Former Peloton CEO John Foley Reveals Financial Woes

Foley, once a billionaire during Peloton's peak, shares his journey from wealth to starting anew with a rug company.

John Foley co-founded Peloton in 2012 and saw its value soar during the pandemic.
As COVID-19 restrictions lifted, Peloton's stock plummeted, drastically reducing Foley's fortune.
Foley stepped down as CEO in February 2022 and later founded Ernesta, a direct-to-consumer rug company.
He has sold significant assets, including a $55 million East Hampton estate, to manage his financial situation.
Foley remains optimistic about Ernesta's potential, aiming for significant growth by 2030.