Ryan Cohen Net Worth 2023: Exploring The Fortune Of The New GameStop CEO

Ryan Cohen is a well-known slot pragmatic Canadian entrepreneur and investor. Ryan Cohen was born into a Jewish family in Montreal in 1985 and later in 2011 founded the e-commerce company Chewy. He remained the CEO of the company till 2018 and is currently serving as the CEO of GameStop.

Born in a Jewish family his father ran a glassware company and he is often quoted by Cohen as a source of inspiration in pursuing the entrepreneurial path. Ryan Cohen never attended college just like his father who died in 2016.

Ryan Cohen, The Founder of Chewy

Cohen started his business career at the tender age of 15 when he started collecting fees for referrals to various e-commerce sites. As already mentioned he started the e-commerce company Chewy in 2011 when he was only 25 years of age.

The company was originally named MrChewy which was later rechristened Chewy. His father Ted Cohen who ran a glassware importing business was his inspiration and mentor. His experience of shopping for his poodle Tylee also kept him in steed and helped him in his business ventures. He gained a keen intuition in picking the right category for his business ventures.

Cohen reminisces that when he needed capital for his business venture he approached more than 100 venture capital firms with no success. His first break came when he got funding from Volition Capital for $15 million.

More success followed and in 2016 he was rolling in funds obtained from big names such as BlackRock and T. Rowe Price New Horizons Fund. The same year the sales of the company touched $900 million and it became the number 1 online pet retailer. In 2017, he raised $350 million and was preparing for an IPO.

Chewy was purchased by PetSmart in April 2017 for $3.35 billion in what was dubbed as the biggest e-commerce acquisition of all time. In 2017 Cohen featured in the Fortune to 40 entrepreneurs at 40 years of age. He also figured in the Recode 100 list by Vox.

Cohen continued as the CEO even after PetSmart acquisition and ran the business as a separate entity.

Before stepping down he boosted the revenue of the firm to 3.5 billion in revenue. He said that he wanted to pursue his personal goals as the reason for stepping down as the CEO and devote more time to his family. In June 2019, Chewy went public at a valuation of $8.7 billion.

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Ryan Cohen Taking Over As GameStop’s New CEO

In January 2021, Cohen along with two Chewy executives came onto the board of GameStop. He was entrusted with the task of leading as a newly appointed chairman, a new committee entrusted with the wide transformation of the company.

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His appointment had a positive impact and it led to a massive stock rally; within two weeks the stock had increased by 1,500% resulting from a short squeeze.

Cohen initiated massive changes in the structure and the running of GameStop. He removed multiple executives and ten members of the board of directors and brought in multiple Amazon and Chewy executives in top echelons of the company and he became chairman following the annual shareholder meeting. Finally, on September 28, 2023, it was announced that Cohen took over as Chief Executive Officer of GameStop and he also refused salary for his job.

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How Much Is Ryan Cohen’s Net Worth In 2023?

The estimated net worth of Ryan Cohen is at least $621 Million dollars as of 2023-09-29. Post sale of Chewy, Cohen made a huge investment in Apple and became the largest individual shareholder of the tech company with 1.55 million shares.

Cohen’s investments also included a 10% stake in GameStop and later it surged to 12.9% on December 17, 2020. Cohen also had a 10% stake in Bed Bath & Beyond and later sold it, totaling 9.45 million shares, and earned a profit of $68 million.

Wiki Biodata

Born 1985 or 1986 (age 37–38)
Father’s Name Ted Cohen
Education High School
Place of Birth Montreal, Quebec, Canada
Occupations Entrepreneur activist investor
Known for   Founder and CEO of Chewy (2011–2018) Executive Chairman of GameStop (2021–present)

FAQs

What is Ryan Cohen’s estimated net worth in 2023?

Ryan Cohen’s estimated net worth in 2023 is at least $621 million. He made significant investments in companies like Apple and GameStop, becoming the largest individual shareholder in Apple and holding a notable stake in GameStop.

How did Ryan Cohen impact GameStop?

Ryan Cohen’s appointment to GameStop’s board and later as Chairman led to a significant stock rally, with shares increasing by 1,500% within two weeks. He initiated major changes in the company’s leadership and strategy.


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