Tautological bundles of realizations of matroids were introduced in [BEST23] as a unifying geometric model for studying matroids. We compute the cohomologies of exterior and symmetric powers of these vector bundles, and show that they depend only on the matroid of the realization. As an application, we show that the log canonical bundle of a wonderful compactification of a hyperplane arrangement complement, in particular the moduli space of pointed rational curves, has vanishing higher cohomologies.