John_Foley_(executive)

John Foley (executive)

John Foley (executive)

American businessman

John Foley (born 1978/1979)[1] is an American former billionaire and business executive who co-founded Peloton in 2012 and Ernesta in 2023.[2]

Quick Facts Born, Alma mater ...

Biography

Born in 1971, Foley received the Bachelor of Science in Engineering from Georgia Tech and the Master of Business Administration from the Harvard Business School. During university, he paid for his tuition by working at a Skittles factory.[1]

Barnes & Noble

Before founding Peloton,[1] he served as a president of Barnes & Noble.[3]

Peloton

Main article: Peloton Interactive

Foley co-founded Peloton in 2012. The company went public in 2019, and he had a net worth of approximately $1.9 billion in 2021. As Peloton began to experience financial difficulties related to the COVID-19 pandemic, his net worth declined to approximately $225 million in November 2022.[4] He left the company that year as it underwent a restructuring.[5]

After leaving Peloton, Foley founded Ernesta, an online rug company that ships samples to customers.[6] It was cofounded with Hisao Kushi and Yony Feng, both of whom also cofounded Peloton.[7] The company launched in 2023, operating in New York, Texas, Florida and Illinois.[8]

Personal life

Foley lives in the West Village neighbourhood of Manhattan with his wife Jill and their two children.[9]

References

  1. [1]
    "John Foley". Forbes.
  2. [2]
    "Peloton Founder Hits Billionaire Status on Exercise Frenzy". Bloomberg. September 11, 2020 – via www.bloomberg.com.
  3. [3]
    Rapier, Graham. "Peloton's surge in popularity tripled its founder's wealth, making him the latest billionaire minted amid the pandemic". Business Insider.
  4. [4]
    "Once a Billionaire, Peloton's John Foley Departs With 87% Wealth Lost". Bloomberg.com. 2022-09-13. Retrieved 2023-08-21.
  5. [5]
    "The former CEO of fitness bike maker Peloton will now be selling rugs". Fortune. Retrieved 2023-08-21.
  6. [6]
    Chang, Clio (14 November 2022). "Peloton Founder Is Going Big on Rugs". Curbed. Retrieved 15 November 2022.
  7. [7]
    "Peloton ex-CEO John Foley has a new company, and plenty to say about the fall of the old one". Fast Company.
  8. [8]
    "Peloton Founder John Foley's Next Act? Custom Rugs". Architectural Digest. 2023-05-16. Retrieved 2023-09-06.
  9. [9]
    "How John Foley, Peloton Co-Founder, Spends His Sundays (Published 2020)". 2020-12-11. Retrieved 2023-08-21.
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