5 Things To Know About Steve Cohen

Ryan Chatelain
December 05, 2019 - 9:31 am

Fred Wilpon is in negotiations to sell up to 80 percent of the team to billionaire Steve Cohen

Listen to your team news NOW.

But who is Steve Cohen?

Here are five things to know about the man who could soon be controlling the team.

1. He's a Long Island guy.

Cohen, 63, grew up as a Mets fan in Great Neck, about 10 miles from Citi Field, and became a minority owner of the team in 2012. According to The New York Times, he currently owns an 8% stake of the Mets. 

Cohen now lives in Greenwich, Connecticut, with his wife, Alexandra, and has seven children, including three from a previous marriage.

Steve Cohen

2. He's a hedge fund titan.

Cohen is one of Wall Street's richest and most powerful hedge fund managers, with his firm, SAC Capital Advisors, having run a $14 billion fund. But in 2013, his company became embroiled in an insider-trading scandal. It paid $1.8 billion in fines, and Cohen -- who was accused of failing to adequately oversee an employee who engaged in insider trading -- was later barred from managing money for outside investors for two years. He, however, was never charged directly with wrongdoing. Cohen has since changed the name of the firm to Point72 Asset Management.

Forbes estimates Cohen to be worth $13.6 billion -- 35th on its rankings of the wealthiest Americans.

3. He's a big art collector.

According to The New York Times, Cohen built an impressive art collection that included works by Gerhard Richter, Jeff Koons and Roy Lichtenstein, although he sold off $88 million in art after his firm's legal troubles.

4. He's serious about philanthropy. 

Cohen has donated millions to causes such as children's health care, education, veterans mental health, arts and more, much of it through the Steven & Alexandra Cohen Foundation. The Cohens gave $50 million to the Museum of Modern Art earlier this year. 

5. He tried to buy the Dodgers before.

This isn't Cohen's first pursuit of purchase controlling interest in a major league team. In 2012, he made an offer for the Los Angeles Dodgers but was outbid by a group headlined by Magic Johnson and Guggenheim Partners, who bought the franchise for $2.3 billion.

Correction: A previous version of this article said Cohen was the inspiration for the Showtime series "Billions," which had been widely reported. But one of the show's creators, Brian Koppelman, tweeted Wednesday night that the character Bobby Axelrod is entirely fictional.