Hedge fund billionaire and New York Mets owner Steve Cohen left twitter after GameStop backlash

<p><img src="https://static1.businessinsider.com/image/6015a0a3d6c5e60019c6e1a0-2400/2020-09-14T222608Z_1_LYNXMPEG8D248_RTROPTP_4_HEDGEFUNDS-SAC.JPG" border="0" alt="steve cohen" data-mce-source="Steve Marcus/Reuters" data-mce-caption="FILE PHOTO: Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, responds to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada May 11, 2011."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Steve Cohen, the<a href="https://www.businessinsider.com/steve-cohen-net-worth-billionaire-house-real-estate-career-mets-2019-12">hedge-fund billionaire</a> and owner of the New York Mets, has deactivated his Twitter account, saying on Saturday his family received threats amid a Reddit-fueled buying frenzy of GameStop stocks.</p><p>"I've really enjoyed the back and forth with Mets fans on Twitter which was unfortunately overtaken this week by misinformation unrelated to the Mets that led to our family getting personal threats," <a href="https://www.mlb.com/mets/press-release/press-release-statement-from-steve-cohen't=mets-press-releases">Cohen wrote in a press statement.</a> "So I'm going to take a break for now. We have other ways to listen to your suggestions and remain committed to doing that."</p><p>Cohen and his $17.2 billion-worth hedge fund Point72 Capital came under scrutiny for their involvement with Melvin Capital Management, another hedge fund that betted against GameStop and the <a href="https://www.businessinsider.com/robinhood-new-details-limit-trading-deposit-requirements-2021-1">Robinhood frenzy.</a></p><p>Point72 <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-traders-reportedly-driven-loss-steve-cohens-fimr-point72-2021-1-1030015737#:~:text=According%20to%20a%20New%20York,to%20the%20GameStop%20feeding%20frenzy.">lost nearly 15% this year</a> as individual investors drove the videogame retailer's shares up. The company's losses are predominantly a result of its <a href="https://nypost.com/2021/01/30/mets-steve-cohen-explains-twitter-exit-amid-gamestop-saga/">$2.75 billion investment</a> in Melvin Capital.</p><p>On Thursday, Barstool Sports' founder Dave Portnoy got into a Twitter argument with Cohen and slammed the Mets owner for helping Melvin Capital <a href="https://www.dailymail.co.uk/news/article-9198961/Billionaire-Mets-owner-Steve-Cohen-slammed-team-fans-critics-GameStop-fiasco.html">buffer its losses.</a></p><p>"You bailed out Melvin cause he's your boy along with Citadel. I think you had strong hand in today's criminal events," <a href="https://twitter.com/stoolpresidente/with_replies">Portnoy tweeted at Cohen.</a></p><div><blockquote class="twitter-tweet" data-lang="en" data-cards="" data-conversation=""><p lang="en" dir="ltr">Only absolute assholes threaten family and children. But that doesnt change the fact it would be idiotic not to question Steve Cohens involvement in the <a href="https://twitter.com/search'q=%24gme&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$gme</a> fiasco. His career and ties to the major players involved demand it. He unequivocally denied it. So has everybody <a href="https://t.co/HeHDyoy3BC">https://t.co/HeHDyoy3BC</a></p> Dave Portnoy (@stoolpresidente) <a href="https://twitter.com/mims/statuses/1355552125032476682'ref_src=twsrc%5Etfw">January 30, 2021</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></div><p></p><p>In response to critics, Cohen denied his involvement with brokers that halted trading and enforced buying restrictions. He told Portnoy that he's "just trying to make a living."</p><p>Cohen's Twitter account was deactivated <a href="https://www.dailymail.co.uk/news/article-9204157/GameOver-Hedge-fund-boss-Mets-owner-deletes-Twitter-account-Reddit-backlash.html">on Friday night.</a></p><p>"I love our team, this community, and our fans, who are the best in baseball," <a href="https://www.mlb.com/mets/press-release/press-release-statement-from-steve-cohen't=mets-press-releases">Cohen wrote in the press statement.</a> "Bottom line is that this week's events in no way affect our resources and drive to put a championship team on the field."</p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/heres-what-happening-inside-some-gamestop-stores-across-the-country-2021-1" >Some GameStop store employees are getting investing questions and criticism from customers over the company's volatile stock and they're in the dark about how to handle it</a></strong></p><p><a href="https://www.businessinsider.com/hedge-fund-billionaire-and-new-york-mets-owner-left-twitter-after-gamestop-backlash-2021-1#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/london-streets-left-deserted-during-covid-19-lockdown-2020-3">Inside London during COVID-19 lockdown</a></p>
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