Steve Cohen net worth: How much is the New York Mets owner worth?
Anyone who has been following the MLB offseason knows that the New York Mets have some serious cash to throw around. The two pitchers who top their rotation, Max Scherzer and Jacob deGrom, have a price tag of well over $70 million this year.
Throughout their sixty-year history, the New York Mets have become one of the most recognizable teams in baseball. Citi Field, their base in Queens, has been an icon for fans for decades.
Less well-known, however, is the man behind the scenes. Steve Cohen bought the Mets from previous owners Fred Wilpon and Saul Katz in 2020 after taking a minority stake in the team in 2012.
“The fact is I can’t control what resources other owners or other teams have, and what they’re going to do with those resources,” Hal Steinbrenner said when asked if he felt pressure because of the spending of Mets owner Steven A. Cohen. nyti.ms/3thOKUI
"“The fact is I can’t control what resources other owners or other teams have, and what they’re going to do with those resources,” Hal Steinbrenner said when asked if he felt pressure because of the spending of Mets owner Steven A. Cohen." - @ NYT Sports
Just who is Steve Cohen, and how much is he worth?
New York Mets owner Steve Cohen: How much has he got?
Steve Cohen reportedly spent $2.4 billion to buy a controlling share of the Mets in 2020. After this colossal purchase, he owns 95% of the ball club. He transacted via a broker called Sterling Equities, and the deal was finalized in November 2020.
It was reported that other notable people, such as former player Alex Rodriguez and singer Jennifer "J-Lo" Lopez, were also interested in buying the club.
Steve Cohen is the chairman, CEO, and president of Point72 Asset Management, a New York City-based hedge fund with well over $20 billion under its management. He founded it in 2014 after working at S.A.C. Capital Advisors for a number of years.
Positive thought: The worst-case scenario is Scherzer-Bassitt-Carrasco-Walker. A million times better with a healthy deGrom but the rotation without him would hardly be non-competitive. Cohen’s Scherzer courtship and Eppler’s Bassitt trade certainly looking big right now.
"Positive thought: The worst-case scenario is Scherzer-Bassitt-Carrasco-Walker. A million times better with a healthy deGrom but the rotation without him would hardly be non-competitive. Cohen’s Scherzer courtship and Eppler’s Bassitt trade certainly looking big right now." - @ Andy Martino
Steve Cohen is a very wealthy man. Exactly how wealthy? According to Bloomberg, the New York native is currently worth an estimated $11.9 billion in 2022.
Cohen's deep pockets have been evidenced by his ability and willingness to sign players to larger-than-life contracts. These include Francisco Lindor's $341 million deal over 10 years, as well as Max Scherzer's three-year, $135 million deal, the largest in baseball history.
It is still unclear whether Cohen's deep pockets will translate into on-field success for the New York Mets, but one thing is for certain. The Mets need never worry about cash as long as Cohen is in charge.