Weight Watchers Makes Oprah Winfrey Lose $24 Million In A Day

American media proprietor and talk-show host Oprah Winfrey lost a whopping amount of $24 million in one day because of American weight lose assisting company Weight Watchers.

Last year, Oprah bought a ten percent stake in the weight loss company for $43.2 million and joined the company's board of directors and became a spokes-model for the brand. She also started to plan its diet chart. 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. However, she has still gained almost $75 million since she made her investment.

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.

The 62-year-old actress and philanthropist has a net worth $3 billion currently, which means she has lost less than one per cent of her net worth.

Winfrey often promotes Weight Watchers on social media. In January, after she tweeted a video saying she lost 26 pounds on the diet program while still eating bread every day, company stocks rallied more than 16 percent and she made $12 million.

 

Dubbed the "Queen of All Media", she has been ranked as the richest African-American of the 20th century, the greatest black philanthropist in American history, and is now North America's first and only multi-billionaire Black. Several assessments regard her as the most influential woman in the world.