Billionaire Marc Lasry, who runs distressed debt hedge fund Avenue Capital, will not be the ambassador to France, CNBC's Kayla Tausche reported.
According to Tausche, he told investors in a letter that he will not be the next ambassador to France.
It's unclear why at this time.
There has been speculation for months now that Lasry would be the next ambassador.
Just last month, Bill Clinton told Politico that Lasry was told he was going to be the next ambassador.
The hedge fund was also preparing for life without Lasry.
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