Billionaire puts Warhol portrait of Elizabeth Taylor on market

Actually, hedge-fund manager Steve Cohen decided to auction off the famous "Liz #5" two weeks ago, which naturally has the Wall Street crowd speculating on what did Cohen know and when did he know it. Anyway, starting price is $20 million, and the auction is May 12 in NY. WSJ reports that he bought the silkscreen portrait for an undisclosed sum from the estate of major New York dealer Illeana Sonnabend, who died in 2007. The work is from Warhol's classic series of iconic women that include Marilyn Monroe and Jackie Kennedy (Cohen also owns a turquoise Warhol portrait of Monroe). By the way, Forbes has Cohen's net worth at $8 billion, so whatever he gets from the sale will be comparative chump change.