Home / NEWS / Oprah makes $39 million on Weight Watchers on Tuesday, bringing total haul to nearly $300 million

Oprah makes $39 million on Weight Watchers on Tuesday, bringing total haul to nearly $300 million

Media magnate Oprah Winfrey is raking it in on her stake in Weight Watchers.

The company’s shares closed up more than 13 percent Tuesday after the diet company reported better-than-expected earnings and raised its outlook, bringing Winfrey’s potential profit to roughly $300 million over two years. Weight Watchers stock is up 360 percent year to date.

While the surge in the company’s stock may be due partly to Winfrey’s involvement, Weight Watchers continued to post impressive growth in subscriptions. Total paid weeks grew 20 percent year over year and end-of-period subscribers increased 18 percent with growth in every major geographic segment, according to the company.

For her part, Winfrey originally purchased a 10 percent stake in the company — about 6.4 million shares — back in 2015, when shares traded for as low as $6.79. With shares now trading around $51, the media giant has added nearly $300 million to her original $43 million investment.

Winfrey, 63, still owns about 10 percent of the company and has the option to buy an additional 5 percent stake. As a company board member, Winfrey continues to appear in advertisements and continues to drive interest in subscriptions.

Winfrey’s total net worth is $3.1 billion, according to Forbes.

Article Source : https://www.cnbc.com/2017/11/07/oprah-makes-50-million-on-weight-watchers-tuesday-bringing-total-haul-to-nearly-300-million.html

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