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Oprah Winfrey Net Worth 2022 | Salary | House | Cars | Bio

Byadmin

May 3, 2022

Winfrey, Oprah $3.5 Billion in Net Worth
Oprah Winfrey’s Net Worth

Annual Revenue of $300 Million

How much money is Oprah Winfrey worth?

Oprah Winfrey is a media mogul, television host, and author based in the United States. Oprah’s net worth is estimated to be $3.5 billion. She now earns approximately $315 million per year from her highly profitable diversified media empire.

 

IMPORTANT FACTS

In 1989, she became a millionaire for the first time.

By 1995, she had amassed a fortune of more than $500 million.

In 2000, she became a billionaire.

Annual revenue of $300 million

Owns real estate worth $200 million

To date, Hsa has donated at least $400 million to charity.

Is America’s wealthiest self-made woman

Childhood

Oprah Winfrey overcame adversity, abuse, and prejudice to become one of the world’s most powerful people. Orpah Gail Winfrey was born on January 29, 1954. That was not a typographical error. “Orpah” was her given name, a reference to a biblical figure from the Book of Ruth. When she was a baby, her name was frequently mispronounced as “Oprah,” which eventually stuck. She was born in the Mississippi town of Kosciusko. Vernita Lee, her mother, was an unmarried adolescent housemaid. Vernon Winfrey, Oprah’s biological father, was a member of the Armed Forces at the time of her birth. He later worked as a barber, a coal miner, and a member of the city council. Her biological father was rumored to be another man named Noah Robinson.

 

When Oprah was a baby, she and her mother moved in with her grandmother. The family was impoverished, with Oprah famously forced to wear potato sack dresses to school. Thus, she rose literally from rags to riches.

 

Oprah and her mother moved to Milwaukee when she was six years old, where her mother found work as a maid. Oprah’s mother gave birth to a second daughter, Patricia, during this time period. Patricia died of cocaine abuse in 2003, at the age of 43. Another half-sibling, Jeffrey, born to father Vernon, died of AIDS in 1989.

 

Oprah was sent to live with her father Vernon in Nashville when she was 12 years old. At the age of 13, she fled her home to avoid the abuse she endured. At the age of 14, she became pregnant with a son who died shortly after birth.

 

She initially attended Lincoln High School in Milwaukee but earned a transfer to an affluent suburban school called Nicolet High School after excelling in a special program. She returned to Nashville after getting into some mischief. She began to blossom at East Nashville High School. At the age of 17, Oprah won the Miss Black Beauty Tennessee pageant, which led to a part-time job as a news anchor at a local black radio station called WVOL.

 

She attended Tennessee State University on a scholarship and majored in communication. Oprah dropped out of school at the age of 19 to pursue a full-time career in media.

 

Career in the Media

Oprah was the first black female news anchor at Nashville’s WLAC-TV. She was also the station’s youngest anchor. When she was 22, she was hired by a Baltimore television station, WJZ, to co-anchor the six o’clock news, a highly sought-after position.

 

She began co-hosting a talk show called People Are Talking in August 1978. By 1980, she had surpassed nationally syndicated Phil Donahue in Baltimore’s local market. By the time she completed her Baltimore run, she was earning $220,000 per year, which equates to about $560,000 today after inflation is factored in.

 

Recognizing her potential, ABC awarded Oprah her own 30-minute morning talk show in Chicago in 1984, to be produced by King World Productions. King World also produced Jeopardy and Wheel of Fortune. The position was contingent upon a four-year, $1 million contract. After inflation is taken into account, $250k per year in that era is equivalent to around $600k today.

 

The Oprah Winfrey Show And Its Empire Of Syndication

Within a few months of AM Chicago’s debut on January 2, 1984, Oprah elevated the show from dead last to Chicago’s highest-rated talk show, eclipsing Phil Donahue. On September 8, 1986, the show was renamed The Oprah Winfrey Show and expanded to a full hour. It was broadcast nationally and syndicated. Initially focused on women’s issues, the show was later expanded to include health, spirituality, social issues, and charity.

 

Additionally, within a few months of the initial air date, Oprah began to have doubts about the $1 million contract. Roger Ebert, another Chicago television personality, advised Oprah to meet with his agent, a man named Jeffrey Jacobs. Jeffrey represented both Ebert and his co-host Gene Siskel, as well as Bill Cosby.

 

Jacobs was quick to point out that as the show became syndicated, Oprah was unlikely to earn a single additional dollar. He was more direct in his remarks to Oprah, telling her:

 

“This is a contract for servitude. Slaves are paid a fixed wage. They’re willing to stake their reputation on a national show. This contract is for four years and is worth a total of $1 million dollars, in an attempt to turn you into a highly compensated slave.”

 

Jacobs detailed how Siskel and Ebert each owned a portion of their show’s syndication, as well as how Bill Cosby did the same with his show.

 

How Oprah Achieved Billionaire Status

Oprah fired her agent and recalled Jeffrey Jacobs to King World/ABC to renegotiate the contract. King World was adamant about not renegotiating. This rejection would prove to be extremely fortuitous. Rather than handing over a small portion of the show’s syndication points, King World paved the way for Jeffrey Jacobs and Oprah to create an empire by accident.

 

While negotiations stalled, Jeffrey and Oprah formed HARPO Productions on their own.

 

King World was in a difficult situation. At the time, Oprah was attracting record viewership in Chicago, and national syndication appeared to be a foregone conclusion. They should have bowed to pressure and given Oprah a piece of the action. They would have had to pay a few million dollars per year.

 

Finally, King World returned to the table, but by this time, Oprah had abandoned her demand for a cut of the backend. King World executives were taken aback when they learned she intended to produce the show HERSELF. She and Jeffrey would cover all production costs for the show through HARPO Productions at HARPO Studios and then pay King World a set fee to syndicate it nationally. King World had become a salaried employee.

 

90% of HARPO was owned by Oprah. Jeffrey owned 10%.

 

Following that, Oprah and Jeffrey negotiated a much larger overall deal with ABC, which included film productions, a magazine, and books, as well as the right to launch additional television shows under her production umbrella. The shows’ entire production would take place on her 3.5-acre HARPO campus.

 

That, however, is not all.

 

Oprah and Jeffrey even negotiated a stake in King World Productions. Oprah would earn money from every show produced by King World, including Jeopardy and Wheel of Fortune, as part of this deal.

 

CBS acquired King World for $2.5 billion in stock in 1999. When the acquisition was completed, Oprah owned 1% of CBS. She also acquired a sizable portion of Disney stock through a deal she struck with ABC in the mid-1990s.

 

While her 1980s talk show contemporaries such as Sally Jesse Raphael, Phil Donahue, and Jerry Springer earned tens of millions of dollars via traditional contracts, Oprah earned multiple BILLIONS.

 

Oprah’s Net Worth Achievements

Yearly Earnings

1985 $500,000

1989 $1,000,000

1995 $500,000,000

2000 $1,000,000,000

2007 $2,000,000,000

2014 $3,000,000,000

2019 $3,100,000,000

2020 $3,500,000,000

 

 

Oprah achieved billionaire status for the first time in 1999/2000, becoming America’s first black female billionaire. Around this time, she earned $300 million per year producing her own show in addition to those of Dr. Phil and Rachael Ray.

 

Oprah is the fourth-wealthiest celebrity on the planet as of this writing. Kanye West ($6.6 billion), Steven Spielberg ($7.5 billion), and George Lucas ($10 billion) are the only billionaire celebrities who can match her.

 

Oprah Winfrey is America’s wealthiest self-made woman.

Other Projects and Endorsements

Since 2015, Oprah has served on the Weight Watchers board of directors. When she joined the company, she was granted $43.5 million in equity. This stake has grown to exceed $400 million in value. She inked a multi-year deal with Apple in 2019 to produce shows for the technology giant.

 

Oprah has appeared in a number of notable films as an actress, including 1985’s “The Color Purple,” 1998’s “Beloved,” 2013,’s “The Butler,” and 2014’s “Selma.”

 

She has dozens of television shows, documentaries, and miniseries under her belt.

 

As of this writing, Oprah is nominated for two Academy Awards: one for Best Supporting Actress for “The Color Purple” and another for Best Picture for “Selma” as a producer. She was awarded the Jean Hersholt Humanitarian Academy Award in 2011.

 

Oprah has received 18 Daytime Emmy Awards (from a total of 26 nominations), a Golden Globe, two Primetime Emmy Awards, and a Tony Award.

 

Oprah’s Real Estate Holdings

Oprah owns hundreds (possibly over 1,000) of acres of real estate worth a minimum of $200 million in the United States.

 

Oprah’s primary residence from 1985 to 2015 was a 9,625-square-foot Chicago home she sold in 2015 for $4.625 million. Additionally, she previously owned a penthouse in Atlanta, which she sold for $1.8 million in 2008.

 

Montecito: Possibly her most impressive real estate holding is a 23,000-square-foot mansion in Montecito, California (near Santa Barbara), which she purchased for $50 million in 2001. Today, this residence is estimated to be worth at least $90 million. In 2016, she paid $29 million for a 23-acre farm estate in Montecito. In 2019, she paid $6.85 million for the house next door, doubling her Montecito footprint to four acres. Oprah owns a total of 67 acres in Montecito.

 

Oprah owned a 43-acre estate on Orcas Island in Washington State from 2018 to 2021. She purchased the property in 2018 for $8.275 million and sold it in July 2021 for $14 million.

 

She spent $14 million in 2014 on a home in Telluride, Colorado.

 

Maui: In 2002, Oprah purchased her first property on Maui. She has spent up to $60 million over the years assembling 160+ acres on Maui. She spent $32 million on the adjacent property in a single transaction.

 

Philanthropy

As of this writing, Oprah has donated more than $400 million to charity, the majority of which has been directed toward educational causes. She has funded over 400 scholarships to Morehouse College in Atlanta.

 

In 1998, she founded Oprah’s Angel Network, a charity dedicated to assisting nonprofit organizations worldwide. To date, Oprah’s Angel Network has raised more than $80 million for a variety of charitable causes. Oprah personally covers 100 percent of the Network’s administrative costs, ensuring that 100 percent of all funds raised benefit nonprofits.

 

Oprah Winfrey founded the Oprah Winfrey Leadership Academy for Girls in South Africa in 2007. To date, she has contributed $40 million personally to the school’s funding. As of this writing, the school has 322 students and plans to grow to 450.

 

Oprah’s Angel Network contributed an additional $10 million to Hurricane Katrina relief.

 

In 2013, she gave the Smithsonian National Museum of African American History and Culture a $12 million gift. That same year, President Barack Obama presented Oprah with the Presidential Medal of Freedom.

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