Net Worth
Steve Cohen Net Worth
What is Steve Cohen’s net worth?
| Net Worth: | $14 Billion |
|---|---|
| Age: | 64 |
| Born: | June 11, 1956 |
| Country of Origin: | United States of America |
| Source of Wealth: | Entrepreneur |
| Last Updated: | 2021 |
Introduction
Steve Cohen is an American politician serving as the U.S. Representative from Tennessee’s 9th congressional district, since 2007.
He is a member of the Democratic Party. The district includes the western three-fourths of Memphis.
As of June 2022, Steve Cohen’s net worth is approximately $12 billion.
Early Life
Stephen Ira Cohen was born on the 24th of May, 1949, in Memphis, Tennessee.
Cohen is the son of Genevieve and pediatrician Morris David Cohen.
He has two older brothers, Michael Corey and Martin D. Cohen. He is a fourth-generation Memphian and is a grandson of Jewish immigrants from Lithuania and Poland.
Career
Cohen was elected to the Tennessee Senate in 1982, representing District 30, which includes parts of Memphis. He held that position for 24 years.
For 18 years, Cohen strove to repeal the ban on lotteries in the Tennessee State Constitution. His efforts were successful in 2002, and a state lottery program designed to provide college scholarships for Tennessee students was adopted the following year.
The lottery program is regarded as the most well-known accomplishment of Cohen’s Senate career, having raised over $2 billion for scholarships, afterschool programs, pre-K, technical center grants, and energy-saving capital programs in K-12 schools as of 2012.
He also sponsored legislation relating to the expansion of community access to healthcare, the protection of animal rights, the reinstatement of voting rights, graduated driver licenses, and funding for the arts during his career.
In March 2005, Cohen was one of three members of the Tennessee Senate to vote against the Tennessee Marriage Protection Amendment, which Tennessee voters approved via a referendum in November 2006.
As of June 2022, Steve Cohen’s net worth is $12 billion.
Highlights
Here are some of the best highlights of Steve Cohen’s career:
- Cohen was elected to the Tennessee Senate (1982)
- He is a member of the Democratic Party
- Tennessee State Constitution
Favorite Quotes From Steve Cohen
“It’s hard to find ideas that aren’t picked over and harder to get real returns and differentiate yourself. We are entering a new environment. The days of big returns are gone.” – Steve Cohen
“As the tall dark and handsome male star, Carey Grant always stands for male beauty and desirability, whether in a 30s screwball, a 40s film noir, or a 50s romantic comedy. He consequently turns around the orthodox gender between the one who looks and so desires, and the one who is looked at, and so is being desired.” – Steve Cohen
“I always tell my traders that they would’ve loved the 1990s because it was a fairly easy time to make money.” – Steve Cohen
3 Powerful Lessons From Steve Cohen
Now that you know all about Steve Cohen’s net worth, and how he achieved success; let’s take a look at some of the strongest lessons we can learn from him:
1. Risk management and Discipline
It is important to notice that risk management is not avoiding risks. On the contrary, it is taking a well-calculated risk with justified risk/reward ratios, and Cohen even once said that he is looking for stock traders who are not afraid to take risks. He wants guys who have the confidence to be out there; to be risk-takers.
2. Patience
Cohen says that whether the stock is cheap or expensive is irrelevant; there must be a catalyst that will make it move. When pitching a contrarian bet on stock to Cohen, his minions must explain what other big investors think of it, and why that’s not correct. Regarding intuition, he once told that probably at least 50 percent of he does is a gut feel.
3. Just Be Yourself
Another important lesson provided by Cohen is that it is critical that your stock trading style matches your personality. There is no single right way to trade the markets. Know who you are.
Summary
Steve Cohen is an American hedge fund manager who 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 employs around 900 people globally.
As of June 2022, Steve Cohen’s net worth is roughly $12 billion.
