Billionaire Steve Cohen Absent From This Year's Art Basel

steve cohen watercolor

Prolific art collector Steven A. Cohen, the billionaire founder of $14 billion SAC Capital Advisors, is absent from this year’s Art Basel, the New York Times’ David Segal reports

Cohen, a passionate art collector, is a fixture at this high profile art show, which is going on in Miami right now until Dec. 9.  

His impressive art collection, which is said to be worth around $1 billion, includes pieces by Monet, Picasso, Jasper Johns, Jeff Koons, Damien Hirst, Willem de Kooning, Francis Bacon and Andy Warhol, according to a Vanity Fair profile from 2010.  

Just recently, Cohen’s name has surfaced in the government’s latest insider trading case against former SAC portfolio manager Mathew Martoma. Cohen wasn’t explicitly named in the complaint against Martoma, but several media outlets have identified him as “Portfolio Manager A.” 

While Cohen has been implicated in the case, he has not been charged with any wrongdoing.  In fact, he may never be charged.

What’s more is he told investors during a client call last week that he’s confident he acted appropriately. 

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at