Steven A. Cohen, born June 11, 1956, is an American hedge fund manager and the owner of the New York Mets of Major League Baseball. On September 14, 2020, Cohen and the New York Mets reached an agreement to become the team’s dominant owner, with Cohen holding around 97.2% of the shares.
He founded the Stamford, Connecticut-based hedge fund Point72 Asset Management and the since-closed S.A.C. Capital Advisors. In one of the largest criminal cases against a hedge fund, the Cohen-founded S.A.C. Capital Advisors pleaded guilty to insider trading in 2013 and agreed to pay $1.8 billion in fines ($900 million in forfeiture and $900 million in fines).
As part of the agreement made in the civil lawsuit regarding his responsibility for the incident, Cohen was barred from managing outside money for two years. The hedge fund consented to close to outside investors and enter a guilty plea to four counts of securities fraud and wire fraud.
As a high school student, he developed a fondness for poker and frequently wagered his own money in tournaments. He attributes the game to teach him “how to take risks.” In 1974, Cohen earned his high school diploma from John L. Miller Great Neck North High School, where he participated in the soccer squad.
In 1978, Cohen graduated with a degree in economics from the Wharton School of the University of Pennsylvania. Cohen joined the Theta chapter of Zeta Beta Tau fraternity while still in school and was made a brother there. He also held the position of treasurer. While in school, a friend helped him open a brokerage account with $1,000 of his tuition money.
Steven Cohen Siblings: Meet All 7 Siblings of Steven Cohen
Cohen was raised in Great Neck, New York, where his mother taught piano and his father worked as a dressmaker in Manhattan’s garment district. The siblings of Steven Cohen have kept their lives secret and don’t want to be seen by the public. He is the third of seven brothers and sisters, including Gary Cohen, Cindy Cohen, Stacey Cohen, Wendy Cohen, Donald Cohen, Marty Cohen, and Russell Cohen.