John Foley (executive)
John Foley | |
|---|---|
| Born | 1971 Houston, Texas, U.S. |
| Occupation | Entrepreneur |
| Known for | Co-founder of Peloton and Ernesta |
John Foley (born 1971) is an American entrepreneur and former billionaire who co-established Peloton in 2012 and later founded Ernesta in 2023.
Biography
Born in Houston, Texas in 1971, Foley was raised in Key Largo, Florida. He holds a Bachelor of Science degree in Industrial Engineering from Georgia Tech and completed an MBA at Harvard Business School. While attending college, he funded his education by working at a Skittles manufacturing plant.
Barnes & Noble
Prior to launching Peloton, Foley held the position of president at Barnes & Noble.
Peloton
In 2012, Foley co-founded Peloton. The company went public in 2019, and by 2021, Foley's net worth was estimated at roughly $1.9 billion. Nevertheless, the economic difficulties brought on by the COVID-19 pandemic led to a decrease in his net worth to around $225 million by November 2022. That same year, he exited Peloton amid organizational restructuring.
Following his departure from Peloton, Foley introduced Ernesta, an e-commerce rug business that delivers samples directly to consumers. Ernesta was co-founded alongside Hisao Kushi and Yony Feng, also original Peloton cofounders, and commenced operations in 2023 across New York, Texas, Florida, and Illinois.
Personal life
Foley lives with his wife Jill and their two children in Manhattan's West Village.