John Foley, co-founder and former CEO of Peloton, revealed he lost nearly all his wealth after leaving the company in 2022. Foley's financial downfall was tied to Peloton's rapid decline post-pandemic, as demand for home exercise equipment plummeted and the company's stock tanked. Once a billionaire, Foley's net worth dropped from $1.9 billion to around $225 million, forcing him to sell several high-value properties. Despite these setbacks, Foley has started a new venture, Ernesta, a custom rug company, with former Peloton executives. He remains optimistic and is working hard to regain his financial footing, admitting that predicting post-pandemic demand was a significant challenge. Peloton continues to struggle, cycling through CEOs and facing reduced market valuations and customer demand.