Get hand-picked stories from our editors delivered straight to your inbox every day.<\/p>' The third of seven children, Cohen, 63, grew up with the same preoccupations as any average kid in middle-class Great Neck, LI: escape and baseball. var c = ca[i]; Courtesy of Sothebys. 'cag[type_tag]' : 'Wealth' , }; })(); artnet and our partners use cookies to provide features on our sites and applications to improve your online experience, including for analysis of site usage, traffic measurement, and for advertising and content management. (function() { }); signedUp: { } mps.insertAd("#" + slotid, adunit) Hedge-fund billionaire Steve Cohen has purchased a Roy Lichtenstein painting for $165 million. When you go to his home, you just see museum quality and beyond, incredible art you just dont find in private homes.. Officials at Deutsche Bank pulled back on its business and personal ties to Mr. Cohen after his former hedge fund, SAC Capital Advisors, agreed to plead guilty to insider trading charges [and] pay $1.8 billion in penalties to the federal government.. url: $form.attr('action'), Cait Munro, if (window.top !== window.self) { !e;this.xhrGuids&&this.xhrGuids[n]&&(delete this.xhrGuids[n],this.totalCbs-=1)}),f.on("addEventListener-end",function(t,e){e instanceof m&&"load"===t[0]&&f.emit("xhr-load-added",[t[1],t[2]],e)}),f.on("removeEventListener-end",function(t,e){e instanceof m&&"load"===t[0]&&f.emit("xhr-load-removed",[t[1],t[2]],e)}),f.on("fn-start",function(t,e,n){e instanceof m&&("onload"===n&&(this.onload=!0),("load"===(t[0]&&t[0].type)||this.onload)&&(this.xhrCbStart=a.now()))}),f.on("fn-end",function(t,e){this.xhrCbStart&&f.emit("xhr-cb-time",[a.now()-this.xhrCbStart,this.onload,e],e)})}},{}],16:[function(t,e,n){e.exports=function(t){var e=document.createElement("a"),n=window.location,r={};e.href=t,r.port=e.port;var o=e.href.split("://");!r.port&&o[1]&&(r.port=o[1].split("/")[0].split("@").pop().split(":")[1]),r.port&&"0"!==r.port||(r.port="https"===o[0]? News stories that circulated in . }, $modal.css({ Photo: patrickmcmullan.com Hedge fund manager Steve Cohen has used artworks from his $1 billion collection to back a personal loan from Morgan Stanley's Private Bank. /** el.parentNode.insertBefore(s, el); Inside Billionaire Steve Cohens Comeback, a Christies executive quoted in the New York Times. } Cohen was born in 1962 in Johannesburg, South Africa and lives in Lille, France. Many consider Steve Cohen a financial genius. //default prefix is 'artnet_newsletter_' REUTERS/Brendan . The world's top, private art collection belongs to David Geffen, the music and entertainment mogul. console.log('PUB-GDPR-CHECK'); + '
' ); 'cag[attribution_source]' : 'CNBC US Source' , console.log('PUB-GDPR-CHECK Blocked Categories: ', blockedCategories); In February 2020, the infamous short seller woke up in a cold sweat when he realized the pandemic might spell pandemonium on Wall Street, as Liz Hoffman writes in her forthcoming book. Cohen purchased it in 2004, for a price variously reported between $8 million and $12 million; he subsequently paid Hirst to replace the original shark, which had deteriorated over the years. Plotkin, just 35, had been a Cohen protg for a decade and managed $1.2 . Both friends and critics of Cohen see his continued art buying as a sign of just how little the shutdown of his fund, and Cohens own temporary ban from managing clients money, has affected him financially. What you may not know is that Cohen is also quite the art connoisseur. var cookieNames = ['recentlyShown', 'signedUp', 'closedSignupBar','signup_cookie']; Artsy Consignments. Hedge fund manager Steve Cohen has usedartworks from his $1 billion collection to back a personal loan from Morgan Stanleys Private Bank. His art collection, rumored to top $1 billion in value, is impressive, to say the least. All rights reserved. Its part of a crowded collection of art that Cohen rotates among Point72s offices. 'cag[related_primary]' : 'Wealth|Billionaires|Inside Wealth|Inside Wealth: People|Inside Wealth: Spending|Alternative Investing: Fine Art' , if (!o[this.name].push) { Then there is the campaign his ex-wife has launched against him, accusing him of being a liar and thief who hid assets from her in their divorce. } To revist this article, visit My Profile, then View saved stories. return; By }); return c.substring(name.length,c.length); His collection of paintings and sculptures by Picasso, Andy Warhol, Jeff Koons and other celebrated artists is valued at an estimated $1 billion. var initOuibounce = setInterval(function() { Wealth-X said Geffen has $1.1 billionor a fifth of his $5.5 billion fortunein his art collection. setTimeout(function(){ (l[h]("DOMContentLoaded",i,!1),p[h]("load",r,!1)):(l[m]("onreadystatechange",o),p[m]("onload",r)),c("mark",["firstbyte",s],null,"api");var E=0,O=t(23)},{}]},{},["loader",2,15,5,3,4]); + '
' Meantime, Cohen's art collection is worth an estimated $1 billion and includes a $14.3 million Alberto Giacometti sculpture, "Man Pointing," plus the artist's "Chariot," for which he . return Object.values(OneTrustCategories).filter((c) => blockedCategories.includes(c)).length > 0; Steve Cohen on Life, Love, His Art Collection, and Those Pesky Insider-Trading Rumors. Jun 8, 2015, By })(); We've received your submission. if (!oneTrustCookie) return true; var ctx = this; var expirationMinutes = settings.expiration_minutes; $('body').append(signup); if ($modal.hasClass('slideInDown')) return; loadFontAwesome: false + '<\/form>' Art critic Robert Hughes, in a 2004 speech at Britains Royal Academy, called the piece a symbol of the cultural obscenity of the international art market. 'adunits' : 'Top Banner|Badge A|Badge B|Badge C|Badge D|Flex Ad First|Box Ad 1|Non Iframe Custom|Inline Custom|Movable Box Ad|Responsive Rectangle' , // =================================================================== Photograph by Gillian Laub Not that Cohen's charitable efforts interfere with his . // don't show it on paywall-related pages where the user might be in the process Now, Cohen says, he likes to play a game with guests who view the painting in his home: I always ask them to try to figure out where the hole is, and theres no way they can figure it out, he says. return '' }; function addCss(fileName) { onSuccess(); But he was dinged with $1.8 billion in fines and banned in 2016 by the Securities and Exchange Commission from managing hedge funds for two years. var ca = document.cookie.split(';'); if (typeof mps.getAd != "function") mps.getAd = function(adunit) { An early purchase was Edouard Manet's 1878 "Self Portrait with a Palette" which came from the collection of Las Vegas casino developer Steve Wynn. Offers may be subject to change without notice. o[this.name] = this.value || ''; Considered by many to be one of the most prestigious art collectors on the globe, Steve Cohen is a wealthy buyer who spent hundreds of millions dollars on his quest of creating an incredible collection. Rotated among those offices about once a quartera process that starts in the afternoon and can take all nightthe art is so casually placed throughout the halls that employees occasionally brush up against it absentmindedly; one executive recently dropped her ID badge into one of the sculptures accidentally. 2023 Artnet Worldwide Corporation. script.src = "https://code.jquery.com/jquery-3.1.1.min.js"; NSFW: All the artwork in Steve Cohen's new $33.5M condo listing is censored Hedge funder's art collection is intentionally blurred out in listings pictures of his West Village "art gallery" condo Cohen is known for his philathropy and his extensive art collection, which is reportedly valued at over $1 billion. )In only the second published interview the secretive trader has ever given in his illustrious but often controversial 30-year career, Cohen opened up to special correspondent Bryan Burrough about these and other matters for the July issue of Vanity Fair, including: The meaning that his art collectionwhich includes masterworks by Warhol, Picasso, Czanne, de Kooning, Damien Hirst, Francis Bacon, Jeff Koons, and Gerhard Richterand his favorite painting in particular have for him. var _qs = window.location.href; while (i--) { if (cEnd === -1) { He has one of the most expensive private art collections in the world. if (typeof adunit != "string") return false; Jan 20, 2016, By }; $email.focus(); if (typeof ouibounce !== 'undefined') { + ' @media (max-width: 767px){ .close-signup {top:0 !important;} }' (function defernl() { var d = new Date(); document.getElementsByTagName("head")[0].appendChild(script); Of all SAC's portfolio managersand there were over 100 at timesonly ten or 15 were "the real moneymakers.". The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. He parlayed that into a gig at New Yorks now-defunct Gruntal & Co. brokerage firm where he turned in an $8,000 profit on his first day, according to a second New Yorker profile. mps.__timer = Date.now ? + '