<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-11-06</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>2003-11-06</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>G</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F1"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>27254</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>8881483</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeHolding>
      <securityTitle>
         <value>Common Shares</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>120312</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>FN</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> Reporting Person gifted such shares to the Cumming Foundation.  Reporting Person is a trustee and President of the foundation and disclaims beneficial ownership of the common shares held by the foundation.</footnote>

      <footnote id="F2"> Beneficially owned by the Reporting Person's wife (directly and through trusts for the benefit of his children of which his wife is trustee).</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Ian M. Cumming</signatureName>
      <signatureDate>2003-12-04</signatureDate>
   </ownerSignature>
</ownershipDocument>
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X0201
4
2003-11-06
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
2003-11-06
4
G
0
27254
0
D
8881483
D
Common Shares
120312
I
FN
Reporting Person gifted such shares to the Cumming Foundation.  Reporting Person is a trustee and President of the foundation and disclaims beneficial ownership of the common shares held by the foundation.
Beneficially owned by the Reporting Person's wife (directly and through trusts for the benefit of his children of which his wife is trustee).
Ian M. Cumming
2003-12-04