Billionaire Hedge Fund Manager Pledges $275 Million To Help Military Veterans Get Free Mental Health Care
Steven A. Cohen is one of the richest hedge fund managers in America. He’s estimated to be worth about $12.7 billion by Forbes, making him the 30th richest person in America. A household name in the finance industry, he’s the founder of SAC Capital Advisors (…they rebranded after settling an insider trading scandal with the SEC for $1 billion). He’s also a minority owner of the New York Mets. In addition to a massive collection of mansions around the United States, he also bought Picasso’s famous painting, Le Reve, for US$150 million a few years back. It’s very obviously one of the main inspirations behind Bobby Axelrod, Damian Lewis billionaire character on Showtime’s Billions.
He’s very rich. And today he pledged to spend a significant chunk of money on the most worth cause to date: Helping military veterans get the mental health services they so desperately need access to.
According to Business Insider, Cohen is pledging $275 million to open mental-healthcare clinics around the country that will treat veterans for free. For Cohen, it’s personal: His son served in the Marine Corps and is currently serving in the Reserves.
In a statement released by the The Cohen Veterans Network, he points out that over 2.6 million men and woman have served in the military over the past 14 years of war in Afghanistan and Iraq.Cohen adds that “20 percent experience some form of PTS and traumatic brain injury (TBI) while 40 percent of returning veterans who suffer from mental health issues do not seek treatment.” Via:
“The wounds of war are serious. It is not easy to serve your country in combat overseas and then come back into society seamlessly, especially if you are suffering,” Mr. Cohen said. “These men and women have paid an incredible price and it’s important that this country pays back that debt.”
“We will treat anyone who served in the U.S. Armed Forces during the War on Terror. If you wore the uniform, and you need help, you are welcome at Cohen Veterans Network – period,” Mr. Cohen said.
To meet this significant need, the Cohen Veterans Network will open 20-25 clinics over the next three to five years, representing a $275 Million commitment from Mr. Cohen. The first four Steven A. Cohen Military Family Clinics will be open by this July, located in New York, Dallas, San Antonio, and Los Angeles, with a fifth projected for Philadelphia. CVN plans to open five additional clinics in the spring of 2017.
It doesn’t just stop with the $275 million pledge, however. He’s also donating $30 research programs with New York University and Columbia University to greater understand PTSD and it’s treatment. He adds:
“People don’t hesitate to seek treatment for wounds they can see,” Mr. Cohen said, “but PTS and the other invisible wounds of war carry a stigma. We’re going to change that conversation and fight against the stigma that stands in the way of treatment.”
Everything about this is the very definition of a Bro move. Hats off to Cohen.