The Genesis of a Collector
Steve Cohen, the billionaire hedge fund manager and owner of the New York Mets, is renowned not only for his financial acumen but also for his profound passion for art. Over the past two decades, Cohen has meticulously curated one of the most significant private art collections globally, reflecting his deep appreciation for both historical masterpieces and contemporary works.
Cohen’s journey into the art world began earnestly in 2000. Initially captivated by Impressionist painters like Manet and Monet, he soon expanded his interests to encompass contemporary art, seeking pieces that resonated with his personal taste and the evolving art landscape. This transition marked the beginning of a collection characterized by both depth and diversity.
Valuation: A Billion-Dollar Ensemble
Estimates place the value of Cohen’s art collection at approximately $1 billion. This staggering figure underscores not only the monetary worth but also the cultural and historical significance of the artworks he has amassed. His acquisitions often make headlines, reflecting both his discerning eye and willingness to invest in exceptional pieces.
Signature Acquisitions
Cohen’s collection boasts several iconic works:
Pablo Picasso’s Le Rêve: Purchased in 2013 for $155 million, this painting is one of the most expensive ever sold.
Alberto Giacometti’s L’Homme au doigt (Pointing Man): Acquired in 2015 for $141.3 million, setting a record for the most expensive sculpture sold at auction.
Jeff Koons’ Rabbit: Bought in 2019 for $91.1 million, marking the highest price paid for a work by a living artist at that time.
Damien Hirst’s The Physical Impossibility of Death in the Mind of Someone Living: This 14-foot tiger shark preserved in formaldehyde was purchased for $8 million.
These acquisitions highlight Cohen’s inclination towards “trophy” art—pieces that are not only valuable but also emblematic of significant movements and moments in art history.
A Diverse Palette: Beyond the Icons
While Cohen is known for high-profile purchases, his collection also reflects a commitment to diversity and emerging talent:
Marc Quinn’s Self: A self-portrait sculpture made from the artist’s own blood, showcasing Cohen’s interest in provocative contemporary works.
Support for Emerging Artists: Cohen actively seeks out works by lesser-known artists, often visiting studios and galleries to discover new talent, demonstrating his dedication to the broader art community.
Display and Accessibility
Cohen’s art collection is not confined to private viewing:
Point72 Offices: Many pieces are displayed in the offices of his firm, Point72 Asset Management, located in Stamford, Connecticut, as well as in New York, London, and Asia. The artworks are rotated approximately every three months, allowing employees and visitors to experience a variety of works.
Public Exhibitions: In 2009, Cohen lent 20 paintings and sculptures to Sotheby’s in New York for an exhibition, including works by Willem de Kooning, Pablo Picasso, and Lisa Yuskavage.
Private Museum: Reports suggest that Cohen is building a private museum on his Greenwich property to house parts of his collection, indicating his desire to create a dedicated space for art appreciation.
Philanthropy and Institutional Support
Cohen’s engagement with the art world extends beyond collecting
Museum Contributions: He has made substantial donations to institutions such as the Museum of Modern Art (MoMA), including a $50 million gift in 2017 to support its expansion.
Board Memberships: Cohen serves on the Painting and Sculpture Committee at MoMA and joined the board of the Museum of Contemporary Art (MOCA) in Los Angeles in 2012, reflecting his active role in shaping the direction of major art institutions.
Integrating Art and Everyday Life
Cohen’s passion for art permeates various aspects of his life:
New York Mets: As the owner of the Mets, Cohen has introduced art into the baseball experience. Collaborations with artists like Joel Mesler and Rashid Johnson have resulted in unique giveaways and installations at Citi Field, blending sports and contemporary art to enhance fan engagement.
Personal Spaces: Artworks from his collection are displayed throughout his residences and offices, integrating art into his daily environment and reflecting his belief in the importance of living with art.
A Lifelong Affair with Art
Steve Cohen’s journey as an art collector is marked by a profound appreciation for artistic expression, a commitment to supporting artists, and a desire to share his passion with others. His collection, valued at around $1 billion, is not merely a testament to his wealth but a reflection of his identity as a connoisseur and patron of the arts. Through strategic acquisitions, philanthropic endeavors, and innovative integrations of art into public spaces, Cohen continues to influence and enrich the cultural landscape. image/businessinsider
