Exhibit 23.5


                         Consent of Independent Auditors


We consent to the reference to our firm under the caption "Experts" and to the
incorporation by reference in this Registration Statement (Form S-3) and related
Prospectus of Leucadia National Corporation for the registration of 400,000 of
its common shares, of our report, dated March 5, 2004, with respect to the
consolidated financial statements of The FINOVA Group Inc. for the year ended
December 31, 2003, incorporated by reference in the Leucadia National
Corporation 2003 Form 10-K/A, filed with the Securities and Exchange Commission.



                                                 /s/ Ernst & Young LLP

Phoenix, Arizona
July 21, 2004