Betsy Cohen’s independent thinking has netted her a fortune that Forbes estimates at $230 million, based on calculations and estimates of her previous exits, cash earnings and stakes in The Bancorp and recent SPAC listings.
n the summer of 1965, 25-year-old Betsy Cohen was wrapping up her internship at a prestigious Philadelphia-based law firm and entering her final year at the University of Pennsylvania Law School. A top student who had excelled in the job, Cohen might have expected to be offered a full-time position. There was just one problem: She was a woman.
“What I've done is a series of opportunities, as opposed to a cookie cutter career, because nobody else was guiding me,” reflects Cohen, who’s now 80 years old, on her career. “From the time I was about three, I was my own person—my parents would attest to that.” “Betsy is truly the epitome of self-made success,” says Karen Lynch, CEO of CVS Health, who met Cohen while serving as president of insurer Aetna from 2015 until 2021. . “And she has defined grace under pressure [over her career].”
“There was no work-life balance, she just had to do everything,” remembers Daniel Cohen, the eldest of her three children. Jefferson Bank, which she’d grown into a $1.8 billion institution and Philadelphia’s largest locally owned community bank, to Hudson United Bancorp of New Jersey for $337 million. She and her husband, who was also a shareholder, netted an estimated $50 million in after-tax proceeds.
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