Billionaire hedge fund manager Steven A. Cohen, who runs the super-secretive hedge fund SAC Capital Advisors, has a reputation on the Street for being one of the most successful traders.
Cohen launched his Stamford-headquartered hedge fund in 1992 with only $25 million. Today the fund has $14 billion assets under management and employees around 900 people globally.
During the late 1990s and early 2000s, Cohen came into prominence as a powerful Wall Street trader for his grand slam returns.
He's been in the spotlight for a different reason.
Late last year, he was identified as "Portfolio Manager A" in the latest insider trading case against former CR Intrinsic (a subsidiary of SAC) portfolio manager Mathew Martoma. The New York Times recently reported that Cohen and others at the firm also received subpoenas to testify before a grand jury in the case.
It's well-known that Cohen is the ultimate target of the government in their crackdown on insider trading.
While he has been implicated in the latest insider trading case, it's important to keep in mind that he has not been charged with any wrongdoing. In fact, he may never be charged.
He's maintained that he acted appropriately.
Now let's get to know Cohen better.
He's a Long Island native. He grew up in a middle class family and had a lot of siblings.
Steve Cohen was born on June 11, 1956. He's the third out of eight kids.
He grew up on Great Neck, Long Island, New York.
His father worked at a dress manufacturer and his mother was a homemaker who also taught piano lessons.
Source: BusinessWeek, Source: WSJ
In high school, the billionaire worked at a supermarket.
Cohen was a "fruit boy" at Bohack supermarket where he made a $1.85 an hour.
He quit that job because he was making more at the poker table.
He graduated from Wharton with a degree in economics.
He studied economics at the Wharton School of Business at the University of Pennsylvania.
See the rest of the story at Business Insider
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