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What would you do if you had an extra day each week? Hedge-fund titan and billionaire New York Mets owner Steve Cohen is betting that, if you\u2019re part of a certain income bracket, you\u2019ll be on the putting green.\u00a0<\/p>\n
Cohen believes a four-day workweek is imminent<\/a>, he told Andrew Ross Sorkin on Wednesday during a CNBC Squawk Box appearance<\/a>, and as a result, he\u2019s making large investments in golf.\u00a0<\/p>\n In envisioning a free Friday, leisure activities (namely golf), has become a prime focus. If people end up having more time to themselves, \u201canything around\u2026leisure, travel, experiences,\u201d would all make for strong investment areas, Cohen said.\u00a0<\/p>\n During the pandemic, Cohen purchased 95% ownership<\/a> of the New York Mets for $2.4 billion, which is the largest-ever sale in Major League Baseball. Now, he\u2019s deepening his well. Last September, acquired the rights<\/a> to a New York-based team in TGL, a high-tech golf league founded by Rory McIlroy and Tiger Woods. And in January of this year, Cohen\u2014with a group of fellow billionaire sports team owners\u2014invested a reported $3 billion<\/a> into the PGA Tour.\u00a0<\/p>\n Even if rapid AI proliferation<\/a> weren\u2019t leading to what he believes will be the end of the four-day in-office workweek, \u201cI think I would have done the golf investment anyway, because I think there\u2019s a longer-term thought,\u201d Cohen said. Even so, Cohen\u2019s golf investments, he told Sorkin, \u201cshould fit into a theme of more leisure.\u201d More leisure means more golf rounds, he added. \u201cI guess courses will be crowded on Fridays.\u201d<\/p>\n This Fridays-off future may be closer than it seems. Friday is consistently the emptiest day at most offices, by far, even now. Steven Roth, the billionaire chairman of commercial landlord Vornado, said last year Fridays are \u201cdead forever\u201d<\/a> and Mondays might follow soon behind. Some forward-thinking companies have already banned meetings and deadlines<\/a> after close of business Thursday, after which productivity drops off generally.\u00a0<\/p>\n Not at Point72, if Cohen can help it. If his fund managers start taking off Fridays even when the market is open, \u201cthat\u2019s a problem,\u201d Cohen said. On this point, Cohen\u2019s with other finance bigwigs<\/a> who usually oppose any diversion from the workplace norm.\u00a0<\/p>\n But the vast majority of those not on Wall Street \u201cwill get an opportunity, I think, at some point, to have a three-game weekend,\u201d Cohen predicted. Time to practice your swing.<\/p>\n<\/div>\nSubscribe to the CEO Daily newsletter to get the CEO perspective on the biggest headlines in business. Sign up<\/a> for free.<\/div>\n<\/div>\n