Steven A. Cohen is one of the most popular and richest Entrepreneur who was born on June 11, 1956 in Connecticut, Connecticut, United States. Hedge fund manager who was ranked by Forbes magazine as one of the wealthiest men in the world. His company, SAC Capital Advisors, was accused in 2013 by the Securities and Exchange Commission of the crime of insider trading.
He and David Einhorn both had careers as hedge fund managers.
In 1978, after graduating from Wharton, Cohen got a Wall Street job as a junior trader in the options arbitrage department at Gruntal & Co. His first day on the job at Gruntal & Co., he made an $8,000 profit. He would eventually go on to make the company around $100,000 a day and eventually managed a $75 million portfolio and six traders. Cohen was running his own trading group at Gruntal & Co. by 1984, and continued running it until he started his own company, SAC.
Cohen grew up in a Jewish family in Great Neck, New York, where his father was a dress manufacturer in Manhattan’s garment district, and his mother was a piano teacher. He is the third of seven brothers and sisters. He took a liking to poker as a high school student, often betting his own money in tournaments, and credits the game with teaching him how “to take risks.” Cohen received an economics degree from the Wharton School at the University of Pennsylvania in 1978. While in school, a friend helped him open a brokerage account with $1,000 of his tuition money.
He was married twice – to Patricia Finke and Alexandra Garcia – and had six children.
