Oprah Winfrey lost more than she expected with Weight Watchers and it’s not just pounds that she’s shed.The media mogul recently boasted that she lost 26 pounds on the weight loss company’s diet, but she’s also lost millions of dollars.
In October 2015, Winfrey invested $43 million for a 10 percent stake in Weight Watchers, with options to purchase 5% more. Immediately after she made the multimillion dollar investment, Forbes reported that shares of the company’s stock increased by 92 percent or $6.27 per share.
Less than four months later, Oprah’s investment took a big hit. According to USA Today, Weight Watchers’ shares fell 29 percent on Friday after the company reported a quarterly loss. In turn, Oprah saw the paper value of her stake in the company drop by almost $29 million.
Variety reports that Weight Watchers stock is trading almost 60 percent below the peak it hit in November when Oprah first started endorsing the brand and again in January when she tweeted that she lost 26 pounds on the diet while eating bread every day.
Eat bread. Lose weight. Whaaatttt? #ComeJoinMe https://t.co/jUgpk9ToXYhttps://t.co/xtnB53EwSf
— Oprah Winfrey (@Oprah) January 26, 2016
Despite the fact that Oprah, who is also on the Weight Watchers International board of directors, took a big hit this week, Forbes reports that before shares fell she already gained almost $75 million from her investment.
This week’s loss is a significant one, but not enough to make a dent in her bank account. According to Celebrity Net Worth, the entertainment superstar is rumored to have a net worth of around $3.2 billion and earns a yearly salary of approximately $315 million from her media empire, Harpo.