Well that’s not good!
Thanks to Weight Watchers, Oprah Winfrey is now down $24 million. Yikes!
In case you forgot, the media mogul purchased a stake in the weight loss company for $43.2 million last year. Not to mention, Miz Winfrey also became both a board member and a spokesperson for the business!
However, it seems this investment may’ve bitten her in the butt as it was reported on Thursday that WW took a 21 percent drop in its fourth-quarter net revenue. This led to the business’ shares to decrease by 27 percent for extended trading.
Although, we shouldn’t feel too bad for the A-lister as she’s made nearly $75 million ever since investing in the popular franchise. Hot dang!
It’s said that if Oprah sold all of her shares in the company today, she would only lose about one percent of her reported three billion dollars. Phew!
We doubt that would make Weight Watchers very happy since shares doubled in value upon her investment. Also, we doubt the TV personality would ditch the brand since she and her best friend Gayle King have each lost around 25 pounds on the diet plan.
Here’s hoping things will turn around for the business sooner than later!
[Image via WENN.]