2 mo. ago • 96%

Peloton’s former billionaire CEO says he’s lost all his money and had to sell his possessions

finance.yahoo.com Peloton’s former billionaire CEO says he’s lost all his money and had to sell his possessions

“At one point I had a lot of money on paper,” says Peloton’s ex-CEO John Foley.

Uplifting News @lemmy.world Peloton’s former billionaire CEO says he’s lost all his money and had to sell his possessions

26 comments

Foley was once worth $1.9 billion, according to Bloomberg, but left the company with a net worth of $225 million.

Jeez, the poor guy... only $225 mill... how do you go on living when you've sunk that low? _/s

126
- That's not even 3 yachts!
  
  Won't someone think of the poor starving yacht builders!
  
  29
- I’ve done the math. I could live my entire life without working (except for fun) on $6 million. This MF has $225 million and describes it as losing all his money.
  
  Fuck that guy.
  
  27
  
  You could live comfortably on the interest alone on $6 million, even with just a 1% AER you'd be getting $5k gross per month.
  
  So yeah, fuck that guy.
  
  10
  
  Yeah but his car doors go like that, not like this.
  
  6
- I also lost all my money and had to sell my possessions, but like literally. $ 0 ( zero ) left, that's what i understand, when i hear or say loosing all my money.
  
  Foley should eat a bag of foul foley.
  
  24
Sounds like he was living beyond his means. Maybe he should have not bought an iPhone, had avocado toast, and had Starbucks all the time. He can pick himself up by his bootstraps.

(Yeah, I know he’s still worth a couple hundred mil. Smallest fiddle for him.)

90
"I don't have much money left"

Proceeds to get 25 million in funding for his new company. Come the fuck on guy, you live a life practically nobody else does. Even if you were left with a paltry 50 million after you were kicked out of the company you drove into the ground with predatory subscription tactics. That's more than enough for you, your kids, and your grandkids to all live on comfortably... but no, you have over quadruple that.

Selling the 55 million dollar home just made sense because it wasn't making money for him the same way cash would.

51
- A starving camel is still bigger than a horse
  
  0
36
Imagine ~~exploring~~ exploiting thousands of people and still ending up poor

25
- I'm pretty sure after exploring thousands of people you're more likely to get chlamydia than rich. I could be wrong though, maybe try it?
  
  15
  
  Will report back if I get permission from the wife. Wish me luck.
  
  3
- Yes, simply impoverished with his 225 million dollars that remain.
  
  2
  
  How could anyone last a week like that? Absolutely abandoned by society, that man is.
  
  0
- Who was exploited and how?
  
  -1
  
  American workers were not exploitable enough for their business model
  
  4
  
  Its so easy to guess this shit. Billionaire? Definitely has fucked people over.
  
  1
Lemme know when he's done failing back up and lives in a cardboard box like the rest of us.

23
- Bonus points is it's a Peleton box.
  
  3
Oh no.

Anyway.

17
"Tres Comas is for winners. I don't deserve Tres Comas."

8
I honestly wonder at a certain point the human brain switches back into a scarcity mindset once you hit the point beyond which the sums are fathomable anymore. For instance, for most of us, when we hear about 800c000 dollars, the brain goes “Hey, that’s a lot of money”, but I wonder if someone who has 8 million thinks at some level “whoa, I only have 8 of something—best be careful with it!!”

4
If he'd just had the wherewithal to put two million into an index fund he'd have plenty dividends to live off of.

But he was apparently stupid.

1

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