There he is in all his tarnished glory: Steven A. Cohen, arguably the most famous, and infamous, hedge fund manager in the United States. Maybe the world.
He lives in a 35,000-square foot Greenwich, Connecticut, mansion with an indoor skating rink, golf course and everything an exclusive school might offer. His New York City duplex in Bloomberg Tower is for sale at $115 million. He’s staying in a $23.4 million Greenwich Village maisonette, while his $38.8 million 8,250 square-foot house nearby is being renovated. Last summer he bought an East Hampton beach house for $60 million. He has another place there — 10 bedrooms and a spa — but it isn’t close enough to the water.
Cohen’s extensive art collection could fill a private museum. It includes Jeff Koons’ enormous yellow balloon dog sculpture and Pablo Picasso’s “Le Rêve.” Damien Hirst’s dead shark, preserved in formaldehyde, hangs from the ceiling in Cohen’s office. This may or may not be an intentional symbol of his methods of operation.
Though he is selling some of his art this week, Cohen is unlikely to have a tag sale — even after the $1.8 billion settlement he made this month with the SEC on behalf of his hedge fund, SAC Capital Advisors, which admitted to insider trading. He is enjoined from managing other people’s money — forever. But with a more than $7 billion fortune left, Cohen can set up a family office to invest the remainder.
One Gilded Age gives way to another, the money goes round and round, and the more things change, the more they stay the same.