The Wall Street Journal: Peloton founder John Foley sells $50 million in shares to firm backed by Michael Dell

March 3, 2022

Peloton Interactive Inc.’s founder and former chief executive, John Foley, has sold about $50 million worth of shares in the company to an investment firm backed by computer entrepreneur Michael Dell, according to a securities filing Wednesday.

Foley, who stepped down in February as troubles mounted at Peloton
PTON,
-3.22%,
still holds enough shares after the sale to maintain effective control of the exercise-equipment maker.

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