Steven A. Cohen is an American hedge fund manager and the founder of SAC Capital Advisors. He graduated from Wharton and immediately jumped into Wall Street as a junior trader who quickly built up a $75 million portfolio with six traders. He went on to create the Connecticut based company that deals with equity market strategies and manages around $14 billion worth of equity. Cohen himself has a net worth of $11.1 billion and is a money making machine who claims he has earned nearly $2 billion in 2014 alone.
Point72 Asset Management is Cohen’s personal investing shop that has generated profits of around $1.8 billion so far in 2014. The company is bringing in significantly much more money compared to the other hedge funds. The company is currently managing around $9 or $10 billion, mainly for Cohen himself, but has gained 2.58% net of fees.
Cohen’s company currently has 860 employees and 460 of them are present at the Connecticut offices, while the rest are in New York City for the most part. Point72 Asset Management and Cohen are refusing to comment about the income amount, although the information comes from a source that claims to have seen the return forms.
Cohen started SAC with $20 million of his own money and the company is still managing around $14 billion in equity, even after dealing with a scandal for insider trading in 2013 that cost the company a fine of $1.2 billion. At age 58, Cohen is still making a massive salary that was at $600 million back in 2011. He has always brought in a large yearly amount, and even saw $2.6 billion in 2013. The man is a money machine, being ranked as the 106th richest man in the world as well as the 35th richest in the United States. He’s even is a minority owner of the New York Mets and constantly continues to maintain his wealth annually.
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