Media magnate Oprah Winfrey can be raking the item in on her stake in Weight Watchers.
The company’s shares closed up more than 13 percent Tuesday after the diet company reported better-than-expected earnings in addition to raised its outlook, bringing Winfrey’s potential profit to roughly $300 million over two years. Weight Watchers stock can be up 360 percent year to date.
While the surge inside the company’s stock may be due partly to Winfrey’s involvement, Weight Watchers continued to post impressive growth in subscriptions. Total paid weeks grew 20 percent year over year in addition to end-of-period subscribers increased 18 percent with growth in every major geographic segment, according to the company.
For her part, Winfrey originally purchased a 10 percent stake inside the company — about 6.4 million shares — back in 2015, when shares traded for as low as $6.79. With shares at This kind of point trading around $51, the media giant has added nearly $300 million to her original $43 million investment.
Winfrey, 63, still owns about 10 percent of the company in addition to has the option to buy an extra 5 percent stake. As a company board member, Winfrey continues to appear in advertisements in addition to continues to drive interest in subscriptions.
Winfrey’s total net worth can be $3.1 billion, according to Forbes.