- Dumb Money is a movie based on the true story of the GameStop short squeeze that was orchestrated by online retail investors on Reddit’s WallStreetBets page. It depicts the involvement of billionaire hedge fund manager Steve Cohen and the impact of the short squeeze on Wall Street.
- The film portrays Keith Gill as a key figure in predicting the short squeeze. Gill, a family man from Massachusetts, played a significant role in the movement that involved hundreds of thousands of online retail investors who made large investments in GameStop.
- Despite his involvement in the GameStop event, Steve Cohen remained one of the wealthiest individuals globally. He received death threats following the short squeeze but continues to be the owner of the New York Mets, a political donor, philanthropist, and prolific art collector.
Steve Cohen, one of the billionaire antagonists in Dumb Money, is depicted as having a large pig for a pet in the new GameStop short squeeze movie. Directed by Craig Gillespie (I, Tonya), Dumb Money follows the true story the the unprecedented group of retail investors who banded together on a popular Reddit page to pull off an unprecedented short squeeze against major hedge fund Melvin Capital. Steve Cohen, a multi-billionaire hedge fund manager and owner of the New York Mets baseball team, played a huge role in helping Melvin Capital with financial aid.
Dumb Money closely follows the rare GME short squeeze phenomenon through the eyes of its apparent leader Keith Gill, a humble family man living just outside Boston, Massachusetts who was one of the first people to predict the squeeze. The actual movement involved hundreds of thousands, and potentially millions, of online retail investors, many of whom placed large investments on GameStop “stonk” through a shared allegiance formed on the Reddit page Wall Street Bets. Dumb Money is a real-life David and Goliath story that ultimately changed the “too big to fail” Wall Street hedge funds in permanent ways.
Dumb Money tells the incredible true underdog story of Keith Gill and the unprecedented GameStop short squeeze but leaves some key details out.
Steve Cohen Did Have A Pet Pig Named Romeo Like In Dumb Money
One of the biggest headscratcher moments of Dumb Money was the scene early on in the film that showed a massive pig walking around billionaire Steve Cohen’s large Connecticut mansion. Cohen, whose estimated net worth in 2024 is roughly $20 billion, once purchased a piglet named Romeo as a pet for his seven children years ago. Eventually, Romeo the pig was considered to be a part of the Cohen family and matured to be an enormous pig as depicted in Dumb Money, weighing more than 150 pounds.
Although Steve Cohen did house Romero for quite some time, the pig ultimately became too large and reportedly “moody” to continue living there, according to Page Six. A source close to the Cohen family said, “The family got advice from a vet that Romeo would be better in the company of other animals, so Steve arranged for him to go to a farm to be with other pigs.” This all occurred in 2015, meaning that Romeo was actually not in the picture during the GameStop short squeeze in 2020 and 2021.
Craig Gillespie’s Dumb Money is currently streaming on Netflix, with a variety of fun songs on its soundtrack that add to the humor and entertainment.
What Happened To Steve Cohen After The GameStop Event
Following his involvement in helping Gabe Plotkin and Melvin Capital stay afloat for some time during the GME short squeeze, Steve Cohen continues to be one of the wealthiest people on the planet. Cohen, who is portrayed by Vincent D’Onofrio in Dumb Money, received a large amount of death threats after the short squeeze. Today, Cohen maintains his role as the owner of the New York Mets, a political donor, philanthropist, and a prolific art collector whose collection is estimated to be worth more than $1 billion.
Source: Page Six
Based on the Novel “The Antisocial Network” by Ben Mezrich, Dumb Money is an upcoming film adaptation that explores the story of the GameStop short squeeze that confounded Wall Street. When a small group of investors and group of users from a Reddit subgroup called WallStreetBets find a loophole in the system, chaos ensues when they enact a short squeeze that sends one of the most powerful hedge funds scrambling for solutions to a chaotic time in Wall Street’s history. The film has recently signed on the likes of Sebastian Stan and Seth Rogan to star in unannounced roles for the film and is expected to start production in late 2022.
- Release Date
- September 15, 2023
- Craig Gillespie
- Paul Dano , Pete Davidson , America Ferrera , Nick Offerman , Anthony Ramos , Sebastian Stan , Shailene Woodley , Seth Rogen , Dane DeHaan , Myha’la Herrold , Talia Ryder , Clancy Brown , Kate Burton , Larry Owens , Olivia Thirlby , David Faber
- 104 Minutes
- Lauren Schuker Blum , Rebecca Angelo , Ben Mezrich
- Craig Gillespie, Aaron Ryder, Teddy Schwarzman
- Production Company
- Black Bear Pictures, Ryder Picture Company
- Columbia Pictures , Black Bear Pictures
- Sony Pictures Releasing