John Foley (executive)

Last updated
John Foley
Born1978or1979(age 44–45)
Alma mater Georgia Tech
Harvard Business School
Known forFounder of Peloton Interactive
SpouseJill Foley
Children2

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]

Contents

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

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]

Related Research Articles

<span class="mw-page-title-main">Jeff Bezos</span> American billionaire business magnate (born 1964)

Jeffrey Preston Bezos is an American entrepreneur, media proprietor and investor. He is the founder, executive chairman, and former president and CEO of Amazon, the world's largest e-commerce and cloud computing company. With a net worth of about US$170 billion as of November 2023, Bezos is the third-wealthiest person in the world and was the wealthiest from 2017 to 2021, according to both the Bloomberg Billionaires Index and Forbes.

<span class="mw-page-title-main">Bernard Arnault</span> French businessperson (born 1949)

Bernard Jean Étienne Arnault is a French businessman, investor, and art collector. He is the founder, chairman, and CEO of LVMH Moët Hennessy Louis Vuitton, the world's largest luxury goods company. Arnault has an estimated net worth of US$187.6 billion as of October 2023, according to Forbes, making him one of the wealthiest people in the world.

<span class="mw-page-title-main">Jim Walton</span> American businessman

James Carr Walton is an American businessman, currently an heir to the fortune of Walmart, the world's largest retailer. As of November 2023, Walton was the 15th-richest person in the world, with a net worth of US$73 billion according to Bloomberg Billionaires Index. He is the youngest son of Sam Walton.

<span class="mw-page-title-main">John W. Stanton</span> American businessman

John W. Stanton is an American businessman. He is the chairman of the board of Trilogy International Partners, as well as the majority owner of the Seattle Mariners of Major League Baseball (MLB).

<span class="mw-page-title-main">The Giving Pledge</span> Charitable organization

The Giving Pledge is a charitable campaign, founded by Bill Gates and Warren Buffett, to encourage wealthy people to contribute a majority of their wealth to philanthropic causes. As of June 2022, the pledge has had 236 signatories from 28 countries. Most of the signatories of the pledge are billionaires, and as of 2016, their pledges are estimated at a total of US$600 billion.

<i>The Worlds Billionaires</i> Annual ranking of the Worlds billionaires by Forbes magazine

The World's Billionaires is an annual ranking of people who are billionaires, i.e., they are considered to have a net worth of US$1 billion or more, by the American business magazine Forbes. The list was first published in March 1987. The total net worth of each individual on the list is estimated and is cited in United States dollars, based on their documented assets and accounting for debt and other factors. Royalty and dictators whose wealth comes from their positions are excluded from these lists. This ranking is an index of the wealthiest documented individuals, excluding any ranking of those with wealth that is not able to be completely ascertained.

<span class="mw-page-title-main">Mike Cannon-Brookes</span> Australian billionaire business magnate (born 1979)

Michael Cannon-Brookes is an Australian billionaire business magnate who is the co-founder and co-CEO of software company Atlassian.

<span class="mw-page-title-main">Michael Novogratz</span> American businessman

Michael Edward Novogratz is an American investor, formerly of the investment firm Fortress Investment Group. He is currently CEO of Galaxy Investment Partners which focuses on investments in cryptocurrency.

<span class="mw-page-title-main">Lei Jun</span> Chinese billionaire entrepreneur (born 1969)

Lei Jun is a Chinese billionaire entrepreneur and philanthropist. He is known for founding the consumer electronics company Xiaomi. As of October 2022, Lei's net worth was estimated at either US$8.1 billion according to the Bloomberg Billionaires Index, making him the 203rd richest person in the world, or at $7.5 billion by Forbes, ranking him 265th worldwide.

Hui Ka Yan is a Chinese billionaire businessman. He is the chairman of the board and Communist Party secretary of the Evergrande Group, a Chinese real estate developer.

<span class="mw-page-title-main">Adam Neumann</span> Israeli-American businessman (born 1979)

Adam Neumann is an Israeli-American billionaire businessman and investor. In 2010, he co-founded WeWork with Miguel McKelvey, where he served as CEO from 2010 to 2019. In 2019, he co-founded a family office dubbed 166 2nd Financial Services with his wife, Rebekah Neumann, to manage their personal wealth, investing over a billion dollars in real estate and venture startups.

<i>Bloomberg Billionaires Index</i> Ranking of the worlds 500 richest people

The Bloomberg Billionaires Index, launched in March 2012, is a daily ranking of the world's 500 richest people based on their net worth. It features a profile of each billionaire, and includes a tool that allows users to compare the fortunes of multiple billionaires. The index is updated every day at the close of trading in New York.

<span class="mw-page-title-main">Changpeng Zhao</span> Chinese-Canadian business executive

Changpeng Zhao, commonly known as CZ, is a Chinese-born Canadian businessman. Zhao is the co-founder and former CEO of Binance, the world's largest cryptocurrency exchange by trading volume as of November 2023. He resigned as the CEO in November 2023 after pleading guilty to a money laundering charge in the United States.

<span class="mw-page-title-main">Brian Armstrong (businessman)</span> Coinbase CEO and cryptocurrency billionaire

Brian Armstrong is an American business executive, billionaire, and investor who is CEO of cryptocurrency platform Coinbase. He received media attention for his policy of keeping the workplace free of political activism.

Colin Huang or Huang Zheng is a Chinese businessman, investor, and philanthropist. He is the founder and former CEO of the e-commerce company Pinduoduo, which is now the largest agriculture platform in China. Huang is also the owner of at least three other limited liability Cayman companies, including Pinduoduo.

<span class="mw-page-title-main">Eric Yuan</span> Chinese-American billionaire businessman

Eric S Yuan is a Chinese-American billionaire businessman, engineer, and the chief executive officer and founder of Zoom Video Communications, of which he owns 22%.

Apoorva Mehta is a billionaire Indo-Canadian businessman and the founder of Instacart and Cloud Health Systems. Mehta has a net worth of $1 billion according to Forbes, mostly due to his ownership of 28 million shares of Instacart and his stake in Cloud Health Systems.

<span class="mw-page-title-main">Guillaume Pousaz</span> Swiss entrepreneur

Guillaume Pousaz is a Dubai-based Swiss-born billionaire entrepreneur, investor, and philanthropist. He is the CEO and founder of payment platform Checkout.com. As of April 2023, he has an estimated net worth of US$7.2 billion according to Forbes magazine.

Li Xiting is a Chinese-born Singaporean billionaire business magnate and philanthropist. He is the co-founder, president and co-CEO of Mindray, China's largest medical equipment manufacturer.

References

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