You’ve probably seen the name Steve Cohen splashed across the back pages of the New York Post or ticker tapes on CNBC. He’s the guy who bought the Mets for a record-shattering $2.4 billion. He’s the hedge fund titan who once saw his firm, SAC Capital, hit with a $1.8 billion fine. Honestly, depending on who you ask, he’s either a savior in Queens or the ultimate "villain" of Wall Street.
But the real story? It’s way more nuanced than a tabloid headline.
In 2026, Steve Cohen is navigating a world where he’s no longer just a "trader." He’s a cultural force. He’s the guy trying to turn around a baseball franchise while simultaneously pivoting his massive firm, Point72, into the world of AI and private equity. He’s 69 years old, worth an estimated $21.3 billion, and he still tweets—well, "posts on X"—at fans who complain about the Mets' payroll.
He’s a paradox. A quiet, private man who owns the loudest team in New York.
The SAC Capital Era: Success at a Heavy Price
To understand who is Steve Cohen, you have to go back to the 90s. He started SAC Capital with $25 million of his own money. Back then, he was the "Hedge Fund King." His traders were known for being aggressive, and the returns were legendary—sometimes 70% a year.
It didn't last forever. The SEC came knocking.
In 2013, SAC Capital pleaded guilty to insider trading. It was a massive deal. The firm paid $1.8 billion in penalties and was forced to stop managing outside money. Cohen himself was never charged with insider trading, but he was barred from managing other people's money for two years for "failing to supervise" his employees.
That would have ended most careers. For Cohen, it was just a pivot. He rebranded as Point72, a family office that managed his own staggering personal fortune. By 2018, he was back in the game, accepting outside capital again. It was a comeback that left a lot of people in the financial world shaking their heads, but it showed one thing: the guy knows how to trade.
Why Steve Cohen Still Matters in 2026
Fast forward to today. If you look at Point72’s recent moves in early 2026, you’ll see he isn’t just betting on old-school stocks. His firm has been leaning heavily into AI, specifically dumping massive amounts into NVIDIA—a position valued at over $1.3 billion as of January.
He’s also not afraid to get his hands dirty in local politics. Right now, he’s in the middle of a high-stakes battle to build a massive casino complex next to Citi Field. It’s a project with Hard Rock that could redefine Queens. Some locals hate it. Cohen, being Cohen, sees it as a logical extension of his empire.
- The Juan Soto Factor: In 2025, Cohen proved he’s still the biggest spender in baseball by landing Juan Soto for a staggering $765 million.
- The Payroll Drama: When rumors swirled in late 2025 that the Mets were cutting back, Cohen jumped on social media to call critics "idiots," insisting the 2026 payroll would stay north of $320 million.
- The AI Pivot: Point72 Ventures recently laid off its fintech team to double down on Artificial Intelligence.
Basically, he’s a guy who adapts.
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The Art of the Deal (and the Literal Art)
You can't talk about Cohen without mentioning the art. He doesn't just buy paintings; he buys "trophies." We’re talking about a collection worth well over $1 billion.
He owns the famous 14-foot shark preserved in formaldehyde by Damien Hirst. He bought Picasso's Le Rêve for $155 million from Steve Wynn after Wynn accidentally poked a hole in it with his elbow. Just this year, reports surfaced that he picked up a 1958 Jasper Johns Flag painting for $110 million.
It’s not just a hobby. It’s how he stores wealth and projects power. He sits on the board of the Museum of Modern Art (MoMA). He’s as much a titan in the art world as he is on the trading floor.
A Different Kind of Philanthropy
There's a side to him that doesn't get as much "villain" press. The Steven & Alexandra Cohen Foundation has poured hundreds of millions into causes like Lyme disease research and children's health.
More interestingly, he founded the Cohen Veterans Network. It’s a group of clinics that provide mental healthcare for veterans and their families. It’s a massive operation. Say what you want about his trading history, but he’s putting serious capital into gaps in the American healthcare system.
How to Think About Steve Cohen Today
So, who is he? He’s a guy who grew up in Great Neck, New York, watching the Mets and playing poker. He says poker taught him how to take risks. That risk-taking has made him one of the 30 richest people in America.
He’s also a man who is clearly aware of his legacy. He’s trying to buy his way into New Yorkers' hearts through the Mets while keeping his firm at the cutting edge of the AI revolution.
Actionable Takeaways for Investors and Fans:
- Watch the Casino Vote: The New York Gaming Commission’s final decision on the Queens casino license is the next big "win" or "loss" for Cohen’s local influence.
- Monitor the 13F Filings: If you want to trade like Cohen, keep an eye on Point72’s quarterly filings. His shift toward AI-dominant portfolios (like NVIDIA and Microsoft) is a clear signal of where he thinks the market is headed.
- Don't Bet Against the Payroll: Despite the "idiot" comments on X, Cohen has consistently proven he will spend whatever it takes to stay competitive in MLB, even if it means paying record-high luxury taxes.
He’s not retiring. He’s not slowing down. Steve Cohen is still the most aggressive guy in the room, whether that room is a boardroom or a dugout.
Next Steps for You: Check out the latest SEC 13F filings for Point72 to see Cohen's specific stock movements for this quarter, or follow the New York State Gaming Commission’s updates if you’re tracking the progress of the Metropolitan Park casino project in Queens.