Oprah Winfrey has suffered a huge loss because of Weight Watchers – The weight loss company that had helped her make $75 billion a day last year.
In an unexpected turn of events, Oprah lost $24 million in a day because of the same company.
“The TV and lifestyle mogul had last year bought a 10 percent stake in the weight loss company for $43.2 million, joined the company’s board of directors, became a spokesmodel for the brand and began its diet plan. Weight Watchers International had hoped Winfrey’s collaboration could help boost subscription numbers and sales.
But on Thursday, the company reported a 21 percent drop in fourth-quarter net revenue, which sent its shares down more than 27 percent in extended trading. As a result, the paper value of Winfrey’s stake plunged by about $24 million, Reuters reported. However, she has still gained almost $75 million since she made her investment, the news wire added.
If Winfrey sold all her Weight Watchers shares today, her net worth would fall less than 1 percent. She is worth $3 billion, according to Forbes.
On the day Winfrey first invested in Weight Watchers, its shares doubled in value, while she made $70 million in just a day and also single-handedly generated $700 million in stock market value in two days, Forbes had reported.”
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