Steve Cohen's legal challenges haven't slowed his investing gains—or his spending. Cohen—whose firm SAC Capital settled criminal insider charges for $1.8 billion last year—bought a sculpture ...

Cohen, who is worth $11.1 billion, spends 20 percent of his income on art. In 2006, he famously offered to buy Picasso’s “Le Rêve” from Steve Wynn for $139 million, but Wynn accidentally ...