Oprah Winfrey Loses More Than $100K In Weight Watchers Stake
Oprah Winfrey‘s stake in Weight Watcher’s has plummeted $117 million since she became an investor last year.
Oprah Winfrey Loses Millions
Winfrey, a 10% owner in Weight Watchers, is feeling the effects of the company’s shares crashing 66% since November 2015. After Winfrey came on board last fall, lifting the value of Weight Watchers in the short term, the value has dropped $1.2 billion, reports USA Today.
In an effort to turn Weight Watcher’s shares around, Winfrey is reportedly trying to push for management changes. Already, it’s been announced that James Chambers, who has been the CEO for the last three years, will be replaced by the end of September.
Last October, Winfrey bought 10% of Weight Watcher International in an effort to save the long-running weight loss program.
“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,” Winfrey said at the time. “I believe in the program so much I decided to invest in the company and partner in its evolution.”
Though Winfrey can’t be happy with how the company is performing, she is pleased with the results she’s gotten from the program. “I don’t feel like I’m on a diet that I’m ever going to go off again,” she said of Weight Watchers while walking the red carpet at the Queen Sugar premiere. “I feel like I’ll be counting points for the rest of my life.”