Steve Cohen (businessman)
Steven A. Cohen (born June 11, 1956) is an American hedge fund manager and owner of the New York Mets of Major League Baseball since September 14, 2020, owning just over 97% of the team. He is the founder of hedge fund Point72 Asset Management and S.A.C. Capital Advisors, which closed after pleading guilty to insider trading and other financial crimes.
Steven Cohen | |
|---|---|
Cohen in 2023 | |
| Born | June 11, 1956 Great Neck, New York, U.S. |
| Education | University of Pennsylvania (BS) |
| Occupation(s) | New York Mets (majority owner) S.A.C. Capital Advisors (founder) Point72 Asset Management (founder) |
| Known for | Record insider trading fine of $1.8 billion |
| Spouses | Patricia Finke
(m. 1979; div. 1990)Alexandra Garcia (m. 1992) |
In 2013, the Cohen-founded S.A.C. Capital Advisors pleaded guilty to insider trading and agreed to pay $1.8 billion in fines ($900 million in forfeiture and $900 million in fines) in one of the biggest criminal cases against a hedge fund. Cohen was prohibited from managing outside money for two years as part of the settlement reached in the civil case over his accountability for the scandal. The hedge fund agreed to plead guilty to wire fraud and four counts of securities fraud and to close its doors to outside investors.
Cohen loosely inspired the character Bobby Axelrod, played by Damian Lewis, on the Showtime series Billions.