did he go broke because he had to pay for a subscription to Peloton?
Nice
Perk up bud. You can always sell your blood.
It’s almost as if overpricing is bad for business, eventually.
pretty much the future of every kickstarter product turned business that got skyrocketed to instant fame, with all subsequent investors being predatory VC funds and/or Shark Tank types (that doesn’t get a unicorn buyout from deep pockets)
Original kickstarter from 2013 where 297 backers pledged $307,332 to help bring this project to life
Fucking richers
(…) Foley was once worth $1.9 billion, according to Bloomberg, but left the company with a net worth of $225 million.
(…)
The ex-Peloton chief was forced to downsize twice—including selling a $55 million East Hampton waterfront home and uprooting his family.
Though Foley has lost much of his fortune, the ordeal has not extinguished his ambition. Within a year of resigning from the top job at Peloton, he had raised $25 million for his new venture, a direct-to-consumer rug company called Ernesta.
You know, my heart is not exactly bleeding for the guy. Nobody should even have a $55 million residence in the first place, fucking hell. Also, being left with only $225 million is hardly losing all your money, is it?
“No member of my family through to my great grandchildren will need to work a day in their lives; I’m ruined.”
$225m only generates an extremely conservative $9m year in interest. I know I couldn’t live off such a pittance. Please have sympathy for this poor man.
Nobody should have 55m no matter what makes them worth that much
I guess the only thing left to do is to go on a submersible dive.
I’m not sure if i prefer this or catastrophic implosion
I find it funny you posted this to Uplifting, that’s just so… Lemmy.
Kind of inappropriate, technically, but made me laugh none the less.
Well, billionaires should not exist so the news was uplifting to me.
To be fair, I agree. I just think it’s funny. If this was any other platform (like the one that starts with R), you only get fluff pieces that you see a million times and aren’t even real news. Lol
Also uplifted!
And really, how could a billionaire really lose their money? Like, you have a billion dollars… stop fucking about and retire! You don’t need more. Clearly no concept of money.
The majority of his wealth was in the stock price of his company. Same as most billionaires.
Sounds like a pretty dumb way to not diversify
It’s uplifting because it is going to incentivive this titan of industry to create a new company to regain all his wealth. Think about how much wealth will trickle down when he makes another billion dollar company.
He just needs to stop buying that avocado toast and expensive coffee in the morning.
For how much he lost he must be buying avocado toasts with little diamonds in them, and then getting his teeth remade every day after they got destroyed by chewing the diamonds.
Nobody taught him how to billionaire right.
This is HORRIBLE! We need to TAX HOMELESS MOTHERS so we can give this JOB CREATOR some MONEY!
Womp womp
