Billionaire Steve Cohen invests big in golf as he sees 4-day workweek due to AI

Billionaire Steve Cohen

Billionaire hedge fund manager Steve Cohen made big investments in golf as he sees four-day work week as a reality due to artificial intelligence.

During his first-ever interview on CNBC, the founder of $32-billion Point72 Asset Management and owner of the New York Mets said, “My belief is that a four-day work week is coming. That fits into a theme of more leisure for people.”

Does that mean employees in his firm will get to enjoy a four-day work week soon? “Taking off Friday when you have a portfolio — that would be a problem,” the billionaire said.

An avid golfer, Cohen said there were several reasons leading the world towards a reduced work week, including AI and hybrid work that has led to “less productive Fridays”.

Recently, he was part of a group that agreed to invest up to $3 billion in a PGA-controlled commercial entity, which will provide equity stake to players. Several other investors including Saudi Arabia’s Public Investment Fund are also a part of discussions to invest. He is also a team owner in a simulator-based golf league funded by Tiger Woods and Rory Mcllroy.

With inputs from Bloomberg