DJ Khaled Just Made Oprah Rich
Weight Watchers Partners Up With DJ Khaled
As music star DJ Khaled announced plans to shed pounds via Weight Watchers’ Freestyle program, entertainment giant Oprah Winfrey is gaining millions from her stake in the company.
Since DJ Khaled revealed Tuesday that he would socialize his weight loss journey using the company’s product, shares of Weight Watchers (WTW, -1.04%) have gained nearly 9%. The positive sentiment also helped push Winfrey’s 10% stake in the company up by about $26 million, to roughly $309 million in that same 24-hour period.
As of mid-day trading, however, that stake has somewhat pared its gains, falling to $293 million, or a $7 million gain for Winfrey—a drop in the bucket for the entertainer worth $2.8 billion based on Forbes estimates.