Behind every billionaire there is a story!

Soros loses $120 million on Lehman stake

Billionaire George Soros’s hedge fund may have lost at least $120 million on its stake in Lehman Brothers Holdings Inc., mostly acquired in the second quarter, as the investment bank suffered its worst financial result.

Soros Fund Management LLC, which manages $20 billion, purchased 9.47 million shares, or about 1.4% of New York-based Lehman, between March 31 and June 30, according to a filing with the Securities and Exchange Commission. The losses could be as high as $380 million, depending on when Mr. Soros purchased the stake and if he still owns the shares.

read the rest published by NY Sun here:

http://www.nysun.com/business/soros-fund-loss-on-lehman-may-be-120m/85619/