Ryan Cohen is a Canadian entrepreneur and activist investor who founded the online pet retailer Chewy and became the executive chairman of GameStop. He is known for his visionary leadership, his passion for e-commerce, and his involvement in one of the most significant stock market events of 2021. This content will explore Ryan Cohen’s net worth, wiki, biography, age, height, and career.
Ryan Cohen Net Worth
Ryan Cohen has a net worth of $3.3 billion as of September 17, 2021. Most of his wealth comes from his stake in Chewy, which he sold to PetSmart for $3.35 billion in 2017 and went public in 2019 at a valuation of $8.7 billion. He also owns a significant stake in GameStop, which he bought for about $76 million in 2020 and saw its value skyrocket in 2021 due to a massive short squeeze fueled by Reddit traders. He also owns shares in Apple and Alibaba.
Wiki
Ryan Cohen was born in 1985 or 1986 (age 37–38) in Montreal, Quebec, Canada. He is the son of Louise and Ted Cohen, who ran a glassware-importing business. He has a younger brother named Michael David (aka Spider One), the lead singer of the rock band Powerman 5000. He grew up loving animals and had a poodle named Tylee.
He never attended college and dropped out of high school to pursue his entrepreneurial dreams. He moved to Florida at 22 and started Chewy with his friend Michael Day in 2011. He married Lisa Chang in 2018, and they have a daughter named Chloe. They live in Bal Harbour, Florida.
Biography
Ryan Cohen started his first business at 15, collecting fees from referrals to e-commerce sites. His father inspired, taught him business basics, and encouraged him to follow his passion. His father died of cancer in December 2019.
In 2011, he founded Chewy under its original name, MrChewy, with his friend Michael Day. The idea came from his frustration with shopping for his poodle Tylee at local pet stores. He wanted to create an online platform that offered a wide selection of products, fast delivery, and excellent customer service for pet owners.
He faced many challenges and rejections from investors and competitors in the beginning. He said he approached over 100 venture capital firms and was turned down by all of them. He also had to deal with lawsuits from PetSmart and Petco, who accused him of trademark infringement and false advertising.
He persevered and eventually secured funding from Volition Capital in 2013 for $15 million. He then raised more capital from investors like BlackRock and T. Rowe Price New Horizons Fund. He grew the company to $900 million in sales by 2016 and became the number one online pet retailer in the U.S.
In 2017, he sold Chewy to PetSmart for $3.35 billion, the largest e-commerce acquisition. He remained the CEO until 2018 and grew the company to $3.5 billion in revenue that year. He left the company to pursue personal goals and spend time with his family.
In June 2019, Chewy went public at a valuation of $8.7 billion. Cohen still owns about 10% of the company’s shares.
In late 2020, Cohen bought a 13% stake in GameStop, a struggling video game retailer facing bankruptcy due to the rise of digital downloads and online streaming. He wrote a letter to the board of directors urging them to transform the company into a technology-driven e-commerce platform that could compete with Amazon and other rivals.
In January 2021, he joined the GameStop board along with two former Chewy executives. His appointment triggered a massive rally in the stock price, which increased by more than 1,500% within two weeks. The surge was partly driven by a short squeeze orchestrated by Reddit users who supported Cohen’s vision for GameStop and wanted to punish hedge funds betting against the company.
Since then, Cohen has been instrumental in making several changes at GameStop, such as the departure of multiple executives and board members, hiring new leaders from Amazon and Chewy, and launching new initiatives to improve the customer experience and expand the product offerings. He became the executive chairman of GameStop in June 2021.
Age and Height
Ryan Cohen is currently 37 or 38 years old. He was born in 1985 or 1986.
Ryan Cohen’s height is not publicly known. However, based on his photos with other people, he appears to be of average height.
Career
Ryan Cohen’s career can be summarized as follows:
- He is the founder and former CEO of Chewy, an online pet retailer that he sold to PetSmart for $3.35 billion in 2017 and went public in 2019 at a valuation of $8.7 billion.
- He is the executive chairman of GameStop, a video game retailer he invested in in 2020. He helped transform into a technology-driven e-commerce platform that saw its stock price soar in 2021 due to a short squeeze fueled by Reddit traders.
- He is an activist investor who has a stake in Apple and Alibaba.
- He is a philanthropist who has donated to various causes and organizations, such as the Humane Society of the United States, St. Jude Children’s Research Hospital, and the American Cancer Society.
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