How Does Oprah Make Over $70 Million A Day?
Oprah reportedly made over $70 million in one day! Read on to find out how.
On October 19, Oprah Winfrey announced that she is investing in Weight Watchers, which is one of her favorite things at the moment. After her announcement, its stock significantly increased and made her a lot of money, more than $70 million in one day!
The 61-year-old media mogul tweeted: “In believe in the @weightwatchers program so much I decided to invest, join the Board, and partner with #wwfamily evolution.”
— Oprah Winfrey (@Oprah) October 19, 2015
According to Us Weekly, investors have faith in her “golden touch.” After Oprah made her announcement, Forbes Magazine reported that the diet company’s stock price surged from $6.79 to $13.92. As a result, she made $71.6 million on Monday. Weight Watchers said that Oprah purchased 10 percent stake in their company–6.4 million shares. Forbes said that even though she made a huge amount of money in one day, it is not much compared to her net worth of $3 billion.
Aside from being a stock owner, she also acts as an adviser, board member, and member of Weight Watchers. Oprah will be sharing her thoughts and experiences about joining the program.
Oprah has been outspoken about her weight struggles. She said in a statement: “Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for. I believe in the program so much I decided to invest in the company and partner in its evolution.”
According to Forbes Magazine, Oprah’s stock deal with Weight Watchers is part of a general collaboration agreement to promote its programs for five years. She is partnering with Ray Debbane, a private equity mogul based in New York, who has been controlling Weight Watchers since 1999. Debbane’s Invus Group has made at least $3.8 billion from Weight Watchers by selling its stock and assets as well as collecting dividends.
Photo source: Instagram/Oprah