Uplifting News

(...) 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.

His possessions included a $55 million house. Boo fucking hoo.

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.

So he failed at one company massively and investors were dumb enough to throw $25 million at him for making fucking rugs?

This is HORRIBLE! We need to TAX HOMELESS MOTHERS so we can give this JOB CREATOR some MONEY!

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.

did he go broke because he had to pay for a subscription to Peloton?

"The ex-Peloton chief was forced to downsize twice—including selling a $55 million East Hampton waterfront home and uprooting his family. "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."

Can we burn these fucking people for warmth?

correct community to post this in

Someone should buy him a Peloton for christmas

He just needs to stop buying that avocado toast and expensive coffee in the morning.

I prefer my uplifting news without the schadenfreude.

Nobody taught him how to billionaire right.

What a coincidence. I too am a temporarily embarrassed billionaire! He should come to our meetings where we show you how to find a million dollars just by checking the couch cushions and working 148 concurrent jobs.

According to billionaires, he’ll easily return to his former glory by pulling himself up on those massive bootstraps we should all apparently be using.

Hahahahahhahaha.

Yeeeeeessss.

a direct-to-consumer rug company called Ernesta

Ah... Another brilliant idea.

Oh no. Anyway …

I guess the only thing left to do is to go on a submersible dive.

Man, I too could rough it with 225 million, maybe... someone should give that to me, to see if I can make ends meet! I'd like to try that experiment.

Nice

[email protected]

Perk up bud. You can always sell your blood.

Yeah, the thing is - I just don't get it. Like most people likely do, I have thought about what I'd do if I came into a large sum of money, maybe by selling a company, and honestly, the answer is, a relatively normal flat in the city I live in; some travel, but nothing 'luxury', just seeing places I find interesting; giving both to charities I find worthwhile, and my local community; and investing in a responsible way (fuck returns if you get them by investing in oil and weapons, one could argue that investor owned companies as such are a problem, but I'm probably not going to be able to solve that can of worms).

So the difference in my life would be having less financial stress, being able to give back more, and focusing more on family, friends, and hobbies, and I just couldn't imagine blowing through money like that man has.

It may be partially because I saw my father find incredible success, only to spend a lot of it on pointless luxuries before dying in incredible debt, but it also just feels like common sense.