Lyft Founders to Give More Than 1.5 Million Shares to Donor Advised Fund
Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company's initial public offering on March 29, 2019 in Los Angeles, California. (Photo by Mario Tama/Getty Images)
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Lyft Inc.’s co-founders are donating more than 1.5 million shares of the company to the National Philanthropic Trust, one of the largest operators of donor advised funds, a controversial type of charity.
The founders, Logan Green and John Zimmer, are transferring some their class B shares, which have more voting rights, to class A common stock to make the donation. The move will leave their voting control of the company at 44.4%.