Behind every billionaire there is a story!

Cohen Pledges $50 Million to Children’s Hospital

Despite fears of recession looming, the hedge fund manager Steven A. Cohen doesn’t seem to be hurting too much.

The head of SAC Capital and his wife, Alexandra, pledged $50 million to build a new emergency pediatric care facility for the Morgan Stanley Children’s Hospital in Manhattan’s Washington Heights.

The new 25,000 square-foot facility, expected to be completed in two-to-three years, will offer world class emergency care to all children including those from the poorest and most underserved areas of the city, according to a statement by the hospital.

The gift, being made through the Steven A. and Alexandra M. Cohen Foundation, will quadruple the space for the department, the hospital said.

read the rest published by NY Times here:

http://dealbook.blogs.nytimes.com/2008/01/24/cohen-pledges-50-million-to-childrens-hospital/?scp=1-b&sq=sac+cohen&st=nyt