Before he quit the board of the fitness firm last month, John Foley, the co-founder and former CEO of Peloton Interactive Inc., PTON 4.60%, experienced numerous margin calls on money
Goldman Sachs Group Inc. GS -0.18% reportedly requested new funds or greater collateral from Mr. Foley on numerous occasions.
Peloton's shares fell during the past year, according to the people.
The company's share price has decreased by about 95% since December 2020, when it peaked at $160.
According to the sources, Mr. Foley was able to obtain private funding and evade Goldman's stock sales.
On Monday, he chose not to disclose the percentage of his existing ownership that had been pledged or the amount he had borrowed against his assets.