Wasserstein quickly resurrected Lazard—and would soon buy out David-Weill to take control of the firm.
Wasserstein lived a life that was decidedly unconventional, and she lived it on her own terms.
But he seems never to have fully fathomed why Wasserstein bought New York magazine in the first place.
His financial acumen benefitted no one as much as Wasserstein himself.
But inspiration without determination leads nowhere, and Wasserstein understood this.
Wasserstein tried to pick up where Loomis left off in selling Lazard to Lehman.
When he sold his company, Wasserstein Perella, to Dresdner Bank in 2000, he pocketed almost half the $1.37 billion sale price.
Wasserstein was one of the first lawyers to leave law for the far more lucrative investment-banking business.
Wasserstein made more money from investment banking than any man on the planet.
Almost as soon as Wasserstein died, there was talk that the family would sell the magazine.