Peloton co-founder and former CEO John Foley, once a billionaire, reveals he has lost all his money and had to sell his things after leaving the company.
Former Peloton chief executive John Foley says his fortune has dried up, two years after his departure from the high-end fitness company he co-founded. "Oh I’m an open book," the former billionaire told The New York Post in an interview. "You know, at one point I had a lot of money on paper. Not actually , unfortunately. I’ve lost all my money. I’ve had to sell almost everything in my life.
Foley stepped down as CEO of Peloton in February 2022 and left his role as executive chair that September. However, by the end of that year, he told The Post, he had raised $25 million from venture capitalists for his new venture, New York City-based Ernesta, a made-to-order rug company. "I’m working hard so that I can try to make money again… because I don’t have much left," he joked to the outlet. "And so I’m hungry and humble.
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