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The Wall Street Journal: Carl Icahn sold his stake in Lyft to George Soros before its IPO

Carl Icahn sold his roughly 2.7% stake in Lyft Inc. to fellow billionaire George Soros ahead of the ride-hailing company’s initial public offering last week, according to people familiar with the matter.

Jonathan Christodoro, a former Icahn Capital LP managing director who sat on Lyft’s board until last month, facilitated the sale of Icahn’s stake, worth roughly $550 million at the IPO price, some of the people said. Soros, 88, is the founder of Soros Fund Management LLC. He is famous for building a fortune through a series of savvy trades.

The exact timing and motivation for Icahn’s move couldn’t be determined, though he had held the stake for roughly four years — a relatively long period for him.

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