<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-05-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000096223</issuerCik>
        <issuerName>LEUCADIA NATIONAL CORP</issuerName>
        <issuerTradingSymbol>LUK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001213601</rptOwnerCik>
            <rptOwnerName>CUMMING IAN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>529 EAST SOUTH TEMPLE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SALT LAKE CITY</rptOwnerCity>
            <rptOwnerState>UT</rptOwnerState>
            <rptOwnerZipCode>84102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman of the Board</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>100000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>34.565</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>23820337</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>944443</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See explanation.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Transaction consisted of private purchase of 100,000 common shares from a member of Reporting Person's family.</footnote>
        <footnote id="F2">Consists of common shares beneficially owned by the Reporting Person's wife (directly and through trusts for his children of
 which his wife is trustee), and common shares held in a Grantor Retained Annuity Trust.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Ian M. Cumming</signatureName>
        <signatureDate>2007-05-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0202
4
2007-05-23
0
0000096223
LEUCADIA NATIONAL CORP
LUK
0001213601
CUMMING IAN M
529 EAST SOUTH TEMPLE
SALT LAKE CITY
UT
84102
1
1
1
0
Chairman of the Board
Common Shares
2007-05-23
4
P
0
100000
34.565
A
23820337
D
Common Shares
944443
I
See explanation.
Transaction consisted of private purchase of 100,000 common shares from a member of Reporting Person's family.
Consists of common shares beneficially owned by the Reporting Person's wife (directly and through trusts for his children of
 which his wife is trustee), and common shares held in a Grantor Retained Annuity Trust.
/s/ Ian M. Cumming
2007-05-24