Hedge Fund Billionaire Steve Cohen Revealed As The Anonymous Buyer Of The Most Expensive Statue Ever Auctioned

PicturePhoto Credit: Christie’s Auction HouseThe art sector has been buzzing this past week regarding the record-breaking sale of Picasso’s “Les femmes d’Alger” for $179 million at the Christie’s Auction House. 

Discussed on a much lower level was the sale of the most expensive sculpture ever auctioned at the same Christie’s event. Alberto Giacometti’s “Man Pointing,” sold at Christie’s on May 11 for a record-breaking $141.3 million.
Kept anonymous at first, hedge fund billionaire Steve Cohen was revealed from close sources as the secret buyer of the world’s most expensive sculpture, according to a Page Six report.

While Cohen had elected to remain an anonymous buyer, it did not stop multiple sources close to him from confirming Cohen’s record-breaking purchase — adding to his collection of artwork worth an estimated $1 billion.

“Man Pointing” is one of 6 casts made by Alberto Giacometti. Four are currently housed in museums, while the others are in private and foundation collections.PictureIn 2013, Cohen spent $155 million on Picasso painting, “Le Reve,” buying it from the casino and resort developer Steve Wynn. 

This is the second piece the hedge funder owns by the artist. In November of 2014, Cohen bought Giacometti’s 1950 sculpture “The Chariot,” for $101 million at a Sotheby’s auction.PictureHe has an estimated net worth of $11.1 billion as of May 2014, ranked by Forbes as the 106th richest man in the world. Cohen is 35th overall in the U.S. In November 2012, he began to be implicated in a large criminal insider trading scandal.
Steve Cohen’s Wikipedia Page

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