Skip To Content
JEWISH. INDEPENDENT. NONPROFIT.
Breaking News

Jewish Hedge Fund King Steven Cohen Buys Famed Picasso Painting for $155M

Hedge fund manager Steven A. Cohen has bought a famous Picasso painting from casino mogul Steve Wynn for a record price, according to a report in the New York Post on Tuesday.

Image by wikipedia

Cohen, who runs $15 billion hedge fund firm SAC Capital Advisors, purchased “Le Rêve,” a 1932 oil painting of Picasso’s mistress, for $155 million, the New York Post said, citing an unnamed source.

The Post reported it is the highest price a U.S. collector ever paid for an artwork.

Cohen and Wynn, who are both billionaires and well-known art collectors, have a history with this particular Picasso painting.

In 2006, Wynn put his elbow through the canvas of “Le Rêve” while showing it to several friends, reportedly a day after agreeing to sell it to Cohen for $139 million, several media outlets reported at the time.

Cohen’s reported acquisition of “Le Rêve” comes as his firm continues to face regulatory scrutiny as part of a multiyear federal insider trading probe that has ensnared nine former SAC employees. Earlier this month, SAC Capital agreed to pay a record $616 million fine to settle two lawsuits, the largest-ever U.S. insider trading settlement.

A spokesman for Cohen declined to comment. A spokesperson for Wynn, the chief executive officer of Wynn Resorts Ltd , did not respond to a request for comment.

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.

If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.

—  Rachel Fishman Feddersen, Publisher and CEO

With your support, we’ll be ready for whatever 2025 brings.

Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines. You must credit the Forward, retain our pixel and preserve our canonical link in Google search.  See our full guidelines for more information, and this guide for detail about canonical URLs.

To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.