Oprah’s Fortune Takes Another Hit on Latest Weight Watchers Rout
(Bloomberg) -- The fresh batch of bad news from Weight Watchers lopped an additional $39.2 million from the fortune of its biggest individual shareholder.
Oprah Winfrey, who owns more than 8 percent of Weight Watchers, saw the value of her stake drop to $122.7 million after the wellness company forecast that 2019 profit will be well short of Wall Street estimates. The value of her stock has plunged by $435.8 million since June 20, when the shares peaked at $103.09. She also owns options to purchase an additional 2.1 million shares.
Weight Watchers tumbled 23 percent to $22.65 in extended trading at 5 p.m. in New York.
Read more: Weight Watchers plunges as weak forecast chokes off turnaround
Winfrey, 65, is worth $3.4 billion, according to the Bloomberg Billionaires Index. Most of her net worth is held in cash.
--With assistance from Tom Maloney and Jack Witzig.
To contact the reporter on this story: Sophie Alexander in New York at salexander82@bloomberg.net
To contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Peter Eichenbaum, Steven Crabill
©2019 Bloomberg L.P.
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