Carl Ichan sell his steak in Lyft (LYFT.US)

Carl Ichan sold his share price to Lyft before the IPO last Friday.

Carl Icahn is an American businessman, investor, and philanthropist. He is the founder and controlling shareholder of Icahn Enterprises, a diversified conglomerate holding company based in New York City, formerly known as American Real Estate Partners. He is also Chairman of Federal-Mogul, an American developer, manufacturer and supplier of powertrain components and vehicle safety products. Icahn served as special economic adviser on financial regulation to US President Donald Trump briefly in 2017, leaving amid concerns of conflicts of interest.

Icahn owns 2.7% of the company or $ 550 million at $ 72, sold to an unknown buyer before Lyft’s IPO, the Wall Street Journal reported.

Lyft (LYFT shares traded downwards after reaching a high of $ 88.60 on the first trade day on March 29. Inadequate analytical reviews of LYFT.US accounted for 12% of the stock value, with Wednesday trading ended at $ 70 per share.

Incan invests in the Lift in 2015, $ 100 million later added another $ 50 million. Other major shareholders of Lyft are Fidelity Management, Rakuten Inc. and General Motors Co.

Unfortunately, the same is not known because it was unauthorized by the founders of Lyft Logan Green and John Zimmer’s decision to have a double shareholding structure entitling to two votes. Jonathan Christodoro, appointed by Icahn on the board of directors of Lyft, left in March.