Steve Cohen (businessman)

For other persons with a similar name, see Steve Cohen (disambiguation).
"Steven A. Cohen" redirects here. For the American academic, see Steven A. Cohen (academic).

Steven Cohen
Cohen in 2023
Born (1956-06-11) June 11, 1956 (age 68)
Great Neck, New York, U.S.
EducationUniversity of Pennsylvania (BS)
Occupation(s)New York Mets (majority owner)
S.A.C. Capital Advisors (founder)
Point72 Asset Management (founder)
Known forRecord insider trading fine of $1.8 billion[1]
Spouses
Patricia Finke
​
​
(m. 1979; div. 1990)​
[2]
Alexandra Garcia
​
(m. 1992)​

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.[3] 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.[4]

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.[1]

Cohen loosely inspired the character Bobby Axelrod, played by Damian Lewis, on the Showtime series Billions.[5]

  1. ^ a b Scannell, Kara; Foley, Stephen (November 4, 2013). "SAC to pay biggest insider fine of $1.8bn". New York: Financial Times. Nikkei. Archived from the original on November 5, 2019. Retrieved December 4, 2019.
  2. ^ Cite error: The named reference NewYorkTimes2013April3LattmanPeter was invoked but never defined (see the help page).
  3. ^ Thosar, Deesha. "Steve Cohen officially approved as new principal owner of Mets". New York Daily News. Retrieved October 30, 2020.
  4. ^ Goldstein, Matthew (April 7, 2014). "SAC Capital, Meet Point72 Asset Management". The New York Times. New York. The New York Times Company. p. B5. Archived from the original on March 26, 2019. Retrieved June 12, 2019.
  5. ^ Hyatt, John (January 21, 2022). "The Secret Behind TV Hit 'Billions'? Hanging Out With Billionaires, Say Its Creators". Forbes. Retrieved September 17, 2022.