Peloton’s former CEO John Foley’s net worth in 2024 has attracted significant interest, especially after he revealed nearly losing all his money when leaving the organization. Once a billionaire, Foley’s wealth has fluctuated due to Peloton’s volatile stock value. His earnings and current financial status continue to captivate both followers and financial experts. They are keen to understand how he is managing his finances and post-Peloton ventures.
So, let’s examine the income sources contributing to John Foley’s net worth and how he is rebuilding his financial foundation after leaving Peloton.
What is John Foley’s net worth in 2024?
John Foley reportedly has an estimated net worth of around $225 million in 2024.
Foley’s net worth comes from investments, high-value property sales, and his new venture, Ernesta, a home décor company. His wealth, once tied to his Peloton role, declined significantly after leaving the company in 2022 due to a drop in Peloton stock value.
Foley co-founded Peloton, a popular exercise equipment company, in 2012. He led the organization through its rise and fall, including a significant stock decline post-pandemic. After leaving the company, Foley has been working on rebuilding his wealth with new ventures.
What does John Foley do for a living?
John Foley is an entrepreneur who founded and led companies in the fitness and home décor industries.
Recently, Foley co-founded Ernesta, a New York-based home décor company offering custom rugs online. After leaving Peloton in 2022, Foley faced financial difficulties due to his wealth being tied to Peloton’s stock. He sold major assets, including properties in the Hamptons and Manhattan, to adapt to his changed financial situation.
With Ernesta, he reportedly aims to achieve $500 million in free cash flow by the end of the decade. He has brought in ex-Peloton executives and remains optimistic about future success.
John Foley’s earnings explained — how does he make money?
John Foley earns money from several primary sources:
Ernesta (Home Décor Company): Foley’s main income source is Ernesta. Specializing in custom rugs sold online, Ernesta has reportedly raised $25 million in venture capital. Foley aims for a $500 million free cash flow by decade’s end, potentially boosting his income.
Investments and Property Sales: Following his departure from Peloton, Foley earned money by selling high-value assets. He sold his Hamptons house for $51 million and a Manhattan townhouse for $35.5 million. However, these sales were made at a loss, highlighting his financial challenges. Despite the losses, the sales provided him with liquidity after leaving Peloton.
Peloton Stock and Former Executive Roles: Foley earned substantial income as Peloton’s co-founder and CEO. The company’s pandemic surge made him a billionaire, but his wealth was closely tied to its stock performance. After stepping down in 2022, he sold his shares at a significant loss.
Advisory and Speaking Engagements: As a prominent entrepreneur with experience in scaling a major company, Foley may also earn money from advisory roles or speaking engagements. However, specific details or earnings from these activities are not readily available.
