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Steven A. Cohen, born June 11, 1956, in Great Neck, New York, is a prominent American investor and real estate developer. He grew up in a Jewish family as the third of eight children; his father was a dress manufacturer in Manhattan's garment district, and his mother was a piano teacher. Cohen developed an early interest in risk-taking through high school poker games at John L. Miller Great Neck North High School, graduating in 1974. He earned a BS in economics from the Wharton School at the University of Pennsylvania in 1978. Beginning his career at Gruntal & Co. as a junior options trader, he rapidly advanced, reportedly earning $8,000 on his first day and later managing a $75 million portfolio. In 1992, he founded S.A.C. Capital Advisors, one of the most successful hedge funds known for aggressive and high-risk strategies. Cohen collaborated professionally with investor Paul Singer.
In 2013, S.A.C. Capital pleaded guilty to insider trading charges, paying a record $1.8 billion fine and ceasing management of outside money; Cohen avoided criminal charges but was banned from managing external funds for two years. He transformed his firm into Point72 Asset Management in 2014, initially a family office that reopened to outside investors in 2018. Cohen is also a Boston real estate developer and collaborated with The David Project on an anti-mosque campaign.
Since September 14, 2020, he has been chairman and majority owner (over 97%) of the New York Mets MLB team. Cohen was married to Patricia Finke from 1979 to 1990 and has been married to Alexandra Garcia since 1992. An avid philanthropist, he co-founded the Steven & Alexandra Cohen Foundation in 2001, focusing on Lyme disease research, underserved communities, children, the arts, and sustainability. In 2015, he established the Cohen Veterans Network to support veterans' mental health. He serves on several boards, including the Robin Hood Foundation (Emeritus) and the Museum of Modern Art (MoMA) Trustees. A prominent art collector with a collection valued at over $1 billion, Cohen has faced criticism for his firm's past practices but remains one of the wealthiest figures in finance.