Peloton co-founder John Foley faced repeated margin calls from Goldman Sachs as the stock fell

John Foleyco-founder and former CEO of Peloton Interactive faced repeated margin calls on money he borrowed against Peloton stock before leaving the fitness company’s board last month, according to people familiar with the situation.

As Peloton’s stock tumbled over the past year, Goldman Sachs Group asked Mr. Foley several times to provide new funds or additional collateral for personal loans the bank had made to him, the people said. The company’s share price has fallen nearly 95% from its peak of $160 in December 2020.

Source link

Back to top button