Peloton co-founder John Foley says he’s lost all his money but is looking to bounce back with a new company making made-to-order rugs.
The 53-year-old set up the in-home exercise equipment company in 2012, overseeing its staggering growth to a $50 billion company in less than a decade. Along the way, Foley amassed an estimated $1.9 billion personal fortune by 2021—but he ended up leaving the company a year later as the company’s stock cratered due, in part, to the easing of COVID lockdown restrictions.
“You know, at one point I had a lot of money on paper. Not actually [in the bank], unfortunately,” Foley told the New York Post. “I’ve lost all my money. I’ve had to sell almost everything in my life.”
