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Elon’s Options & A Lazard Micro-Scandal

News and notes on the anxieties of the Wall Street crowd out East: the unfortunate Lazard scandal, Elon’s lawsuits, his M&A options and more.

In a letter written by Elon Musk’s lawyer to Mark Zuckerberg, Musk claims that the employees he fired walked across the street to Meta and set up Threads using Twitter’s trade secrets and expertise.
In a letter written by Elon Musk’s lawyer to Mark Zuckerberg, Musk claims that the employees he fired walked across the street to Meta and set up Threads using Twitter’s trade secrets and expertise. Photo: Chesnot/Getty Images
William D. Cohan
July 9, 2023

There’s a long tradition of sending a message to the troops at Lazard. Back in the 1970s, when the bank’s patriarch Michel David-Weill took over the running of the firm, he made a number of moves to show that there was a new sheriff in town. Michel, of course, was the heir to the firm’s founding family and he quickly cemented his authority by replacing the great André Meyer, the Lazard senior partner who had come to New York from Paris to run the bank during World War II.