How ‘naive’ soulcycle co-founder $ 90 million payment day missed from the sale of fitness chain

A new podcast that exposes the secrets behind SoulCycle has revealed how the ‘Naive’ founder of the fitness chain Ruth Zukerman missed a payment day of $ 90 million from the sale of the company.

The seven -part audio series, entitled the Cult of Body & SoulFollows the incredible rise and fall of the indoor bicycle class that a fitness madness fueled in the years 2010.

In the first episode, SoulCycle’s 2006 founded by celebrity language agent Julie Rice and rich entrepreneur Elizabeth Cutler, together with their spin instructor, is then investigated for the first time, Zukerman.

Zukerman introduced Cutler and Rice during lunch, and together the three women decided to start the brand that would eventually become soulcycle.

Zukerman, however, left the company mysteriously in 2009 To find its own rival bicycle chain, flywheelWhile Cutler and Rice continued Sell ​​an interest of the company to Equinox for $ 90 million each.

Although the trio has never publicly discussed the details about their split, Janet Fitzgerald, who is currently the master instructor and senior training officer for Soulcycle, that Zukerman had never had a contract.

“She hadn’t written her contract,” Fitzgerald said at the cult of Body & Soul.

A new podcast that exposes SoulCycle has revealed how the ‘Naive’ founder Ruth Zukerman of the fitness chain (photo) missed a payment day of $ 90 million from the sale of the company

SoulCycle’s other two co-founders, celebrity talent agent Julie Rice and rich entrepreneur Elizabeth Cutler, each earned $ 90 million after the sale of the company from Equinox

‘It is very sad and also very shocking. Maybe she thought it was so small when it wasn’t necessary, “she went on.

“May this be a lesson for all of us. Get that s ** t and do not assume that other people will do well. ‘

The cult of Body & Soul -guest Jess Rothschild said: “While Julie and Elizabeth were business operations, Ruth was naive and had no good legal protection.”

Moreover, an insider told DailyMail.com close to the situation: “After the first year of SoulCycle was open, Ruth went completely excited to sign her contract in a meeting … She walked into the room without legal representation and no longer walked out an owner.”

In a rare interview in 2018 about her split of SoulCycle, a cryptic Zukerman told the Jewish magazine“Make sure you are legally protected when you accept a business partnership with someone.”

She added: “I didn’t do that and it cost me a lot.”

Rice and Cutler also kept silent about the split and told the New York Times in 2020, ‘Ruth worked with us for a while. We have decided to separate. We wish her the best. ‘

A new podcast has revealed how the original co-founder of SoulCycle missed a payment day of $ 90 million of the sale of the famous fitness chain. (Alex and Hilaria Baldwin depicted)

Dailymail.com has contacted Rice, Cutler and Zukerman for comment.

At its peak, soulcycle was worshiped by the rich and elite and he had a famous clientele that included Lady Gaga” Lena Dunham” Nicole KidmanChelsea Clinton, Oprah Winfrey, Vanessa HudgensAlec and Hilaria BaldwinAnd more.

Throughout the cult of Body & Soul, listeners will hear of remarkable long -term instructors, anonymous studio managers, reception personnel, business employees and dedicated customers who made SoulCycle the fastest growing fitness studio in the country.

As an instructor described it, ‘Soulcycle was Soho House of Fitness. There, exclusivity met self -help guru. There was nothing like it. ‘

Another said, “Many of the instructors have plays hard – I mean, partying hard.”

“So the youngsters would stay outside all night and God knows what – many drugs – and then come in, an adderall pop and then, like, turning on the bike that rotates a million miles per hour.”

Others discuss the status of celebrities that some of SoulCycle’s more famous instructors could reach.

‘I am so worshiped by this community, I can say what the f ** k that I want, I can do what the f ** k that I want,’ one.

“We were all hot and wild, and some of our housewife,” she added.

The first episode of The Cult of Body & Soul Drops on Tuesday 27 May.