How the wheels came off Peloton and left its billionaire boss saying he's PENNILESS

How the wheels came off Peloton and left its billionaire boss saying he's PENNILESS By Jane Fryer Published: 20:58 EDT, 29 August 2024 | Updated: 20:58 EDT, 29 August 2024 e-mail View comments Barely three years ago, as the pandemic raged, the Peloton stationary exercise bike became the surprise jewel in the middle-class arsenal of luxury lockdown possessions. Big, new, reassuringly expensive, heavily branded and wildly aspirational –thanks to all those celebrities pedalling away on theirs in their glossy homes. The Obamas reportedly had one.

So did Sir Richard Branson . And Usain Bolt , Hugh Jackman , Kate Hudson , Lizzo and Jill Biden . Forever posting sweaty pictures and banging on about how much they loved the huge screen, the inspirational online classes, the special gel saddle – and their newly toned thighs.

For the rest of us, of course, there was a waiting list. A hefty price tag – more than £1,350, plus £200 delivery fee, not forgetting an extra £125 for the fitted shoes and a £30-a-month subscription for access to the online classes. Pelaton bikes became the jewel in the middle-class arsenal of luxury lockdown possessions, Jane Fryer writes Oh yes, and room – lots of it – to house it, and a good wifi connection.

But that didn't put people off. Certainly not in lockdown when there was nothing else to do and nowhere to go. Soon, the internet was awash with photos of mere mortals working out – at home in Kidderminster and Swindon, in the garage, in the .