Early Life And Career

John Foley: From Peloton Billionaire to a Former CEO

Early Life and Career

John Foley was born in 1978. He co-founded Peloton in 2012 and Ernesta in 2023. Peloton's stock price soared during the pandemic, making Foley a billionaire.

Downfall of Peloton and Foley's Wealth

However, Peloton's stock price plummeted after the pandemic. Foley's wealth dropped from $1.9 billion to $225 million. He stepped down as CEO in 2022.

Aftermath and Current Status

Foley has resigned as executive chairman of Peloton's board. Peloton has undergone significant changes, including layoffs and a shift in strategy.

Key Points

* John Foley co-founded Peloton in 2012 and became a billionaire. * Peloton's stock price crashed after the pandemic, wiping out most of Foley's wealth. * Foley stepped down as CEO in 2022 and has since resigned as executive chairman. * Peloton has faced challenges and undergone restructuring under new leadership.

Sources

* Forbes: John Foley * CNBC: Peloton co-founder and former CEO John Foley steps down as executive chairman