Ryan Cohen
Source of wealth: Investments
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Modules
Biography
Ryan Cohen is the former CEO of online pets supplies store Chewy, which he cofounded in 2011.
Cohen grew the business to $3.5 billion in annual revenues and stepped down in 2018 after selling it to PetSmart for $3.4 billion in 2017.
At the end of 2020, Cohen spent about $76 million buying a 13% stake in GameStop while urging management to restructure the ailing brick-and-mortar.
He joined GameStop's board in January 2021 and his fortune surged that month after Reddit traders coordinated a massive surge in the stock's price.
The son of a teacher and a glassware importer, Cohen started his first business at the age of 15, collecting fees off referrals to e-commerce sites.
Financial Assets
The Great Lie of Mega-Fortunes: The Case of Ryan Cohen
Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.
The immense fortune of Ryan Cohen, linked to Finance & Investments and 'Investments', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 35 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 2.2 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.