<ARTICLE> 5
<LEGEND>
THE FOLLOWING INFORMATION HAS BEEN EXTRACTED FROM THE FINANCIAL STATEMENTS 
FILED IN ITEM 1 TO THE COMPANY'S FORM 10-Q FOR THE QUARTER ENDED 
SEPTEMBER 30, 1996.
</LEGEND>
<RESTATED>
<CIK> 0000041296
<NAME> GIANT GROUP, LTD.
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                          21,950
<SECURITIES>                                    10,682
<RECEIVABLES>                                    5,214
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                47,369<F1>
<PP&E>                                           5,745
<DEPRECIATION>                                   2,083
<TOTAL-ASSETS>                                  54,935
<CURRENT-LIABILITIES>                            4,355
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            73
<OTHER-SE>                                      49,565
<TOTAL-LIABILITY-AND-EQUITY>                    54,935
<SALES>                                              0
<TOTAL-REVENUES>                                 6,879
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               (1,536)<F2>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  33
<INCOME-PRETAX>                                  5,629<F3>
<INCOME-TAX>                                   (8,512)
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    14,141
<EPS-PRIMARY>                                     3.35
<EPS-DILUTED>                                     3.11
<FN>
<F1>INCLUDES INCOME TAX RECEIVABLES OF $8,925.
<F2>INCLUDES EXPENSES FOR PROXY CONTEST OF $736, EXCHANGE OFFER OF $518 AND
DEPRECIATION OF $282.
<F3>INCLUDES GAIN ON SALE OF AFFILIATE OF $3,197 AND EQUITY IN EARNINGS OF
AFFILIATE OF $317.
</FN>