>> We're already a privileged group.>> It's helped her shed weight while padding her bank account. Oprah Winfrey, on Wednesday, making what some estimate to be a cool $65 million by selling 25% of her stake in Weight Watchers. The media mogul first swooped in as something of a savior for the sagging brand back in 2015.
Buying 10% of the company and taking a board seat. That investment, at roughly $6.75 a share, has since balooned, largely thanks to her seal of approval. The billionaire also acting as its celebrity spokesperson. But there have been bumps along the way. Roughly a year after her arrival, membership and revenue declines wiped away much of the initial stock surge.
Leading to the departure of then CEO, Jim Chambers. Former Home Shopping Network CEO, Mindy Grossman, took the helm in April. And turned the ship around with new programs like the popular Freestyle plan. Winfrey says she remains deeply committed to the company and will not sell any more shares this year.