Steven A. Cohen
| Steven A. Cohen | |
|---|---|
| Born |
June 11, 1956 Great Neck, New York, U.S. |
| Residence | Greenwich, Connecticut, U.S. |
| Nationality | American |
| Alma mater | University of Pennsylvania |
| Occupation |
Founder, Point72 Asset Management Hedge fund manager |
| Salary | US$1.55 Billion (2015) |
| Net worth |
 US$13 Billion (Sep 2016) |
| Spouse(s) |
Patricia Finke (m. 1979; div. 1990) Alexandra Garcia (m. 1992) |
| Children | 7 |
Steven A. Cohen (born June 11, 1956) is an American hedge fund manager. He is the founder of Point72 Asset Management (a family office) and S.A.C. Capital Advisors (a hedge fund), both based in Stamford, Connecticut. He is also a noted art collector.
He had an estimated net worth of $13 billion as of Sep 2016, ranked by Forbes as the 72nd richest man in the world. Cohen is 30th overall in the U.S.
One of the most successful hedge fund managers ever, Steve Cohen shut down his SAC Capital hedge fund after it pleaded guilty to insider charges, but he continues to trade his own money. In July 2013, amid multiple charges against employees of S.A.C. Capital Advisors, the Securities and Exchange Commission (SEC) brought civil charges against Cohen himself, accusing him of failing to prevent insider trading. In November 2013, S.A.C. Capital pleaded guilty to insider trading violations, agreed to stop managing funds for outsiders, and paid a $1.8 billion fine. In January 2016, Cohen reached a settlement with the SEC on the civil charge, in which he is barred from managing money for outside investors until 2018.
Cohen grew up in a Jewish family in Great Neck, New York, where his father was a dress manufacturer in Manhattan's garment district, and his mother was a part-time piano teacher. He has 7 other brothers and sisters, in which he is the 3rd oldest. From oldest to youngest: Marty Cohen, Gary Cohen, Steven Cohen, Cindy Cohen, Donald Cohen, Stacey Cohen, Wendy Cohen, and Russell Cohen. He took a liking to poker as a high school student, often betting his own money in tournaments. Cohen credits the game with teaching him "how to take risks." Cohen received an economics degree from the Wharton School at the University of Pennsylvania in 1978. He was a brother of Zeta Beta Tau fraternity, Theta Chapter. While in school, a friend helped him open a brokerage account with $1,000 of his tuition money.
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