Steven A. Cohen Net Worth
Steven A. Cohen Net Worth is
Steven A. Cohen Bio/Wiki, Net Worth, Married 2018
He could be the creator of SAC Capital Advisers, a Stamford, Connecticut-based hedge fund focusing mainly on equity marketplace strategies. In November 2012, he started to be implicated in a large criminal insider trading scandal.
Forbes Magazine estimates Cohen’s bundle at $8.3 billion in September 2011, rating him the 35th wealthiest guy in the United States. In 1998, the Cohen family bought a 35,000 square feet (3,300 m2) house on 14 acres (57,000 m2) in Greenwich, Connecticut. His 2005 settlement was apparently $1 billion, significantly higher than his 2004 damages ($450 million), 2001 settlement ($428 million), and 2003 damages ($350 million). Additionally, Cohen owns 7% of search engine Baidu and possesses 5% of SSD design company OCZ Technology. In February 2013 Forbes recorded Cohen as among the 40 Greatest-Earning hedge fund managers. In December 2013, Cohen’s New York penthouse in the highly enviable Bloomberg Tower was recorded for sale for 98 million dollars. On November 20, 2012, in line with The Wall Street Journal, Cohen was implicated within an alleged insider trading scandal involving an ex-SAC supervisor, Mathew Martoma. Cohen wasn’t directly identified within an indictment released in The Big Apple, but was referred to as “Portfolio Manager A” “according to individuals familiar with the issue.” Reuters reported that Cohen “personally signed off on” the trades which are being investigated, but that “specialists said prosecutors lack evidence that Cohen understood the trades … were based on inside information”. A SAC spokesman after said that “Mr. Cohen and SAC are assured that they’ve acted appropriately and will continue to work with the government’s inquiry,” according to The Wall Street Journal. Five former SAC workers are implicated in insider trading deals by prosecutors and three have admitted. Another three former SAC dealers are charged with illegal trading as soon as they left SAC and two have pleaded guilty. SAC’s culture was described as “high-stress, pressure-packed… (and) callous”. The company relentlessly digs “for information about publicly traded firms to form a ‘mosaic,’ constructing an entire image of the organization ‘s prospects that gives the company an advantage over other investors.”