Over the last few months, Chewy co-founder Ryan Cohen has been central to GameStop's controversy. After sending cryptic tweets and joining the company's board, he's now being named chairman of the company. With so much buzz around him, he manages to keep private matters—like who his wife is—on the downlow.
Cohen hasn't said much about his wife and family, but it's clear that he prioritizes him amid all of his business ventures.
Ryan Cohen and his wife have a son together
In 2018, Cohen left his post at Chewy to focus on his family life. The company went public at a valuation of $8.7 billion just a year later, effectively becoming Amazon for pets. Things have only progressed since then with the boom in pet ownership and e-commerce sales during the COVID-19 pandemic (11.3 million people got a new pet during the pandemic, while e-commerce sales grew 44 percent YoY).
All things considered, Cohen still got a sweet deal when he sold Chewy to PetSmart for $3.4 billion. His wife was pregnant at the time and has since birthed their first child. He openly left Chewy to focus on his family. In a statement, Cohen wrote, "In a short time span, Chewy has gone from a concept to disrupting and redefining an entire industry. I feel the time is right for me to pass on the torch so I can pursue personal goals and spend time with my family."
It seems that Cohen knew exactly what he was doing for himself and his family.
Cohen's plans as he pursues GameStop
As GameStop's new chairman, Cohen has a lot of influence over business matters. He also brings connections with RC Ventures, a ventures firm. The firm holds a 12.9 percent stake in GameStop (NYSE:GME), so the fit is natural.
A lot is changing at GameStop, including a major shuffling of the board of directors, whose compensation will drop by 28 percent after June 9 (GameStop's annual meeting). Things are being driven more by e-commerce and less by storefronts, and that trend will only escalate for the company.
With a few years of family life under his belt, Cohen seems to feel ready for his next move. His wife and son will only benefit—but their own ventures are currently private.
Ryan Cohen and his wife's net worth is in the billions.
According to Forbes, Cohen is worth $1.9 billion. When Cohen bought his 13 percent GameStop stake at the end of 2020, he spent $76 million. Since December 31, 2020, the shares have swelled tremendously, so his position is doing extraordinarily well.
It isn't clear what Cohen's wife does and if she contributes to his net worth. Cohen comes from fairly modest means, but it's possible that his other side of the family has a different stature. Whatever the case, Cohen appears to keep his family in mind even when making monumental business decisions.