Steve Cohen More Than Doubled His Pay Between 2011 And 2012

Steve Cohen

Photo: Getty Images

Billionaire hedge fund manager Steve Cohen, the founder of $14 billion SAC Capital, earned more than twice as much in 2012 than he did in 2011.Forbes has just released its 40 highest earning hedge fund managers list. Overall, Cohen ranked No. 3 on the magazine’s list. 

For 2012, Cohen took home an estimated $1.3 billion compared to $600 million in 2011, the list shows.

SAC Capital had returns of 25% last year, according to Forbes.

What’s more is about 40% of SAC’s assets under management come from outside investors with the rest belonging to Cohen and SAC employees, according to the New York Times. 

Cohen has attracted a lot of unwanted attention lately because he has been identified in several media reports as “Portfolio Manager A” in the latest insider trading case against former CR Intrinsic (a subsidiary of SAC) portfolio manager Mathew Martoma.  

It’s known that Cohen is the ultimate target of the Securities and Exchange Commission and the Department of Justice. 

Still, he has not been charged with any wrongdoing and he may never be charged. 

SEE ALSO: The Fabulous Life Of Steve Cohen >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.