Ryan Cohen: The Millennial Midas Touch – From Pet Food to Meme Stocks and Beyond
Have you heard of Ryan Cohen? If not, you’re missing a key player in business and internet culture. He isn’t just another Wall Street suit. He is a millennial mogul who gained his riches by disrupting multiple industries.
The Cohen Portfolio: A Business Empire in the Making
Let’s explore Ryan Cohen’s companies and investments. The variety is impressive, right?
GameStop (GME): From Executive Chairman to CEO – The Meme Stock Kingmaker?
GameStop, a nostalgic spot for gamers, found a savior in Ryan Cohen. He isn’t merely a fan. He is deeply invested. Cohen is the Executive Chairman and owns about 10% of GameStop Corp, which is approximately 36 million shares, valued at over $826 million. That’s no small sum.
Cohen’s involvement goes beyond ownership. He became Chairman in June 2021 and switched to CEO in September 2023. His commitment is clear. Whether he is charting a course toward digital transformation or simply loves video games remains unclear. The stock has not been dull since he arrived.
Chewy: The Pet Paradise Cohen Built and Cashed In On
Before the meme stock craze, there was Chewy.com. Ryan Cohen co-founded this online pet supply giant with Michael Day in 2011. They were young, barely out of their teens. This reflects their ambition.
Chewy grew into a major player. In 2017, Cohen sold Chewy to PetSmart for $3.35 billion, which secured his status as a business expert. He gained a personal fortune estimated at $2.5 billion. Not bad for someone who began selling pet food online.
Bed Bath & Beyond (BBBY): A Short and Sweet (and Profitable?) Affair
Remember Bed Bath & Beyond? The land of coupons and dorm essentials? Ryan Cohen invested in that retail giant too. In March 2022, he bought a significant stake in BBBY, aiming for changes.
The romance was short-lived. Five months later, Cohen sold his entire stake. Was it strategic? A change of plans? Regardless, he reportedly made almost $60 million. A quick flip that paid off, but he still holds about 2.78 million shares of Bed Bath & Beyond Inc (BBBYQ), valued at around $219,342. He could be playing the long game.
Alibaba: Eyeing the Chinese E-Commerce Titan
Ryan Cohen’s investment interest goes far beyond pets and memes. He reportedly holds a notable stake in Alibaba, the Chinese e-commerce giant. This investment is valued at around $1 billion, or about seven million shares. It shows his vision encompasses global markets.
Apple: A Bite of the Big Apple
Following his Chewy success, Cohen didn’t hide his winnings. He made a major investment in Apple. At one time, he was rumored to be the largest individual shareholder with 1.55 million shares, which expanded to 6.2 million after a split by August 2020. That’s quite a title in the tech sector.
RC Ventures LLC: The Cohen Investment Vehicle
Supporting these ventures is RC Ventures LLC, Cohen’s investment entity. This group has significant stakes in GameStop and Bed Bath & Beyond Inc, qualifying it as a “10 percent owner” in both companies. It’s crucial for all of Cohen’s strategic investments.
Ryan Cohen’s Financial Scorecard: Net Worth and Compensation
What about numbers? Everyone wonders: how rich is Ryan Cohen?
Net Worth: A Billionaire Club Member
Get ready; Ryan Cohen’s net worth is astronomical. Projections for 2025 estimate it at around $4.6 billion USD. Forbes placed it even higher for 2024 at $4.7 billion, ranking him #949 globally. Billionaire status? Yes, please. Not bad for someone who began in pet supplies.
Salary: Working for Free?
Here’s a surprise: despite being CEO and Chairman of GameStop, Cohen reportedly has no salary for those positions. None at all. Is he in it for love of the game? Or does stock ownership provide enough compensation? It’s an unusual move for corporate heads.
Chewy Deconstructed: More Than Just Pet Food Delivery
Chewy is where Ryan Cohen made his mark, so let’s delve deeper into this pet-focused success.
Founding Story: Youthful Hustle
Chewy launched in 2011, thanks to Ryan Cohen and Michael Day, both just twenty-something entrepreneurs. They identified a gap in online pet supplies and acted. It’s a classic startup narrative: ambitious young founders with big dreams and hard work.
The PetSmart Acquisition: Cashing Out Big Time
Remember April 18, 2017? PetSmart acquired Chewy for $3.35 billion. Cohen cites it as the “high point” of his career. Such growth from scratch to billions in just six years inspires many entrepreneurs.
Independence Day: Chewy Goes Solo
Fast forward to 2020: Chewy separated from PetSmart. PetSmart distributed all Chewy shares to its shareholders. Chewy emerged as an independent public company with its own ticker. It symbolized success—a company flying solo.
Chewy’s CEO Today: Sumit Singh
While Cohen moved on, Chewy is now under the leadership of CEO Sumit Singh. While specifics on Singh’s net worth aren’t available, he earned $35 million in 2023. Leading a company Cohen founded is highly lucrative.
The Competition: Who’s Barking at Chewy’s Heels?
In the pet supply sector, Chewy’s biggest competitor is Petco. The environment is competitive. Giants like Amazon and Tractor Supply Co. also want a piece of the pet supply market. Chewy must innovate to keep its lead.
Profitability and Debt: Chewy’s Financial Health
Chewy’s financial status looks solid. In 2023, they recorded an annual gross profit of $2.834 billion. However, they do carry total debt of $0.51 billion USD as of October 2024. Managing debt with growth is a challenge for large firms.
Political Paws? Chewy’s Stance
Is Chewy entering politics? Not really. They focus on pet products rather than political views. No ideological battles here—just food and toys for pets.
Ownership: Not a Walmart Puppy
A common myth? Walmart owns Chewy. That isn’t true. Chewy operates independently and isn’t part of Walmart’s vast empire. Clear this up for your next trivia night.
Bed Bath & Beyond: From Retail Staple to Bankruptcy and Beyond
The story of Bed Bath & Beyond is a wild one. Let’s review its recent events.
Bankruptcy Blues: The BBBY Fall
After struggles spanning years, Bed Bath & Beyond filed for bankruptcy in April 2023, crashing down as a retail icon. It serves as a lesson about shifting consumer habits and possible errors in strategy.
Overstock to the Rescue (Sort Of): A Brand Resurrection?
Not so fast! The BBBY name hasn’t vanished! Overstock.com bought Bed Bath & Beyond’s trademarks during a bankruptcy auction. An unexpected twist indeed! Overstock changed its name to Beyond, Inc., adopted BBBY’s branding in October 2023.
Financial Troubles: BBBY’s Debt Load
Before going under, BBBY bore heavy debt burdens. Total debts…
The balance sheet in February 2023 showed $3.25 billion USD in debt. This figure is staggering. It creates a difficult situation in retail.
CEO Tragedy and Turmoil: A Dark Chapter
BBBY faces more trouble. CFO Gustavo Arnal died by suicide in September 2022, falling from his Manhattan apartment. This event was personal and tragic. He faced a class-action lawsuit for an alleged “pump-and-dump” scheme. Chandra Holt is now CEO. She leads after bankruptcy.
GameStop Mania: Enter Roaring Kitty and the Institutional Whales
The GameStop saga involves key players like Ryan Cohen.
Roaring Kitty: The Pied Piper of GameStop?
Keith Gill, known as Roaring Kitty, influenced the GameStop saga. Recently, he announced his updated holdings, now at 9 million shares, up from 5 million. His actions still impact GameStop, highlighting the power of social media investing.
Institutional Heavyweights: The Big Money Players
GameStop involves more than retail investors. Institutional giants are significant too. Vanguard Group Inc. holds 39.14 million shares worth over $860 million. These players add depth to the GameStop narrative.
Side Characters in the Ryan Cohen Universe: Buffett, Cohen, and More
Now, let’s mention other figures in Ryan Cohen’s story.
Warren Buffett: The Oracle of Dairy Queen
Warren Buffett owns Dairy Queen through Berkshire Hathaway. The acquisition happened in 1998. Fun fact: Buffett drives a 2014 Cadillac XTS. His style is understated.
Steve Cohen: Hedge Fund King and Mets Owner
Steve Cohen is not Ryan Cohen. He runs Point72 Asset Management. He also owns the New York Mets. A busy individual indeed.
Ryan LLC: A Different Kind of Ryan in Finance
Ryan LLC is a CPA firm started by G. Brint Ryan and Chris F. Collis in 1991. Ares Management invested in it recently, raising its value to $2.5 billion. The “Ryan” name continues to create confusion.
Ryan Kaji: Kid Millionaire YouTuber
Ryan Kaji is another success story. He became a millionaire at age six through his YouTube channel. This proves success can come at any age.
Point72 Asset Management: Location, Location, Location
Point72 is Steve Cohen’s firm. Its name comes from the address: 72 Cummings Point Road in Stamford, Connecticut. Naming can be straightforward.
Chewy vs. Amazon: David vs. Goliath in the Pet Space?
Now, let’s return to Chewy and its main rival, Amazon.
Taking on Amazon: Cohen’s Bold Move
Ryan Cohen aimed to challenge Amazon with Chewy in pet supplies. He succeeded in establishing a strong presence. It’s a classic David versus Goliath tale.
Acquisition Rumors: Did Amazon Ever Buy Chewy?
Despite competition, Amazon did not acquire Chewy. Chewy remains independent. It has thrived despite being near giants. Specialization can lead to success.
Ryan Cohen continues to evolve the pet industry and stock market dynamics. He remains a prominent force. Keep watching—his story unfolds further.
