Steve Cohen built his fortune through trading and hedge-fund ownership, moving from a long proprietary-trading career at Gruntal to SAC Capital and later Point72. [1][2][3]
From proprietary trading to SAC Capital
Point72 says Cohen began his investing career at Gruntal & Co., where he managed proprietary capital for fourteen years. Forbes reported that he started there as an options trader after Wharton and earned an $8,000 profit on his first day, establishing the trading career that preceded his own fund. [2][3]
In 1992 Cohen founded SAC Capital. Point72's corporate history records the launch with about $20 million of assets under management, while later Forbes accounts describe SAC's growth into one of the best-known hedge-fund organizations of its era. [1][4]
The transition to Point72
After SAC Capital's regulatory settlement, Cohen converted the investment operation into the Point72 family office in 2014. Point72 later returned to managing outside capital, leaving Cohen's fortune tied to decades of investment performance, management fees and retained ownership in the firm he built. [1][2][4]
Sources for background
Sources reviewed Sep 13, 2026.
- What We Do · Point72
- Steven A. Cohen · Point72
- Market Masters · Forbes · Sep 17, 2008
- Steve Cohen · Forbes · Mar 12, 2026
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