Steve Cohen

Steve Cohen
Born	Steven A. Cohen 11 6, 1956
Birthplace	Great Neck, New York, United States
Nationality	American
Occupation	Hedge fund manager, sports team owner
Known for	Founder of Point72 Asset Management, owner of the New York Mets
Education	University of Pennsylvania (Wharton School)

Steven A. Cohen (born June 11, 1956) is an American billionaire hedge fund manager, investor, and sports team owner. He is the founder and chairman of Point72 Asset Management, one of the largest and most prominent hedge fund firms in the world. Cohen is also the owner of the New York Mets, the Major League Baseball franchise he purchased in 2020. Over the course of a career spanning more than four decades on Wall Street, Cohen built a reputation as one of the most successful traders in the history of the financial industry, amassing a personal fortune through his aggressive and data-driven approach to investing. In 2026, Cohen topped Bloomberg's annual ranking of hedge fund earners, taking home an estimated $3.4 billion in personal compensation, edging out fellow managers David Tepper and Izzy Englander for the top position. As Mets owner, Cohen has become one of the most visible and outspoken team owners in professional sports, investing heavily in the franchise's roster and operations while making headlines for his candid views on team management.

Early Life

Steven A. Cohen was born on June 11, 1956, in Great Neck, New York, a suburb on the North Shore of Long Island. He grew up in a middle-class Jewish family. His father worked as a dress manufacturer in Manhattan's Garment District, and his mother was a part-time piano teacher. Cohen was one of eight children in the household, and the family's modest means instilled in him a competitive drive from an early age.

As a youth, Cohen developed an interest in card games, particularly poker, which he later credited with sharpening his ability to assess risk, read opponents, and make rapid decisions under conditions of uncertainty — skills that would prove foundational to his career as a trader. He attended Great Neck North High School, where he was an active student.

Education

Cohen enrolled at the University of Pennsylvania, where he attended the Wharton School of Business, one of the most prestigious undergraduate business programs in the United States. He graduated in 1978 with a degree in economics. At Wharton, Cohen developed an interest in the stock market, and he reportedly opened a brokerage account while still a student to begin trading equities. His early experiences in the markets during his college years helped solidify his ambition to pursue a career on Wall Street.

Career

Early Career on Wall Street

After graduating from Wharton in 1978, Cohen took a position as a junior trader in the options arbitrage department at Gruntal & Co., a mid-size brokerage firm based in New York City. By his own account, he generated approximately $8,000 in profit on his first day of trading. Cohen quickly distinguished himself at Gruntal, eventually managing a portfolio and a team of traders that reportedly generated roughly $100 million in annual profits for the firm. He remained at Gruntal for over a decade, honing his trading style, which emphasized short-term positions, rapid execution, and an intensive focus on market data and momentum signals.

SAC Capital Advisors

In 1992, Cohen left Gruntal to establish his own firm, SAC Capital Advisors, named after his initials. He launched the fund with approximately $25 million in capital, much of it his own. SAC Capital grew rapidly, becoming one of the most profitable and closely watched hedge funds in the industry. The firm was known for its aggressive trading strategies, its use of extensive research networks, and its willingness to take large, concentrated positions. At its peak, SAC Capital managed approximately $14 billion in assets and employed hundreds of traders and analysts across multiple offices.

SAC Capital's returns were extraordinary by industry standards, with the firm reportedly generating average annual returns of approximately 30 percent over the course of its existence, net of fees. Cohen's personal compensation from the fund made him one of the wealthiest individuals in the financial industry.

However, SAC Capital became the subject of a prolonged federal investigation into insider trading. Over several years, a number of current and former SAC employees were charged with and convicted of insider trading offenses. In 2013, SAC Capital Advisors itself pleaded guilty to securities fraud charges and agreed to pay $1.8 billion in fines — one of the largest penalties in the history of insider trading prosecutions. Cohen was not personally charged with criminal wrongdoing, but the U.S. Securities and Exchange Commission (SEC) brought a civil administrative action against him, alleging that he failed to adequately supervise employees who engaged in insider trading. In 2016, Cohen reached a settlement with the SEC that included a two-year ban on managing outside investor capital.

The legal proceedings effectively forced the closure of SAC Capital as a fund that accepted outside money. Cohen converted the firm's operations into a family office, managing his own substantial personal fortune during the period of the supervisory ban.

Point72 Asset Management

Following the expiration of the SEC-imposed ban in 2018, Cohen relaunched his investment firm under the name Point72 Asset Management, named after the address of his estate in Greenwich, Connecticut. Point72 began accepting outside investor capital once again, and the firm quickly grew to become one of the largest hedge fund operations in the world, managing tens of billions of dollars in assets.

Point72 operates as a multi-strategy hedge fund, employing a range of investment approaches including fundamental equity long/short strategies, quantitative and systematic trading, macro investing, and venture capital through its Point72 Ventures arm. The firm has invested heavily in technology, data science, and machine learning to support its investment decision-making processes.

In early 2026, Point72 disclosed significant new positions in major technology companies, reflecting Cohen's conviction in the long-term growth potential of artificial intelligence infrastructure and Big Tech companies. According to regulatory filings reported by financial media, the firm invested approximately $2.8 billion into major technology stocks. The moves came at a time when AI-related equities had faced increased volatility, as investors reconsidered the pace and cost of capital spending on data centers, semiconductors, and related infrastructure. The disclosures signaled Point72's conviction in the AI infrastructure buildout and the leadership positions of major technology firms in that space.

Cohen's performance in 2025 was particularly notable. He topped Bloomberg's annual ranking of the highest-earning hedge fund managers, with an estimated personal take-home of $3.4 billion, surpassing David Tepper and Izzy Englander for the number one position. The ranking underscored Point72's strong investment returns and Cohen's continued standing as one of the most successful investors in the hedge fund industry.

Ownership of the New York Mets

On November 6, 2020, Cohen completed his purchase of the New York Mets from the Wilpon family for approximately $2.4 billion, making it the most expensive transaction for a professional baseball franchise at the time. Cohen, a lifelong Mets fan who had grown up rooting for the team on Long Island, had previously attempted to acquire the club in 2012 before that deal fell through.

As owner, Cohen brought a markedly different approach to the Mets' operations compared to his predecessors. He committed substantial financial resources to the team's payroll, player acquisitions, and organizational infrastructure. The Mets became one of the highest-spending teams in Major League Baseball under Cohen's ownership, making several high-profile free agent signings and trades aimed at building a championship-caliber roster.

Cohen has been an unusually active and visible owner by MLB standards, frequently engaging with fans on social media and making candid public statements about team matters. His willingness to spend freely and his outspoken nature have made him a polarizing but prominent figure in baseball.

In February 2026, during spring training in Port St. Lucie, Florida, Cohen made headlines when he declared that the Mets would never have a team captain as long as he owned the franchise. The last Mets captain had been David Wright, who played his final game approximately eight years earlier. Cohen's statement was unequivocal, ending speculation that the team might bestow the title on a current player.

The declaration drew mixed reactions from fans and media observers. Some viewed it as a reflection of Cohen's belief in collective team leadership rather than singling out one individual, while others questioned the departure from a tradition that had been meaningful to the franchise's identity. Francisco Lindor, the longest-tenured player on the Mets roster at the time, responded publicly by saying he respected Cohen's position and that the team should focus on winning rather than titles. The episode illustrated Cohen's hands-on ownership style and his willingness to make definitive pronouncements on matters of team culture and governance.

Personal Life

Steve Cohen resides in Greenwich, Connecticut, where he maintains a large estate. He is known as an avid art collector, and his personal collection includes works by prominent modern and contemporary artists. Cohen has been described as one of the most significant private art collectors in the United States.

Cohen has been married twice. He married his second wife, Alexandra Garcia, in 1992. The couple has several children together.

Cohen has engaged in philanthropic activities, including donations to medical research, education, and veterans' causes. He and his wife established the Steven & Alexandra Cohen Foundation, which has made substantial gifts to hospitals, research institutions, and organizations supporting military veterans and their families.

Recognition

Cohen has been a recurring figure on lists of the world's wealthiest individuals, regularly appearing in the Forbes 400 and the Bloomberg Billionaires Index. His personal fortune has been estimated at various points in the tens of billions of dollars.

In 2026, Cohen earned the top position on Bloomberg's annual ranking of the highest-earning hedge fund managers, with an estimated $3.4 billion in personal income for the year. The ranking placed him ahead of David Tepper and Izzy Englander, who finished second and third, respectively. The recognition marked Cohen's return to the pinnacle of hedge fund compensation rankings after years of rebuilding his public-facing investment management business following the SAC Capital legal proceedings.

Cohen's investment decisions continue to attract significant attention from financial media and institutional investors. His firm's quarterly regulatory filings are closely scrutinized for signals about market direction, sector allocation, and individual stock picks. In early 2026, Point72's $2.8 billion allocation to major technology stocks was widely reported as a notable indicator of institutional confidence in the AI sector despite recent market volatility.

As owner of the New York Mets, Cohen has received both praise and criticism from fans and commentators. His willingness to invest heavily in the team's payroll and his active engagement with the fanbase have been noted as a significant change from the previous ownership era. His public statements, such as the declaration regarding team captains, have generated extensive media coverage and discussion within the baseball community.

Legacy

Steve Cohen's career has placed him among the most consequential figures in the modern hedge fund industry. Over more than four decades, he built and rebuilt investment firms that have managed tens of billions of dollars and employed thousands of finance professionals. His trading-centric approach, emphasis on data-driven decision making, and willingness to invest in technology and talent have influenced the operational models of numerous other hedge fund firms.

The SAC Capital insider trading case remains one of the most significant episodes in the history of financial regulation, resulting in one of the largest corporate penalties ever imposed and leading to the convictions of multiple traders. The case prompted broader discussions about compliance culture, information barriers, and supervisory obligations within the asset management industry. Cohen's personal trajectory — from the legal proceedings surrounding SAC Capital to the establishment of Point72 and his return to managing outside capital — has been cited as one of the more remarkable comebacks in Wall Street history.

As the owner of the New York Mets, Cohen has reshaped the franchise's competitive posture and public profile. His financial commitment to the team, combined with his outspoken personality and active presence on social media, has made him one of the most distinctive and discussed owners in Major League Baseball. His management philosophy, including decisions such as the permanent elimination of the team captain designation, reflects an approach that blends business-world leadership principles with sports ownership.

Cohen's substantial investments in technology stocks, particularly in the artificial intelligence sector, position him as a significant voice among institutional investors evaluating the long-term trajectory of the technology industry. His investment moves are tracked as bellwethers by both retail and institutional market participants.