(…) 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?

This is some asshat complaining that he isnt a billionaire anymore and how he is now humble and hungry to make it back there since his net worth is now only a lowly 225 million and he had to sell his 55 million dollar home. He is not pennyless selling his possessions he just had to downgrade his living style from wasteful worthless billionaire to the low level of a few hundred millionaire.

Don’t worry everyone he started a direct sales rug company he thinks should get him back to 500 million. Fuck this article and that guy.

(in response to him selling the family home)

“My family took it well,” the 53-year-old told the New York Post. “My wife’s super supportive. My kids are probably better for it, if we’re keeping it real.”

Just another demonstration of how the Hedonic Treadmill effect means becoming a billionaire won’t meaningfully improve your life compared to the negative impact you inflict upon all of society by taking millions of dollars of worker’s and consumer’s value from them!

So he drank too many lattes and didn’t work hard enough. /s

He’s fine. All he has to do is pull himself to by his bootstraps, cancel his Netflix account and he’ll be back a billionaire in a year.