John Foley and his wife Jill Foley faced problems trying to stay fit while balancing work and family. Their workout predicament led to a breakthrough idea that has turned into a business worth more than $30 billion. They started Peloton Interactive, which is a publicly-traded exercise company. Peloton sells exercise equipment and offers a digital content subscription service.
Who is John Foley?
John Foley, a cycling enthusiast, is the CEO of Peloton. He lives in New York and is married to Jill Foley. He co-founded Peloton alongside Graham Stanton, Hisao Kushi, Yony Feng, and Tom Cortese in 2012 and launched it in 2013. Foley worked at Mars Inc. before founding Peloton. He also served as Barnes & Noble’s e-commerce president at one point. John and Jill describe themselves as fitness addicts.
How did Peloton get started?
Peloton rose out of a need to make workouts convenient for busy people who want to stay fit. As a young couple and before they started having children, John and Jill Foley loved attending fitness classes. However, attending instructor-led fitness classes became difficult for the Foleys when their jobs got more demanding and they started a family.
At that point, John Foley thought that fitness could be easier if people could have instructor-led fitness training streamed to their homes. His tech background helped transform the idea into a reality and paved the way for Peloton.
What does Jill Foley do at Peloton?
Jill Foley runs Peloton's apparel division. The company sells branded exercise apparel in its 15 showrooms and online. The demand for Peloton’s apparel keeps growing as the company's rider community expands. Peloton has more than 60,000 riders and the number continues to increase. Many riders wear the Peloton branded apparel during their workouts.
What is John Foley’s net worth?
Peloton CEO and co-founder John Foley joined the billionaires’ club thanks to Peloton’s surging stock price this year. His net worth is about $1.2 billion. As Peloton's CEO, Foley is entitled to a base salary of $500,000. In addition to the base salary, he's eligible for a bonus payment and stock award that surpassed $20 million last year. John Foley owns nearly 8.0 percent of Peloton stock.
Is Peloton a good stock for investors?
Peloton stock has gained 300 percent in 2020. The most bullish analyst sees more than a 40 percent upside potential in Peloton stock from the current level to $160. In contrast, the most bearish analyst sees a 70 percent downside in Peloton stock to $33.
Is Peloton stock right for you? The COVID-19 pandemic has been a windfall for Peloton. With gyms closed or operating at reduced capacity to observe social distancing, people are turning to Peloton bikes and treadmills to exercise at home.