Net Worth: Under Review
About Billionaire Steve Cohen Selling Warhol’s Liz Taylor Portrait
Cynical timing or simply luck? Hedge fund billionaire Steve Cohen is putting his Andy Warhol portrait of the late Elizabeth Taylor on the block, according to a Wall Street Journal report today.
The news comes two days after the legendary actress died of congestive heart failure — but the WSJ reports that Cohen “agreed to put ‘Liz #5′ up for auction roughly two weeks ago.”
Cohen stands to make between $20 million and $30 million when ‘Liz #5′ goes up for auction at Phillips de Pury’s May 12 contemporary sale, say art insiders.
Cohen — the 35th richest person in America — is a prolific collector who owns works by artists as diverse as Willem de Kooning and Damien Hirst. He recently bought Jasper Johns’ famous 1958 “Flag” painting for a reported $110 million.