Peloton Ex-CEO John Foley Sells $50 Million in Stock to Michael Dell's Investment Firm

  • 📰 NBCDFW
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Peloton co-founder and ex-CEO John Foley has sold about $50 million in stock to an investment firm backed by Michael Dell, MSD Partners.

The shakeup happened as Peloton faced slowing momentum for its connected fitness equipment and mounting expenses, due to a series of missteps and poor investments during the Covid pandemic.

McCarthy sits on the board of a blank-check company also backed by Dell's family office, which manages more than $20 billion on behalf of the founder of Dell Technologies and other investors. Representatives from Peloton and MSD partners didn't immediately respond to CNBC's request for comment.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 288. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines