What is Steven Cohen’s net worth?
| Net Worth: | $16 Billion |
|---|---|
| Age: | 66 |
| Born: | June 11, 1956 |
| Gender: | Male |
| Height: | 1.75 m (5 ft 9 in) |
| Country of Origin: | United States of America |
| Source of Wealth: | Entrepreneur |
| Last Updated: | March 8, 2023 |
Introduction
Steven Cohen is an American politician. Cohen is serving as the U.S. Representative from Tennessee’s 9th congressional district since 2007. Cohen is a member of the Democratic Party.
The district includes the western three-fourths of Memphis. Cohen is Tennessee’s first Jewish congressman.
As of March 2023, Steven Cohen’s net worth is estimated to be roughly $16 Billion.
Early Life
Steven 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, and he is a fourth-generation Memphian and a grandson of Jewish immigrants from Lithuania and Poland.
Cohen contracted polio when he was 5 years old, and the disease caused him to shift his attention from sports to politics at an early age.
When he was 11 years old, John F. Kennedy made a campaign stop in Memphis, and Cohen took a picture of Kennedy sitting on a convertible.
Career
In 2013, SAC pleaded guilty to insider trading and agreed to pay a $1.8 billion fine. He was personally implicated in the scandal, allegedly being as “Portfolio Manager A” in an insider-trading case against former CR Intrinsic.
During a conference call in 2012, SAC management disclosed that it had received a Wells Notice from the SEC. On the same call, he told investors he was confident he acted appropriately and that he takes these matters very seriously.
Cohen rarely gives interviews, and his public knows little about him. Other than what is made public through the trading world. His art collection is worth around $1 billion.
He also owns a 14-acre estate located in Greenwich, Connecticut. In 2012 Cohen purchased a 4 percent stake in the New York Mets.
In 2020, Cohen spent $2.35 billion to increase his stake in the team up to 95%. Cohen inherited a team that has regularly lost money. The Mets typically lose about $90 million in a normal season. The same year, the Mets lost $200 million because of the corona pandemic.
As of March 2023, Steven Cohen’s net worth is estimated to be roughly $16 Billion.
How Does Steven Cohen Spend His Money?
Steven Cohen spends his money on real estate and his art collection.
Steven Cohen’s Home
Cohen owns a beautiful mansion in Greenwich, Connecticut.
Steven Cohen’s Art Collection
Cohen has a massive art collection that is estimated to be worth over $1 billion.
Highlights
Here are some of the best highlights of Steven Cohen’s career:
- Majority owner of the New York Mets
- Cohen-founded S.A.C. Capital Advisors (2013)
- Point72 Ventures (2014)
Favorite Quotes from Steven 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.” – Steven 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.” – Steven Cohen
“They taught you that 40 percent of a stock’s price movement was due to the market, 30 percent to the sector, and only 30 percent to the stock itself, which is something that I believe is true. I don’t know if the percentages are exactly correct.” – Steven Cohen
“You better be able to do that. This is not a perfect game. I compile statistics on my traders. My best trader makes money only 63 percent or the time. Most traders make money only in the 50 to 55 percent range. That means you’re going to be wrong a lot. If that’s the case.” – Steven Cohen
“XVZ had a subsidiary, which had an Internet Web site for financial commentary. They decided to take this subsidiary public. XYZ stock started to run up in front of the scheduled offering, rallying to $13.” – Steven Cohen
“I started shorting the hell out of the stock. I ended up selling 900,000 shares of stock and a couple of thousand calls. My average sales price was around $35, and the stock went as high as $45. On Friday, the day of the offering, XYZ plummeted.” – Steven Cohen
3 Life Lessons from Steven Cohen
Now that you know all about Steven Cohen’s net worth and how he achieved success; let’s take a look at some of the lessons we can learn from him:
1. Step By Step
If you work on something a little bit every day, you end up with something that is massive.
2. Limits
Don’t limit your challenges. Challenge your limits.
3. Don’t Quit
Don’t quit. Most silver linings usually follow the worst moments. You have to stay strong. Remember to keep your head up.
Frequently Asked Questions
How much is Steven Cohen worth?
Steven Cohen’s net worth is estimated to be $16 Billion.
How old is Steven Cohen?
Steven Cohen was born on June 11, 1956, and is currently 66 years old.
How tall is Steven Cohen?
Steven Cohen’s height is 1.75 m, which is equal to 5 ft 9 in.
Summary
Steven Cohen is an American hedge fund manager.
Cohen is one of the inspirations for the character of Bobby Axelrod on the Showtime series “Billions,” earned his first significant fortune through the now-closed S.A.C. Capital Advisors.
S.A.C. was shuttered in the wake of an insider trading scandal. Toda, Cohen runs a hedge fund called Point72 Asset Management which exclusively manages his own money.
As of March 2023, Steven Cohen’s net worth is estimated to be roughly $16 Billion.
