Billionaire hedge fund manager has bought the Picasso painting billionaire casino mogul Steve Wynn famously put his elbow through, Page Six reports.
Cohen, who runs S.A.C. Capital, secretly bought “Le Reve,” a portrait of Picasso’s mistress Marie-Therese Walter for $155 million, the report said.
A rep for Cohen declined to comment on the Post’s report.
This painting has a fascinating story behind it.
Wynn purchased the Picasso for $48 million back in 1997. In 2006, he agreed to sell it to Cohen, who has an extensive art collection.
However, at a get together with some friends, Wynn accidentally put his elbow through the painting when he was showing it off. Oof!
Wynn’s vision problems were blamed for the incident.
Anyway, it resulted in about $45 million in damage and it didn’t sell to Cohen at the time.
It worked out in the end, though. The painting has a memorable story behind it and it sold for $16 million more than it would have in 2006.
Here’s what the painting looks like:
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