What is John Foley's net worth? Inside Peloton CEO's fortune as he says treadmill accident led to death of child
A child was killed in an accident involving the Peloton’s Tread Plus treadmill, revealed Peloton CEO John Foley in a note posted to the company website on Thursday, March 18. “I’m reaching out to you today because I recently learned about a tragic accident involving a child and the Tread Plus, resulting in, unthinkably, a death,” Foley wrote.
“While we are aware of only a small handful of incidents involving the Tread+ where children have been hurt, each one is devastating to all of us at Peloton, and our hearts go out to the families involved.” Peloton didn't provide further details about the child, the incident, or the “handful of previous incidents” Foley referenced. A report filed in February with the Consumer Product Safety Commission mentions a second, separate incident with a Tread Plus treadmill where a three-year-old boy suffered a “significant brain injury.”
RELATED ARTICLES
Child dies after being catapulted 20 feet in the air as bouncy castle explodes due to heatwave
The report states the child had “tread marks on his back,” a neck injury, and facial injuries. That report was updated with a note from Peloton on March 17th, saying the company had been told the child would “fully recover.”
The company’s statement on March 18, said that the Tread Plus was designed and tested for use by people over 16 and weighing more than 105 pounds. “Additionally, when the Tread+ is not in use Members should continue to follow the safety instructions by storing the safety key, which keeps the Tread+ from operating, away from the Tread+ and out of reach of children,” it says.
Who is John Foley?
According to Crunchbase: "Foley is the founder and CEO of Peloton. As an avid cyclist and boutique fitness addict, John leveraged his tech and business experience to create Peloton, a technology company at the nexus of fitness and media. Prior to founding Peloton, John spent six years in manufacturing leadership with Mars Inc.
He also served as a President at Barnes & Noble, CEO and co-founder of Pronto.com, CEO of Evite.com and an early leader of Citysearch.com starting in 1996. When John’s not brainstorming Peloton’s next big innovation, you can find him training for triathlons, at boutique group fitness classes with his wife Jill, or strolling through the West Village with his two children."
What is John Foley's net worth?
Foley warned that children and pets should be kept “away from Peloton exercise equipment at all times. Before you begin a workout, double-check to make sure that the space around your Peloton exercise equipment is clear.” He also said the company is “currently assessing ways to reinforce our warnings about these critical safety precautions to hopefully prevent future accidents.”
If reports are to be believed, Peloton CEO joined the billionaires' club recently and his current net worth stands at about $1.2 billion.