Billion Dollar Hedge Fund Founder Buys Picasso Painting for $155M after Settling Inside Trading Lawsuit

The price tag is the highest ever paid by a U.S. collector.

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Steven A. Cohen, who founded $14 billion dollar hedge fund group SAC Capital, bought Picasso’s Le Rêve for $155 million. The price is thought to be the highest ever paid for an artwork by a U.S. collector. He bought the masterpiece from Vegan mogul Steve Wynn, known for putting his elbow through a 1932 painting gf Picasso's mistress. Cohen's SAC Capital recently settled two insider-trading lawsuits with the government for $616 million. 

[via NYPost]

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