intrinsic (a subsidiary of SAC) portfolio manager, Mathew Martoma. It's widely known that Cohen has been the ultimate target of the Securities and Exchange Commission and the Department of Justice. While he has been implicated in the latest insider trading case, as of December 2012, he had not been charged with any wrongdoing. During a conference call in late 2012, where SAC management disclosed that it had received a Wells Notice from the SEC, Cohen told investors he was confident he acted appropriately and that he takes these matters very seriously. Since Cohen rarely gives interview, his public tends to know little about him, other than what is made public through the trading world. Cohen grew up in Great Neck, Long Island in a family where he had many siblings, the third of eight children. His father worked at a dress manufacturer and his mother was a homemaker who also taught piano lessons.
Net Worth details: Steve Cohen made most of his money from his holdings in hedge funds from Point72 Asset Management, which managed about $11 billion in 2017. Cohen is a 95 percent owner of the company and owns an art collection worth about $1 billion. He owns a 14-acre estate located in Greenwich, Connecticut and donates over $35 million annually. In 2012 Cohen purchased a 4 percent stake in the New York Mets. His firm SAC Capital Advisors pled guilty to securities and wire fraud in 2013 and paid out $1.8 billion.