Steve Cohen expects shift toward 4-day workweek, investing in golf course projects
(MENAFN) Renowned American billionaire Steve Cohen, founder of Point 72 Asset Management and owner of the New York Mets, recently shared his perspective on the future of work during his first interview with CNN. Cohen expressed his belief that the traditional five-day work week will gradually give way to a four-day work week, citing reasons such as advancements in artificial intelligence and the growing prevalence of hybrid work arrangements. He emphasized that reducing the number of weekly working days could enhance employee well-being and provide more opportunities for leisure and entertainment.
As an avid golf enthusiast himself, Cohen sees the shift towards a shorter work week as conducive to promoting activities like golf, which require time and dedication. He pointed out that the increasing adoption of hybrid work models, where employees split their time between office and remote work, often results in many individuals not working on Fridays. Consequently, the weekend is effectively extended to include Friday, Saturday, and Sunday, allowing for more leisure activities.
Cohen's investment decisions also reflect his vision for the changing dynamics of work and leisure. He recently invested in golf course projects, recognizing the potential synergy between the trend towards shorter work weeks and the demand for recreational activities like golf. One of his notable endeavors includes a consortium investment of up to USD3 billion in an entity controlled by BP. Gee. Oh, Tor. This initiative, which involves various investors including billionaire Marc Lasry and Milwaukee Brewers owner Mark Attanasio, aims to establish a new business entity that offers equity stakes to select players. Moreover, discussions are underway for the Saudi Public Investment Fund to potentially join this venture, as per insider sources.
Cohen's perspective and investment activities underscore the evolving landscape of work and leisure in the modern era. As societal norms and technological advancements reshape traditional work structures, individuals and businesses alike are adapting to new paradigms that prioritize flexibility, well-being, and leisure pursuits.
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