Oprah Winfrey, billionaire media mogul, bought 10% of Weight Watchers International, deal which brought her $60 million in just one day, according to USA Today.
Oprah had a positive personal experience with the product and that’s the reason she made this investment. She also has an option to aquire additional 5% of the company. Weight Watchers, who announced an expansion of its brand beyond a pure focus on weight loss to a general emphasis on healthier life style, has been in a serious slump, but with this recent development, it looks like the company is on the right path.
“Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for. I believe in the program so much I decided to invest in the company and partner in its evolution.”, said Oprah Winfrey in a statement, according to the same source.
The company’s stock had lost 72% of its value this year before the news was publicized. After Oprah’s investment, which cost her $43.2 million, stocks went up the hill, reaching $13.67 on Monday. This means that Oprah’s move put in her pockets $60 million in just one day.
“Through our conversations, it became clear that there is tremendous alignment between Oprah’s intention and our mission. We believe that her remarkable ability to connect and inspire people to realize their full potential is uniquely complementary to our powerful community, extraordinary coaches and proven approach.”, said Weight Watchers CEO Jim Chambers, quoted by USAToday.
Specialists put Weight Watchers revival on Oprah’s influence and media presence and consider that her interests in health issues and dieting programs had a key role in the company’s recent success.