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.
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