What’s Behind Steven A. Cohen’s Stupendous Net Worth in 2023?

What’s Behind Steven A. Cohen’s Stupendous Net Worth in 2023?
Steven A. Cohen speaks on stage at the Lincoln Center Alternative Investment Gala at The Rainbow Room on April 10, 2019, in New York City. (Photo by Dave Kotinsky/Getty Images for Lincoln Center)

Name Steven A. Cohen
Net worth $17.5 Billion as of June, 2023
Salary $2 Billion+
Sources of Income Business
Gender Male
DOB Jun 11, 1956
Age 67 years
Nationality United States of America
Profession Entrepreneur, Businessperson, Investor, Trader

Steven A. Cohen, the renowned American hedge fund manager, boasts an impressive net worth of a staggering $17.5 billion as of June 2023, per Forbes. Born on June 11, 1956, in Great Neck, New York, Cohen has climbed the financial ladder with his shrewd investments and astute financial acumen.

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Point72 Asset Management and Gala Chair Steven A. Cohen speaks on stage the Lincoln Center Alternative Investment Gala at The Rainbow Room on April 10, 2019 in New York City. (Photo by Dave Kotinsky/Getty Images for Lincoln Center)
Steven A. Cohen speaks on stage at the Lincoln Center Alternative Investment Gala (Photo by Dave Kotinsky/Getty Images for Lincoln Center)

Cohen's wealth is primarily derived from his involvement in the hedge fund industry. He made his initial fortune through S.A.C. Capital Advisors, a hedge fund he founded in 1992, with an initial investment of $25 million. Over the years, SAC Capital Advisors grew exponentially, managing assets worth at least $14 billion and employing nearly 900 individuals across the globe, per Celebrity Net Worth. Cohen's success during the late '90s and early 2000s earned him a reputation as a formidable Wall Street trader, known for consistently achieving remarkable returns.

Salary

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Cohen's income is not limited to a conventional salary. As a hedge fund manager, he earns a substantial percentage of the fund's profits, which can be substantial given the size of the funds he manages. His earnings are highly variable and depend on the performance of his investments.

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After the closure of SAC Capital Advisors in 2013 due to an insider trading scandal, Cohen launched Point72 Asset Management. This new venture exclusively manages his personal wealth and investments. 

In addition to his extensive financial holdings, Cohen possesses a valuable art collection worth approximately $1 billion. This collection includes masterpieces like Picasso's "Le Reve," which he acquired for $155 million.

Steven Tananbaum, Ilana D. Weinstein and Steven A. Cohen attend the Lincoln Center's Alternative Investment Industry Gala at David Geffen Hall on November 21, 2022 in New York City. (Photo by Dave Kotinsky/Getty Images for Lincoln Center)
Steven Tananbaum, Ilana D. Weinstein and Steven A. Cohen attend the Lincoln Center's Alternative Investment Industry Gala at David Geffen Hall on November 21, 2022 in New York City. (Photo by Dave Kotinsky/Getty Images for Lincoln Center)

Steven Cohen's net worth over the years

2019 $13 Billion
2020 $14 Billion
2021 $16 Billion
2022 $16 Billion
2023 $17.5 Billion

Cohen maintains a relatively low profile on social media but his impact on the financial world is substantial. 

Twitter 287.1K followers

Cohen's early life in Great Neck, Long Island, was marked by modest beginnings. He grew up in a large family as the third of eight siblings. His father worked at a dress manufacturer while his mother taught piano lessons alongside her role as a homemaker. He has been married twice. His first marriage in 1979 was to Patricia Finke, a native of New York City's Washington Heights neighborhood. Together, they have two children but divorced in 1990.

In 1991, Cohen met Alexandra "Alex" Garcia, a single mother of Puerto Rican descent who grew up in Washington Heights. They connected through a dating service, and Alex, who had a penchant for millionaires, quickly became his second wife. She has since embraced her role as an owner of the New York Mets, actively participating in the team's charitable endeavors, including serving as president of the Amazin’ Mets Foundation. In 1998, the couple purchased a sprawling 35,000-square-foot home on 14 acres in Greenwich, Connecticut.



 

Despite the controversies surrounding his hedge fund SAC Capital Advisors, Cohen has received recognition and awards for his contributions to finance. He has been a prominent figure in the hedge fund industry for decades.

What is SAC Capital Advisors, and why did it close?

SAC Capital Advisors was Steven Cohen's hedge fund that was closed in 2013 due to an insider trading scandal. The firm pleaded guilty to insider trading charges and agreed to pay a $1.8 billion fine, leading to its closure for outside investors.

What is Point72 Asset Management?

Point72 Asset Management is the hedge fund that Steven Cohen established to manage his personal wealth and investments after the closure of SAC Capital Advisors.

How did Steven Cohen amass his art collection?

Steven Cohen's art collection, valued at around $1 billion, includes significant acquisitions such as Picasso's "Le Reve," purchased for $155 million. His passion for art has led him to build an impressive collection over the years.

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