Oprah Winfrey helped spark a turnaround for Weight Watchers International, Inc. (NYSE:WTW), and she’s now reaping the rewards. The media mogul has netted as hefty profit by selling some shares of the company, and she’s also shared the wealth with her charitable foundation.
Bloomberg has the news on Oprah’s recent transactions.
Oprah Winfrey, who spurred a comeback at Weight Watchers International Inc. when she bought a stake in the company in 2015, is cashing in on the turnaround.
Winfrey made $110 million this month by selling 2 million shares of the company, most of which came from exercising options, according to a regulatory filing. She also donated 361,000 shares to her charitable foundation, which sold them for $22.6 million.
The company notes that Winfrey has no plans to sell any additional shares of the company. As for Winfrey, she says she unloaded the shares in a bid to further diversify her portfolio while also making a sizable donation.
“I am deeply committed to Weight Watchers and continue to see a bright future for the company,” she said in a statement.
Weight Watchers International, Inc. shares were trading at $61.13 per share on Wednesday afternoon, up $2.71 (+4.64%). Year-to-date, WTW has gained 38.05%, versus a 2.22% rise in the benchmark S&P 500 index during the same period.