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Hedge fund billionaire Michael Steinhardt surrenders $70m of stolen antiquities

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Investigation finds ‘compelling evidence’ that 180 antiquities were stolen from 11 countries

Michael Steinhardt speaks at the Reuters Investment Summit in New York December 8 2008. Picture: BRENDAN MCDERMID/REUTERS

“For decades, Michael Steinhardt displayed a rapacious appetite for plundered artefacts without concern for the legality of his actions, the legitimacy of the pieces he bought and sold, or the grievous cultural damage he wrought across the globe,” Vance said in a statement. Steinhardt, who turns 81 on Tuesday, built his wealth running the hedge fund Steinhardt Partners, which he closed in 1995 to focus on Jewish philanthropic issues. He is worth $1.2bn, according to Forbes magazine.

Among the antiquities was a 4th-century BCE wrought stag's head worth $3.5m that Steinhardt loaned in 1993 to the Metropolitan Museum of Art.

 

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