John Foley (executive)
John Foley is an American former billionaire and business executive who co-founded Peloton in 2012 and Ernesta in 2023.
Biography
Foley was born in Houston, Texas, in 1971, and grew up in Key Largo, Florida. He received the Bachelor of Science in Industrial 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.Barnes &; Noble
Before founding Peloton, he served as a president of Barnes & Noble.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. He left the company that year as it underwent a restructuring.After leaving Peloton, Foley founded Ernesta, an online rug company that ships samples to customers. It was cofounded with Hisao Kushi and Yony Feng, both of whom also cofounded Peloton. The company launched in 2023, operating in New York, Texas, Florida and Illinois.