Few companies could survive a guilty plea to insider trading charges, a $1.2 billion penalty and a ban on handling outsiders’ money.
S.A.C. Capital Advisors probably will, if only because of the immense wealth of its founder, Steven A. Cohen.
Steven A. Cohen
Cohen’s reach extends well beyond the financial world. As the interactive Muckety map above shows, he is a minority owner of the New York Mets and a trustee of Brown University and the Museum of Contemporary Art in Los Angeles.
His family foundation has provided grants to organizations such as Sloan-Kettering, New York-Presbyterian Hospital and the Museum of Modern Art.
With assets of $75 million, the foundation has also given millions to the Robin Hood Foundation, which fights poverty in New York.
In light of the company’s guilty plea, and the highly publicized government investigation that preceded it, one might expect some of these organizations to distance themselves from Cohen money. But don’t bet on it.