FROM BILLIONAIRE TO UNDERDOG: THE JOURNEY OF PELOTON CO-FOUNDER JOHN FOLEY
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John Foley, the co-founder and former CEO of Peloton, has experienced a remarkable rise and fall, mirroring the trajectory of the company he helped build into a household name. At its peak during the COVID-19 pandemic, Peloton was valued at nearly $50 billion, and Foley himself was a billionaire. However, as pandemic restrictions eased and people returned to gyms, Peloton’s fortunes waned. The company’s overexpansion and high-profile setbacks, such as a controversial depiction in a “Sex and the City" reboot, contributed to a steep decline in its stock value. By the time Foley stepped down as CEO in 2022, Peloton’s market cap had plummeted to under $2 billion.