On Oct 19, the 61-year-old media mogul invested in Weight Watchers by purchasing a 10 percent stake in the company, a move that almost doubled the price of a single Weight Watchers share. The result? A $70-million profit for Oprah Winfrey made in just one day.
After Winfrey purchased 6.4 million shares of Weight Watchers investors immediately followed suit, increasing the initial value of the share from $7 to almost $14.
What’s more, $70-million earnings in a single day are pocket change for Winfrey whose estimated fortune is $3 billion.
Winfrey joined the board of Weight Watchers and will act as an advisor as well as a member of the program who will share her experience with other users of company products.
“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,” Winfrey said in a statement. “I believe in the program so much I decided to invest in the company and partner in its evolution.”