4 Ways Oprah Winfrey Got Richer in 5 Years and How You Can, Too
Written by
Brooke Barley
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Rebekah Evans
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TV maven Oprah Winfrey is worth $3 billion, according to Forbes. AfroTech reported that she was the wealthiest African American in the 20th century. She began working in 1969 as a babysitter and never looked back. Though her childhood was marred with hardship and abuse, she strived for better. She enrolled at Tennessee State University after receiving a full scholarship and began her career in journalism.
Since then, Winfrey has been a news anchor, TV host, producer, network owner, magazine founder, investor, published author and actress, to name a few of her titles. She became a billionaire in 2003, making the bulk of her cash in the five years prior. Read on to see which of her enterprises were the most successful and what lessons her career trajectory can offer.
Also here are 15 celebrities who are richer than you think.
Hosting and Producing ‘The Oprah Winfrey Show’
The talk show is probably what Winfrey is most known for and was one of the main contributors to her wealth. The origins of “The Oprah Winfrey Show” began in 1984, after Winfrey took over as a host for a morning talk show in Chicago called “AM Chicago.” The show’s ratings were so spectacular with Winfrey as a host that in 1986, it expanded to one hour and became “The Oprah Winfrey Show,” according to Oprah.com. That was the year she made her first million and in 2003, she officially became a billionaire, Forbes reported. By 1995, she was worth $340 million thanks to the show’s success and by 2000, Forbes reported she was worth $800 million.
Lesson to take away: Don’t be afraid to inject your own personality into your career. It might be exactly what’s needed to make it a huge success.
Making Public Appearances
Once Winfrey became a TV juggernaut, the general public started to associate her name with success. Because of this, crowds flocked to see Winfrey speak about how to build an empire. AfroTech also reported that Winfrey’s starting fee for a public speech is $1.5 million. Not bad for a day’s work.
Lesson to take away: Sell your skill set. If you have a skill people want to learn, hold workshops where you can teach it. Your students will learn something they need and you’ll make money in the process.
Running Her Own Magazine
In 2000, Winfrey released “O, The Oprah Magazine,” which features inspirational stories, motivational articles, book reviews and celebrity interviews conducted by Winfrey. Within months of launching, it had surpassed sales of its competitors and by 2008, O had a readership of 16 million, according to Britannica. By 2015, it had amassed $1 billion in memberships and sales, AfroTech reported.
Lesson to take away: Seek out other mediums. If you primarily sell your product on Facebook, look into TikTok. Even if you feel you’ve done all you can with a product, there’s probably an avenue you haven’t tried yet.
Co-Founding and Investing in a Media Company
In 1998, Winfrey co-founded Oxygen Media. Oxygen released a cable channel that showed content aimed at women. Winfrey owned 25% of the company in exchange for her $20 million investment, AP reported. NBC bought Oxygen in 2017 for $925 million, New York Times reported, proving that Winfrey’s investment paid off.
Lesson to take away: If you have the capital, invest in projects and companies you believe in. Who knows how much those investments could pay off years from now.
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