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Shocking News of Bruce Wasserstein Death

Bruce Piedmont Wasserstein,was an American investment banker and businessman, born on 25th December 1947 in Brooklyn, New York, died on 14th October 2009

He was a graduate of the University of Michigan, Harvard Business School, and Harvard Law School, and was the Chairman and CEO of Lazard.

Wasserstein helped broker more than a thousand transactions worth $250 billion since the 1980s. Starting his career as a Cravath, Swaine & Moore attorney, he later rose to co-head of First Boston Corp.’s dominant merger and acquisition practice.

After making a $25 million donation to Harvard Law School, the large academic wing of the school’s new Northwest Corner complex will be named Wasserstein Hall, in his honor.

According to Forbes as of 9/17/08, Wasserstein’s net worth is estimated to be $2.3 billion.

Wasserstein was divorced three times. In January 2009 he married his fourth wife, Angela Chao – one of four sisters of Elaine Chao, who was secretary of labor under George W. Bush. Angela is an executive at her father James Chao’s Foremost Group, a shipping and trade concern, and on the board of BIMCO, a trade organization. She graduated Harvard in three years, worked in investment banking at Smith Barney, and briefly at her father’s shipping company before going to Harvard Business School, and then back to Foremost.

Wasserstein’s sister, Pulitzer Prize-winning playwright Wendy Wasserstein, died suddenly in 2006 of lymphoma at 55.

On October 12, 2009 Wasserstein was admitted to the hospital with an irregular heartbeat. It was originally reported that his condition was serious, but that he was stable and recovering. On October 14, 2009 Wasserstein was pronounced dead.

Bruce Wasserstein’s death has come as a shock.No news came through that the situation was life-threatening.

The firm said in a statement that the exact cause of death hasn’t yet been determined. A long time company man, Steven Golub, has temporarily been named as the CEO.

Wasserstein was a long time corporate lawyer who became one of the top deal makers. He rose to prominence of the Lazard Ltd. company in 2005 to lead them as CEO and chairman.

But Wasserstein was also a well known magazine owner. He acquired New York magazine as well as others including American lawyer which he sold to a large British company.

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