New Mets owner Steve Cohen pocketed $1.6B in 2020 By Thornton McEnery January 5, 2021 | 8:08pm | Updated Enlarge Image NY Mets More On: hedge funds Herbalife stock soars as Carl Icahn sells, says ‘role as activist not needed’ Wall Street readies for more stock froth amid economic pain in 2021 Hedge fund Alden Global Capital offers to buy Tribune Publishing Activist investor Dan Loeb urges Intel to explore deal options Mets fans will be pleased to learn that Steve Cohen hit it out of the park last year. The billionaire investor’s hedge fund Point72 Asset Management returned double digit gains of around 17 percent in 2020, according to an investor. Cohen’s personal take on that haul is expected to be in the range of $1.6 billion — or roughly two-thirds the $2.4 billion the 64-year-old paid for the Queens team in August after an earlier $2.6 billion deal fell apart in February. The pay raise couldn’t come at a better time. Cohen– who ended 2020 with a net worth pegged at $14 billion, according to Forbes — has vowed to spend big on the Mets. And fans are expected to try to keep him to that promise, especially if he continues to rebel against his reputation as a button-up money man by engaging with them on Twitter. Point72 is Cohen’s second major fund. His SAC Capital Advisors shuttered in 2016 after the firm pleaded guilty to insider trading charges. Cohen was banned from managing outside money for two years. Point72 has since grown to $18.9 billion under management — a number that’s not likely to increase since Cohen closed the fund to new investments after raising $10 billion as his Mets acquisition gained steam in the summer of 2020. https://nypost.com/2021/01/05/new-mets-owner-steve-cohen-pocketed-1-6b-in-2020/ https://www.institutionalinvestor.c...nt72 Gains to 14 Billion in Personal Earnings
I call 16% vs 46% benchmark gains a huge underperformance. And why should fans care how much the team's owner makes in his hedge fund. Click bait for the lemmings I say. A sports team to a billionaire is like a toy yacht, zero emotional attachment. Only idiot fans hinge their entire life worth and happiness on a sport's team scores and even drag their sons into this waste of precious time. Fortunately the millennials and gen z have different ideas of happiness and venture out more than their retarded middle class parents to spend weekend after weekend on the sofa in front of a TV or at the ballpark gaining lb. That this comes from the NYP says it all.
Can someone post stories of people losing everything, these Billionaires are just making life even more depressing, not like there is actually hope left in the world