There aren't a lot of people who'd say they're nostalgic for the years of the COVID-19 pandemic, but you can probably count John Foley, the now-former head honcho at Peloton, as one of them.
Peloton, a manufacturer of high-tech exercise equipment, was initially a huge winner of the pandemic economy, when millions of people suddenly needed a way to work out without leaving the house. In 2020, salesBut that windfall didn't last — and Foley, who became a billionaire off that rapid success, left Peloton in 2022 as a considerably less-rich man, amidst plunging sales and a tanking stock position at the company.. "Not actually , unfortunately. I've lost all my money.
In numbers, he went from a peak personal fortune of $1.9 billion, to what was last reported as around $225 million."I'm working hard so that I can try to make money again... because I don't have much left," Foley joked, per thePeloton's troubles started when the pandemic began to ease up later in 2021.
That proved to be a mistake. The big wake-up call came in November, when Peloton's first-quarter earnings direly forecasted sales to be $1 billion short of what was projected just three months earlier.
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