Former Peloton billionaire CEO reveals he's 'lost all his money'
Peloton's former CEO has revealed that he has 'lost all his money' and has been forced to sell his possessions. While Americans were trapped at home during the Covid lockdowns, Peloton bikes become a hot luxury commodity. Sales rose by 250 percent in the first quarter of 2020 and the company's stock surged 400 percent over the course of the same year. But with the relaxing of lockdown measures, Peloton fell from grace, wiping out much of its former-billionaire founder's wealth in the process.
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